The Ultimate Software Group (ULTI) Price Target Raised to $331.50

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The Ultimate Software Group (NASDAQ:ULTI) had its target price raised by research analysts at SunTrust Banks to $331.50 in a report released on Wednesday, The Fly reports. SunTrust Banks’ price objective would indicate a potential downside of 0.15% from the stock’s current price.

A number of other equities research analysts also recently issued reports on ULTI. BidaskClub upgraded The Ultimate Software Group from a “hold” rating to a “buy” rating in a research note on Wednesday, January 9th. Credit Suisse Group downgraded The Ultimate Software Group from an “outperform” rating to a “neutral” rating in a research note on Tuesday. Zacks Investment Research upgraded The Ultimate Software Group from a “strong sell” rating to a “hold” rating in a research note on Saturday, January 5th. Goldman Sachs Group started coverage on The Ultimate Software Group in a research note on Friday, February 1st. They set a “neutral” rating for the company. Finally, Jefferies Financial Group downgraded The Ultimate Software Group from a “buy” rating to a “hold” rating and set a $332.54 price target for the company. in a research note on Tuesday. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The Ultimate Software Group currently has a consensus rating of “Hold” and an average price target of $300.68.

NASDAQ ULTI opened at $332.00 on Wednesday. The Ultimate Software Group has a one year low of $207.02 and a one year high of $365.86. The stock has a market capitalization of $10.40 billion, a P/E ratio of 138.91, a price-to-earnings-growth ratio of 5.71 and a beta of 1.25. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.01.

The Ultimate Software Group (NASDAQ:ULTI) last released its quarterly earnings data on Monday, February 4th. The technology company reported $1.95 EPS for the quarter, topping the consensus estimate of $0.58 by $1.37. The Ultimate Software Group had a return on equity of 10.67% and a net margin of 5.71%. The company had revenue of $304.80 million during the quarter, compared to the consensus estimate of $300.60 million. During the same period last year, the company earned $1.11 EPS. The Ultimate Software Group’s revenue for the quarter was up 21.2% on a year-over-year basis. On average, sell-side analysts expect that The Ultimate Software Group will post 2.74 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of ULTI. First Hawaiian Bank increased its position in shares of The Ultimate Software Group by 25.3% during the 4th quarter. First Hawaiian Bank now owns 426 shares of the technology company’s stock valued at $105,000 after purchasing an additional 86 shares during the last quarter. Brown Brothers Harriman & Co. increased its position in shares of The Ultimate Software Group by 56.3% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 555 shares of the technology company’s stock valued at $179,000 after purchasing an additional 200 shares during the last quarter. We Are One Seven LLC bought a new position in shares of The Ultimate Software Group during the 3rd quarter valued at approximately $207,000. Alpine Global Management LLC bought a new position in shares of The Ultimate Software Group during the 3rd quarter valued at approximately $217,000. Finally, Creative Planning increased its position in shares of The Ultimate Software Group by 5.0% during the 4th quarter. Creative Planning now owns 886 shares of the technology company’s stock valued at $217,000 after purchasing an additional 42 shares during the last quarter. 96.69% of the stock is currently owned by institutional investors and hedge funds.

The Ultimate Software Group Company Profile

The Ultimate Software Group, Inc provides cloud-based human capital management solutions primarily to enterprise companies in the United States and Canada. The company's UltiPro software solution delivers the functionality businesses need to manage the employee life cycle from recruitment to retirement.

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