Wedbush reaffirmed their outperform rating on shares of The Ultimate Software Group (NASDAQ:ULTI) in a research note released on Wednesday morning. They currently have a $234.00 target price on the technology company’s stock, up from their previous target price of $226.00.

Other equities analysts also recently issued research reports about the company. Guggenheim reissued a buy rating and set a $245.00 price target on shares of The Ultimate Software Group in a research report on Thursday, January 11th. Piper Jaffray Companies reissued an overweight rating and set a $250.00 price target on shares of The Ultimate Software Group in a research report on Tuesday, January 16th. Citigroup reissued an overweight rating and set a $232.00 price target on shares of The Ultimate Software Group in a research report on Wednesday. Royal Bank of Canada boosted their price objective on The Ultimate Software Group to $260.00 and gave the stock a positive rating in a report on Tuesday, January 30th. Finally, SunTrust Banks restated a buy rating and set a $225.00 price objective on shares of The Ultimate Software Group in a report on Friday, November 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. The Ultimate Software Group currently has a consensus rating of Buy and an average price target of $243.90.

The Ultimate Software Group (NASDAQ ULTI) opened at $228.87 on Wednesday. The firm has a market capitalization of $6,635.11, a P/E ratio of 476.81, a price-to-earnings-growth ratio of 7.16 and a beta of 1.07. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.01. The Ultimate Software Group has a 12-month low of $181.59 and a 12-month high of $242.93.

The Ultimate Software Group (NASDAQ:ULTI) last announced its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.24. The firm had revenue of $251.43 million for the quarter, compared to the consensus estimate of $244.83 million. The Ultimate Software Group had a return on equity of 5.31% and a net margin of 1.59%. The business’s revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.91 earnings per share. equities analysts forecast that The Ultimate Software Group will post 1.44 EPS for the current year.

In related news, Director James A. Fitzpatrick, Jr. sold 4,230 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $228.63, for a total value of $967,104.90. Following the completion of the sale, the director now directly owns 9,145 shares in the company, valued at $2,090,821.35. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Robert Manne sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $228.85, for a total value of $1,144,250.00. Following the completion of the sale, the vice president now owns 63,873 shares of the company’s stock, valued at $14,617,336.05. The disclosure for this sale can be found here. Insiders own 4.90% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Westpac Banking Corp boosted its stake in shares of The Ultimate Software Group by 88.2% in the third quarter. Westpac Banking Corp now owns 25,633 shares of the technology company’s stock valued at $4,860,000 after buying an additional 12,012 shares during the period. Bamco Inc. NY boosted its stake in shares of The Ultimate Software Group by 32.6% in the third quarter. Bamco Inc. NY now owns 520,740 shares of the technology company’s stock valued at $98,732,000 after buying an additional 128,099 shares during the period. Bank of Nova Scotia bought a new stake in shares of The Ultimate Software Group in the second quarter valued at approximately $1,884,000. Quantbot Technologies LP bought a new stake in shares of The Ultimate Software Group in the third quarter valued at approximately $1,161,000. Finally, Schroder Investment Management Group bought a new stake in shares of The Ultimate Software Group in the third quarter valued at approximately $493,000.

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About The Ultimate Software Group

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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