JMP Securities Raises The Ultimate Software Group (ULTI) Price Target to $260.00

The Ultimate Software Group (NASDAQ:ULTI) had its target price upped by JMP Securities from $230.00 to $260.00 in a research note issued to investors on Tuesday morning. They currently have a market outperform rating on the technology company’s stock.

A number of other analysts have also recently issued reports on the stock. Piper Jaffray reiterated an overweight rating and issued a $250.00 target price on shares of The Ultimate Software Group in a research note on Tuesday, January 16th. BidaskClub lowered shares of The Ultimate Software Group from a buy rating to a hold rating in a research report on Thursday, January 18th. Citigroup reissued an overweight rating and issued a $232.00 price target on shares of The Ultimate Software Group in a research report on Wednesday, February 7th. Zacks Investment Research raised shares of The Ultimate Software Group from a hold rating to a buy rating and set a $252.00 price target on the stock in a research report on Saturday, February 3rd. Finally, Mizuho raised shares of The Ultimate Software Group from a neutral rating to a buy rating and set a $200.00 price target on the stock in a research report on Monday, January 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eighteen have issued a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $245.45.

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NASDAQ ULTI opened at $248.79 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $7,789.58, a price-to-earnings ratio of 307.15, a price-to-earnings-growth ratio of 6.15 and a beta of 0.97. The Ultimate Software Group has a 12-month low of $181.59 and a 12-month high of $257.93.

The Ultimate Software Group (NASDAQ:ULTI) last posted its earnings results on Tuesday, February 6th. The technology company reported $1.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.24. The firm had revenue of $251.43 million during the quarter, compared to analysts’ expectations of $244.83 million. The Ultimate Software Group had a net margin of 1.59% and a return on equity of 5.31%. The company’s revenue was up 19.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 earnings per share. analysts anticipate that The Ultimate Software Group will post 1.83 EPS for the current fiscal year.

In related news, Director Rick Wilber sold 5,000 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $244.96, for a total transaction of $1,224,800.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Marc D. Scherr sold 32,156 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $222.36, for a total transaction of $7,150,208.16. Following the transaction, the chief operating officer now directly owns 304,939 shares in the company, valued at approximately $67,806,236.04. The disclosure for this sale can be found here. Insiders have sold 284,019 shares of company stock worth $63,840,036 in the last ninety days. 3.00% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in ULTI. Carillon Tower Advisers Inc. bought a new position in The Ultimate Software Group during the fourth quarter worth $137,283,000. Millennium Management LLC increased its position in The Ultimate Software Group by 279.8% during the fourth quarter. Millennium Management LLC now owns 272,126 shares of the technology company’s stock worth $59,386,000 after acquiring an additional 200,469 shares during the period. William Blair Investment Management LLC increased its position in The Ultimate Software Group by 60.3% during the fourth quarter. William Blair Investment Management LLC now owns 378,492 shares of the technology company’s stock worth $82,598,000 after acquiring an additional 142,353 shares during the period. Victory Capital Management Inc. increased its position in The Ultimate Software Group by 21.1% during the fourth quarter. Victory Capital Management Inc. now owns 456,014 shares of the technology company’s stock worth $99,516,000 after acquiring an additional 79,585 shares during the period. Finally, Bain Capital Public Equity Management LLC increased its position in The Ultimate Software Group by 124.4% during the fourth quarter. Bain Capital Public Equity Management LLC now owns 120,294 shares of the technology company’s stock worth $26,252,000 after acquiring an additional 66,697 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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