Ultimate Software Group (ULTI) Sets New 1-Year High and Low at $265.82

Shares of Ultimate Software Group, Inc. (NASDAQ:ULTI) hit a new 52-week high and low during trading on Thursday . The stock traded as low as $265.82 and last traded at $263.43, with a volume of 3362 shares. The stock had previously closed at $264.21.

Several analysts recently commented on the company. TheStreet raised Ultimate Software Group from a “c+” rating to a “b-” rating in a report on Tuesday, May 1st. Needham & Company LLC lifted their price objective on Ultimate Software Group to $280.00 and gave the stock a “buy” rating in a report on Wednesday, May 2nd. Stifel Nicolaus lifted their price objective on Ultimate Software Group from $250.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, May 2nd. Credit Suisse Group lifted their price objective on Ultimate Software Group from $280.00 to $255.00 and gave the stock an “outperform” rating in a report on Wednesday, May 2nd. Finally, BidaskClub raised Ultimate Software Group from a “hold” rating to a “buy” rating in a report on Friday, May 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eighteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $253.29.

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The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.01. The firm has a market cap of $7.99 billion, a PE ratio of 325.51, a PEG ratio of 5.33 and a beta of 0.99.

Ultimate Software Group (NASDAQ:ULTI) last released its quarterly earnings results on Tuesday, May 1st. The technology company reported $1.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.17. Ultimate Software Group had a return on equity of 6.24% and a net margin of 2.90%. The business had revenue of $277.00 million during the quarter, compared to analyst estimates of $270.80 million. During the same quarter in the previous year, the company posted $0.75 earnings per share. Ultimate Software Group’s revenue for the quarter was up 21.2% on a year-over-year basis. equities analysts anticipate that Ultimate Software Group, Inc. will post 2.25 earnings per share for the current fiscal year.

In other news, Director James A. Fitzpatrick, Jr. sold 4,375 shares of the business’s stock in a transaction dated Thursday, May 3rd. The stock was sold at an average price of $247.43, for a total value of $1,082,506.25. Following the transaction, the director now directly owns 10,200 shares in the company, valued at $2,523,786. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert Manne sold 5,000 shares of the business’s stock in a transaction dated Thursday, May 3rd. The shares were sold at an average price of $247.12, for a total value of $1,235,600.00. Following the completion of the transaction, the vice president now owns 68,692 shares in the company, valued at $16,975,167.04. The disclosure for this sale can be found here. Insiders have sold 16,375 shares of company stock valued at $4,044,586 in the last three months. 3.00% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in ULTI. Dimensional Fund Advisors LP lifted its position in shares of Ultimate Software Group by 7.6% in the third quarter. Dimensional Fund Advisors LP now owns 77,546 shares of the technology company’s stock valued at $14,701,000 after acquiring an additional 5,484 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Ultimate Software Group by 28.9% in the fourth quarter. Bank of Montreal Can now owns 15,445 shares of the technology company’s stock worth $3,370,000 after buying an additional 3,463 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Ultimate Software Group by 4.8% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 93,064 shares of the technology company’s stock worth $20,310,000 after buying an additional 4,294 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Ultimate Software Group in the fourth quarter worth about $458,000. Finally, SG Americas Securities LLC lifted its position in shares of Ultimate Software Group by 346.5% in the fourth quarter. SG Americas Securities LLC now owns 4,612 shares of the technology company’s stock worth $1,006,000 after buying an additional 3,579 shares in the last quarter.

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.