The Ultimate Software Group (NASDAQ:ULTI) Cut to “Market Perform” at William Blair

William Blair lowered shares of The Ultimate Software Group (NASDAQ:ULTI) from an outperform rating to a market perform rating in a research note released on Thursday, March 28th, The Fly reports.

Several other analysts also recently weighed in on ULTI. Evercore ISI upgraded shares of The Ultimate Software Group from an in-line rating to an outperform rating and set a $310.00 price objective for the company in a research report on Thursday, December 13th. Zacks Investment Research upgraded shares of The Ultimate Software Group from a strong sell rating to a hold rating in a research report on Saturday, January 5th. BidaskClub upgraded shares of The Ultimate Software Group from a hold rating to a buy rating in a research report on Wednesday, January 9th. Deutsche Bank began coverage on shares of The Ultimate Software Group in a research report on Friday, January 25th. They issued a buy rating and a $267.32 price target for the company. Finally, Goldman Sachs Group began coverage on shares of The Ultimate Software Group in a research report on Friday, February 1st. They issued a neutral rating for the company. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $314.49.

Shares of ULTI stock traded up $0.01 during trading on Thursday, reaching $330.41. The company’s stock had a trading volume of 401,506 shares, compared to its average volume of 636,870. The Ultimate Software Group has a 1-year low of $219.97 and a 1-year high of $365.86. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market capitalization of $10.47 billion, a P/E ratio of 138.25, a price-to-earnings-growth ratio of 6.49 and a beta of 1.33.

The Ultimate Software Group (NASDAQ:ULTI) last issued its quarterly earnings data on Monday, February 4th. The technology company reported $1.95 earnings per share for the quarter, topping the consensus estimate of $0.58 by $1.37. The business had revenue of $304.80 million during the quarter, compared to the consensus estimate of $300.60 million. The Ultimate Software Group had a net margin of 5.71% and a return on equity of 9.90%. The company’s revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.11 EPS. On average, research analysts forecast that The Ultimate Software Group will post 2.4 EPS for the current fiscal year.

In other news, VP Adam Rogers sold 5,495 shares of the company’s stock in a transaction on Monday, February 11th. The shares were sold at an average price of $331.91, for a total transaction of $1,823,845.45. Following the transaction, the vice president now directly owns 56,667 shares of the company’s stock, valued at approximately $18,808,343.97. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Scott Scherr sold 70,809 shares of the company’s stock in a transaction on Monday, February 11th. The stock was sold at an average price of $331.68, for a total transaction of $23,485,929.12. Following the transaction, the chief executive officer now directly owns 251,777 shares in the company, valued at $83,509,395.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 152,522 shares of company stock worth $50,593,109. Corporate insiders own 3.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Carroll Financial Associates Inc. grew its holdings in The Ultimate Software Group by 66.2% during the first quarter. Carroll Financial Associates Inc. now owns 108 shares of the technology company’s stock worth $35,000 after acquiring an additional 43 shares during the period. Advisory Services Network LLC increased its stake in shares of The Ultimate Software Group by 72.2% in the 4th quarter. Advisory Services Network LLC now owns 155 shares of the technology company’s stock valued at $38,000 after purchasing an additional 65 shares during the last quarter. Executive Wealth Management LLC acquired a new stake in shares of The Ultimate Software Group during the 4th quarter valued at $41,000. Fort L.P. acquired a new stake in shares of The Ultimate Software Group during the 4th quarter valued at $84,000. Finally, First Hawaiian Bank boosted its holdings in shares of The Ultimate Software Group by 25.3% during the 4th quarter. First Hawaiian Bank now owns 426 shares of the technology company’s stock valued at $105,000 after acquiring an additional 86 shares in the last quarter. 94.63% of the stock is currently owned by hedge funds and other institutional investors.

The Ultimate Software Group Company Profile

The Ultimate Software Group, Inc provides cloud-based human capital management solutions to enterprise companies, mid-market companies, and companies in the strategic market in the United States, Canada, Europe, the Asia Pacific, and internationally. Its UltiPro software solution delivers the functionality businesses need to manage the employee life cycle from recruitment to retirement.

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Analyst Recommendations for The Ultimate Software Group (NASDAQ:ULTI)

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