Traders Buy Shares of The Ultimate Software Group (ULTI) on Weakness

Investors bought shares of The Ultimate Software Group, Inc. (NASDAQ:ULTI) on weakness during trading on Wednesday. $29.74 million flowed into the stock on the tick-up and $8.77 million flowed out of the stock on the tick-down, for a money net flow of $20.97 million into the stock. Of all stocks tracked, The Ultimate Software Group had the 33rd highest net in-flow for the day. The Ultimate Software Group traded down ($1.03) for the day and closed at $215.94

A number of equities research analysts have issued reports on ULTI shares. Canaccord Genuity upped their price objective on shares of The Ultimate Software Group from $225.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Royal Bank of Canada reaffirmed a “buy” rating and issued a $210.00 price objective on shares of The Ultimate Software Group in a research report on Friday, October 20th. Stifel Nicolaus boosted their target price on shares of The Ultimate Software Group from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. SunTrust Banks reiterated a “buy” rating and issued a $225.00 target price on shares of The Ultimate Software Group in a research note on Friday, November 3rd. Finally, BidaskClub upgraded shares of The Ultimate Software Group from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $231.58.

The stock has a market capitalization of $6,451.38, a P/E ratio of 223.60, a P/E/G ratio of 16.74 and a beta of 1.08. 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 (NASDAQ:ULTI) last announced its quarterly earnings results on Wednesday, November 1st. The technology company reported $1.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.17. The company had revenue of $236.11 million for the quarter, compared to analysts’ expectations 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 period in the prior year, the company posted $0.78 EPS. equities analysts forecast that The Ultimate Software Group, Inc. will post 0.63 earnings per share for the current fiscal year.

In related news, COO Marc D. Scherr sold 29,992 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $196.25, for a total transaction of $5,885,930.00. Following the sale, the chief operating officer now directly owns 368,756 shares in the company, valued at approximately $72,368,365. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alois T. Leiter sold 5,559 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $198.16, for a total transaction of $1,101,571.44. Following the sale, the director now owns 165,596 shares in the company, valued at $32,814,503.36. The disclosure for this sale can be found here. Insiders have sold a total of 116,259 shares of company stock worth $22,912,048 over the last 90 days. 4.90% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of ULTI. Schwab Charles Investment Management Inc. lifted its stake in The Ultimate Software Group by 5.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 87,759 shares of the technology company’s stock worth $18,435,000 after purchasing an additional 4,691 shares in the last quarter. State of Wisconsin Investment Board lifted its stake in The Ultimate Software Group by 2.9% in the 2nd quarter. State of Wisconsin Investment Board now owns 5,679 shares of the technology company’s stock worth $1,193,000 after purchasing an additional 160 shares in the last quarter. Legal & General Group Plc lifted its stake in The Ultimate Software Group by 21.9% in the 2nd quarter. Legal & General Group Plc now owns 22,731 shares of the technology company’s stock worth $4,775,000 after purchasing an additional 4,083 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in The Ultimate Software Group by 71.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 11,207 shares of the technology company’s stock worth $2,354,000 after purchasing an additional 4,668 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its stake in The Ultimate Software Group by 1.8% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 40,296 shares of the technology company’s stock worth $8,465,000 after purchasing an additional 716 shares in the last quarter.

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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.

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