Wedbush reiterated their outperform rating on shares of The Ultimate Software Group, Inc. (NASDAQ:ULTI) in a research note released on Thursday morning. Wedbush currently has a $220.00 price objective on the technology company’s stock, down from their prior price objective of $226.00.

ULTI has been the subject of several other reports. Piper Jaffray Companies reissued an overweight rating and issued a $250.00 price target on shares of The Ultimate Software Group in a report on Saturday, July 22nd. Credit Suisse Group reissued an outperform rating and issued a $245.00 price target (down from $260.00) on shares of The Ultimate Software Group in a report on Wednesday, August 2nd. Zacks Investment Research cut The Ultimate Software Group from a hold rating to a sell rating in a report on Thursday, October 19th. KeyCorp reissued a buy rating on shares of The Ultimate Software Group in a report on Wednesday, August 2nd. Finally, Royal Bank Of Canada reissued a buy rating and issued a $210.00 price target on shares of The Ultimate Software Group in a report on Friday, October 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $234.06.

Shares of The Ultimate Software Group (NASDAQ ULTI) opened at $206.78 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.18 and a quick ratio of 1.15. The firm has a market cap of $6,167.71, a P/E ratio of 196.93, a P/E/G ratio of 18.68 and a beta of 1.09.

The Ultimate Software Group (NASDAQ:ULTI) last posted its quarterly earnings results on Wednesday, November 1st. The technology company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.88 by $0.17. The business had revenue of $236.11 million during the quarter, compared to analysts’ expectations of $232.92 million. The Ultimate Software Group had a return on equity of 6.84% and a net margin of 3.31%. The company’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same period last year, the firm earned $0.78 EPS. research analysts anticipate that The Ultimate Software Group will post 0.55 EPS for the current year.

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A number of institutional investors have recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund increased its position in The Ultimate Software Group by 2.7% during the third quarter. Oregon Public Employees Retirement Fund now owns 10,955 shares of the technology company’s stock worth $2,077,000 after buying an additional 288 shares in the last quarter. Daiwa Securities Group Inc. increased its position in The Ultimate Software Group by 52.0% during the third quarter. Daiwa Securities Group Inc. now owns 10,043 shares of the technology company’s stock worth $1,904,000 after buying an additional 3,435 shares in the last quarter. Tygh Capital Management Inc. purchased a new position in The Ultimate Software Group during the third quarter worth $6,233,000. Stevens Capital Management LP purchased a new position in The Ultimate Software Group during the third quarter worth $3,419,000. Finally, Westpac Banking Corp increased its position in The Ultimate Software Group by 88.2% during the third quarter. Westpac Banking Corp now owns 25,633 shares of the technology company’s stock worth $4,860,000 after buying an additional 12,012 shares in the last quarter.

The Ultimate Software Group Company Profile

The Ultimate Software Group, Inc (Ultimate) is a cloud provider of people management solutions, referred to as human capital management (HCM). The Company’s UltiPro product suite (UltiPro) is an engaging solution that has human resources (HR), payroll and benefits management. As of December 31, 2016, UltiPro included global people management, available in 14 languages with more than 35 country-specific localizations.

Analyst Recommendations for The Ultimate Software Group (NASDAQ:ULTI)

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