The Ultimate Software Group, Inc. (NASDAQ:ULTI) - Equities researchers at Oppenheimer Holdings issued their Q1 2019 earnings estimates for The Ultimate Software Group in a report issued on Wednesday. Oppenheimer Holdings analyst B. Schwartz forecasts that the technology company will earn $0.54 per share for the quarter. Oppenheimer Holdings also issued estimates for The Ultimate Software Group’s Q2 2019 earnings at $0.65 EPS.
The Ultimate Software Group (NASDAQ:ULTI) last announced its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by $0.03. The company had revenue of $224.70 million for the quarter, compared to analyst estimates of $228.02 million. The Ultimate Software Group had a return on equity of 7.20% and a net margin of 3.47%. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the company posted $0.76 earnings per share.
ULTI has been the subject of a number of other reports. Zacks Investment Research downgraded shares of The Ultimate Software Group from a “hold” rating to a “sell” rating in a report on Tuesday, May 2nd. Credit Suisse Group reaffirmed a “buy” rating on shares of The Ultimate Software Group in a report on Monday, July 3rd. Mitsubishi UFJ Financial Group reaffirmed an “overweight” rating on shares of The Ultimate Software Group in a report on Tuesday, April 25th. Canaccord Genuity reaffirmed a “buy” rating and set a $240.00 price objective on shares of The Ultimate Software Group in a report on Friday, April 21st. Finally, Guggenheim reaffirmed a “buy” rating and set a $230.00 price objective on shares of The Ultimate Software Group in a report on Tuesday, April 18th. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $236.78.
Shares of The Ultimate Software Group (NASDAQ:ULTI) traded down 2.18% during mid-day trading on Friday, hitting $196.24. 300,177 shares of the company traded hands. The stock has a market capitalization of $5.84 billion, a PE ratio of 202.52 and a beta of 1.08. The Ultimate Software Group has a 1-year low of $180.29 and a 1-year high of $233.42. The firm’s 50 day moving average price is $217.85 and its 200-day moving average price is $206.02.
Several institutional investors have recently added to or reduced their stakes in the stock. Creative Planning boosted its position in The Ultimate Software Group by 257.4% in the second quarter. Creative Planning now owns 504 shares of the technology company’s stock worth $106,000 after buying an additional 363 shares during the last quarter. Acrospire Investment Management LLC boosted its position in The Ultimate Software Group by 50.0% in the first quarter. Acrospire Investment Management LLC now owns 600 shares of the technology company’s stock worth $117,000 after buying an additional 200 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in The Ultimate Software Group by 1,318.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 709 shares of the technology company’s stock worth $138,000 after buying an additional 659 shares during the last quarter. Sphera Funds Management LTD. purchased a new position in The Ultimate Software Group during the first quarter worth about $156,000. Finally, Huntington National Bank boosted its position in The Ultimate Software Group by 24.7% in the second quarter. Huntington National Bank now owns 857 shares of the technology company’s stock worth $180,000 after buying an additional 170 shares during the last quarter.
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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