Today, Analysts Set The Ultimate Software Group Inc. (NASDAQ:ULTI) PT at $220.72

Today, Analysts Set The Ultimate Software Group Inc. (NASDAQ:ULTI) PT at $220.72

Shares of The Ultimate Software Group Inc. (NASDAQ:ULTI) have been given a consensus rating of “Buy” by the twenty-three brokerages that are presently covering the company. Eight investment analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $220.72.

A number of equities research analysts recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $250.00 target price on shares of The Ultimate Software Group in a research note on Wednesday, July 27th. Zacks Investment Research raised The Ultimate Software Group from a “hold” rating to a “buy” rating and set a $224.00 target price on the stock in a research note on Wednesday, June 29th. Pacific Crest assumed coverage on The Ultimate Software Group in a research note on Monday, September 19th. They issued an “overweight” rating and a $245.00 target price on the stock. Wedbush reaffirmed a “neutral” rating and issued a $203.00 target price on shares of The Ultimate Software Group in a research note on Monday, July 25th. Finally, Stifel Nicolaus upped their target price on The Ultimate Software Group from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, July 27th.

The Ultimate Software Group (NASDAQ:ULTI) opened at 206.37 on Tuesday. The company has a 50-day moving average price of $207.77 and a 200-day moving average price of $203.66. The stock has a market capitalization of $5.97 billion, a price-to-earnings ratio of 322.96 and a beta of 1.27. The Ultimate Software Group has a 12-month low of $148.26 and a 12-month high of $224.07.

The Ultimate Software Group (NASDAQ:ULTI) last posted its earnings results on Tuesday, July 26th. The company reported $0.76 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.76. The Ultimate Software Group had a return on equity of 3.71% and a net margin of 2.71%. The firm had revenue of $186.50 million for the quarter, compared to analyst estimates of $187.06 million. During the same quarter in the prior year, the company earned $0.62 EPS. The Ultimate Software Group’s revenue was up 94.6% on a year-over-year basis. On average, equities research analysts forecast that The Ultimate Software Group will post $3.29 earnings per share for the current year.

In related news, Director James A. Fitzpatrick, Jr. sold 913 shares of the stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $209.06, for a total value of $190,871.78. Following the completion of the sale, the director now directly owns 11,955 shares in the company, valued at approximately $2,499,312.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP John C. Phenicie sold 3,504 shares of the stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $209.45, for a total value of $733,912.80. Following the completion of the sale, the vice president now owns 55,524 shares of the company’s stock, valued at $11,629,501.80. The disclosure for this sale can be found here. 5.60% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the stock. Mariner Wealth Advisors LLC bought a new stake in shares of The Ultimate Software Group during the second quarter valued at about $203,000. Bank of Hawaii acquired a new stake in shares of The Ultimate Software Group during the second quarter valued at $213,000. Advisors Asset Management Inc. increased its stake in shares of The Ultimate Software Group by 2.3% in the second quarter. Advisors Asset Management Inc. now owns 1,047 shares of the company’s stock valued at $220,000 after buying an additional 24 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of The Ultimate Software Group during the second quarter valued at $226,000. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of The Ultimate Software Group by 15,425.0% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,242 shares of the company’s stock valued at $240,000 after buying an additional 1,234 shares in the last quarter. Hedge funds and other institutional investors own 97.62% of the company’s stock.

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