The Ultimate Software Group, Inc. (ULTI) Expected to Announce Quarterly Sales of $300.65 Million

Equities analysts predict that The Ultimate Software Group, Inc. (NASDAQ:ULTI) will report sales of $300.65 million for the current fiscal quarter, according to Zacks. Twelve analysts have provided estimates for The Ultimate Software Group’s earnings. The lowest sales estimate is $299.61 million and the highest is $302.91 million. The Ultimate Software Group posted sales of $251.43 million in the same quarter last year, which suggests a positive year-over-year growth rate of 19.6%. The business is expected to announce its next earnings report on Tuesday, February 5th.

On average, analysts expect that The Ultimate Software Group will report full year sales of $1.14 billion for the current fiscal year. For the next fiscal year, analysts expect that the business will post sales of $1.36 billion, with estimates ranging from $1.36 billion to $1.37 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow The Ultimate Software Group.

The Ultimate Software Group (NASDAQ:ULTI) last announced its quarterly earnings data on Tuesday, October 30th. The technology company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.01. The Ultimate Software Group had a net margin of 4.57% and a return on equity of 8.17%. The company had revenue of $287.83 million during the quarter, compared to analyst estimates of $287.22 million. During the same quarter last year, the business posted $1.05 EPS. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis.

A number of brokerages recently weighed in on ULTI. BidaskClub upgraded shares of The Ultimate Software Group from a “hold” rating to a “buy” rating in a report on Monday, October 15th. Piper Jaffray Companies reiterated an “overweight” rating and set a $360.00 price objective on shares of The Ultimate Software Group in a report on Monday, August 27th. Jefferies Financial Group began coverage on shares of The Ultimate Software Group in a report on Monday, October 1st. They set a “buy” rating and a $370.00 price objective for the company. Guggenheim began coverage on shares of The Ultimate Software Group in a report on Monday, August 20th. They set a “neutral” rating and a $300.00 price objective for the company. Finally, Needham & Company LLC lifted their price objective on shares of The Ultimate Software Group to $370.00 and gave the company a “buy” rating in a report on Monday, September 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $296.38.

ULTI traded down $8.00 on Monday, reaching $250.19. 139,136 shares of the company traded hands, compared to its average volume of 245,928. The Ultimate Software Group has a one year low of $205.01 and a one year high of $332.43. The firm has a market capitalization of $8.07 billion, a price-to-earnings ratio of 308.88, a PEG ratio of 5.75 and a beta of 1.19. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.04 and a quick ratio of 1.04.

In related news, VP Gregory Swick sold 4,252 shares of the business’s stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $257.00, for a total transaction of $1,092,764.00. Following the completion of the transaction, the vice president now owns 25,460 shares in the company, valued at approximately $6,543,220. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James A. Fitzpatrick, Jr. sold 494 shares of the business’s stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $267.20, for a total transaction of $131,996.80. Following the transaction, the director now owns 9,969 shares of the company’s stock, valued at approximately $2,663,716.80. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of ULTI. First Hawaiian Bank bought a new position in shares of The Ultimate Software Group during the 3rd quarter worth approximately $109,000. Brown Brothers Harriman & Co. raised its stake 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 worth $179,000 after acquiring an additional 200 shares in the last quarter. Kornitzer Capital Management Inc. KS bought a new position in shares of The Ultimate Software Group during the 2nd quarter worth approximately $201,000. Alps Advisors Inc. bought a new position in shares of The Ultimate Software Group during the 2nd quarter worth approximately $205,000. Finally, Sawtooth Solutions LLC bought a new position in shares of The Ultimate Software Group during the 2nd quarter worth approximately $205,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.

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 to manage the employee life cycle from recruitment to retirement.

Featured Article: Cost of Equity

Get a free copy of the Zacks research report on The Ultimate Software Group (ULTI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for The Ultimate Software Group (NASDAQ:ULTI)

Receive News & Ratings for The Ultimate Software Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Ultimate Software Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply