The Ultimate Software Group (NASDAQ:ULTI) was downgraded by equities researchers at Wedbush from an “outperform” rating to a “neutral” rating in a note issued to investors on Wednesday. They presently have a $255.00 price target on the technology company’s stock, up from their previous price target of $234.00. Wedbush’s price objective points to a potential upside of 2.80% from the company’s previous close.
Several other brokerages also recently weighed in on ULTI. Mizuho restated a “hold” rating and issued a $200.00 target price on shares of The Ultimate Software Group in a research note on Thursday, December 14th. SunTrust Banks upped their target price on shares of The Ultimate Software Group to $250.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Bank of America increased their price objective on shares of The Ultimate Software Group from $187.00 to $210.00 and gave the company an “underperform” rating in a research note on Thursday, February 8th. BidaskClub downgraded shares of The Ultimate Software Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Canaccord Genuity increased their price objective on shares of The Ultimate Software Group from $240.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $244.95.
The Ultimate Software Group (NASDAQ ULTI) opened at $248.06 on Wednesday. The firm has a market cap of $7,606.07, a price-to-earnings ratio of 516.79, a PEG ratio of 6.14 and a beta of 1.01. 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 Ultimate Software Group has a 52 week low of $181.59 and a 52 week high of $257.93.
In other The Ultimate Software Group news, Director James A. Fitzpatrick, Jr. sold 4,230 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $228.63, for a total transaction of $967,104.90. Following the sale, the director now directly owns 9,145 shares of the company’s stock, valued at $2,090,821.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Scott Scherr sold 110,522 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $224.58, for a total transaction of $24,821,030.76. Following the sale, the chairman now directly owns 343,139 shares in the company, valued at $77,062,156.62. The disclosure for this sale can be found here. Insiders have sold 284,019 shares of company stock worth $63,840,036 over the last three months. 4.90% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the business. Captrust Financial Advisors acquired a new stake in shares of The Ultimate Software Group during the fourth quarter worth $119,000. Zions Bancorporation acquired a new stake in shares of The Ultimate Software Group during the third quarter worth $182,000. CIBC Asset Management Inc acquired a new stake in shares of The Ultimate Software Group in the 4th quarter worth about $213,000. FineMark National Bank & Trust acquired a new stake in shares of The Ultimate Software Group in the 4th quarter worth about $217,000. Finally, Banque Pictet & Cie SA acquired a new stake in shares of The Ultimate Software Group in the 3rd quarter worth about $209,000.
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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.
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