The Ultimate Software Group (ULTI) Given Hold Rating at Mizuho

The Ultimate Software Group (NASDAQ:ULTI)‘s stock had its “hold” rating reissued by equities research analysts at Mizuho in a research note issued to investors on Wednesday. They currently have a $200.00 target price on the technology company’s stock. Mizuho’s price objective would indicate a potential downside of 3.43% from the company’s current price.

The analysts wrote, “We hosted Ultimate Software for meetings at our annual investment conference. Commentary indicated sustained traction in the enterprise segment of the market as cloud penetration of HCM solutions rises. The company continues to build out its product suite, with incremental modules for non-payroll functionality. To that end, attach rates of non-payroll modules remain steady in both the enterprise and mid-market segments, supporting n-t growth.””

Several other brokerages have also issued reports on ULTI. Stifel Nicolaus boosted their price target on shares of The Ultimate Software Group from $235.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Royal Bank Of Canada reissued a “buy” rating and issued a $216.00 price target on shares of The Ultimate Software Group in a report on Tuesday, October 10th. Zacks Investment Research raised shares of The Ultimate Software Group from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. BidaskClub raised shares of The Ultimate Software Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Finally, SunTrust Banks reissued a “buy” rating and issued a $225.00 price target on shares of The Ultimate Software Group in a report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $231.58.

Shares of The Ultimate Software Group (NASDAQ:ULTI) traded down $0.95 during mid-day trading on Wednesday, reaching $207.10. 216,283 shares of the company were exchanged, compared to its average volume of 322,325. The Ultimate Software Group has a fifty-two week low of $180.29 and a fifty-two week high of $233.42. The company has a market capitalization of $6,381.77, a price-to-earnings ratio of 203.44, a P/E/G ratio of 16.56 and a beta of 1.08. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.18 and a quick ratio of 1.18.

The Ultimate Software Group (NASDAQ:ULTI) last announced its earnings results on Wednesday, November 1st. The technology company reported $1.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.17. The business had revenue of $236.11 million for the quarter, compared to analyst estimates of $232.92 million. The Ultimate Software Group had a net margin of 3.31% and a return on equity of 6.84%. The Ultimate Software Group’s revenue was up 19.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 earnings per share. equities analysts anticipate that The Ultimate Software Group will post 0.63 EPS for the current fiscal year.

In related news, Director James A. Fitzpatrick, Jr. sold 4,585 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $205.82, for a total transaction of $943,684.70. Following the transaction, the director now owns 14,650 shares in the company, valued at approximately $3,015,263. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Robert Manne sold 5,000 shares of the company’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $206.08, for a total transaction of $1,030,400.00. Following the transaction, the vice president now owns 76,484 shares in the company, valued at approximately $15,761,822.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 116,259 shares of company stock worth $22,912,048. 4.90% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its position in The Ultimate Software Group by 4.9% during the 2nd quarter. FMR LLC now owns 3,869,769 shares of the technology company’s stock valued at $812,884,000 after purchasing an additional 180,698 shares during the period. Janus Henderson Group PLC lifted its position in The Ultimate Software Group by 10.5% during the 3rd quarter. Janus Henderson Group PLC now owns 2,480,892 shares of the technology company’s stock valued at $470,377,000 after purchasing an additional 235,848 shares during the period. BlackRock Inc. lifted its position in The Ultimate Software Group by 1.4% during the 2nd quarter. BlackRock Inc. now owns 2,421,091 shares of the technology company’s stock valued at $508,574,000 after purchasing an additional 32,430 shares during the period. Vanguard Group Inc. lifted its position in The Ultimate Software Group by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 2,300,574 shares of the technology company’s stock valued at $483,258,000 after purchasing an additional 71,422 shares during the period. Finally, Wells Fargo & Company MN lifted its position in The Ultimate Software Group by 2.7% during the 3rd quarter. Wells Fargo & Company MN now owns 1,206,051 shares of the technology company’s stock valued at $228,666,000 after purchasing an additional 31,945 shares during the period.

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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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