The Ultimate Software Group (NASDAQ:ULTI) Cut to “Neutral” at Roth Capital

Roth Capital downgraded shares of The Ultimate Software Group (NASDAQ:ULTI) from a buy rating to a neutral rating in a research note published on Monday, February 4th, The Fly reports.

ULTI has been the subject of several other research reports. UBS Group lowered shares of The Ultimate Software Group to a neutral rating and upped their price target for the stock from $303.00 to $331.50 in a research report on Monday, February 4th. BidaskClub raised shares of The Ultimate Software Group from a hold rating to a buy rating in a research report on Monday, October 15th. Goldman Sachs Group began coverage on shares of The Ultimate Software Group in a research note on Friday, February 1st. They issued a neutral rating for the company. Jefferies Financial Group decreased their target price on shares of The Ultimate Software Group to $330.00 and set a buy rating for the company in a research note on Wednesday, October 31st. Finally, Deutsche Bank began coverage on shares of The Ultimate Software Group in a research note on Friday, January 25th. They issued a buy rating and a $267.32 target price for the company. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The Ultimate Software Group has an average rating of Hold and a consensus price target of $314.68.

ULTI stock traded down $0.05 during trading on Monday, reaching $331.45. 645,416 shares of the company were exchanged, compared to its average volume of 955,088. The Ultimate Software Group has a 52-week low of $219.97 and a 52-week high of $365.86. The company has a market cap of $10.41 billion, a P/E ratio of 138.68, a P/E/G ratio of 6.33 and a beta of 1.25. The company has a current ratio of 1.07, a quick ratio of 1.04 and a debt-to-equity ratio of 0.01.

The Ultimate Software Group (NASDAQ:ULTI) last announced its quarterly earnings results on Monday, February 4th. The technology company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $1.37. The Ultimate Software Group had a net margin of 5.71% and a return on equity of 9.90%. The company had revenue of $304.80 million for the quarter, compared to the consensus estimate of $300.60 million. During the same quarter in the prior year, the firm earned $1.11 earnings per share. The company’s revenue for the quarter was up 21.2% compared to the same quarter last year. On average, equities research analysts expect that The Ultimate Software Group will post 2.48 earnings per share for the current year.

In other The Ultimate Software Group news, COO Marc D. Scherr sold 66,758 shares of the firm’s stock in a transaction dated Monday, February 11th. The shares were sold at an average price of $331.69, for a total transaction of $22,142,961.02. Following the transaction, the chief operating officer now owns 203,371 shares of the company’s stock, valued at approximately $67,456,126.99. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Scott Scherr sold 70,809 shares of the firm’s stock in a transaction dated Monday, February 11th. The shares were 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 approximately $83,509,395.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 152,522 shares of company stock worth $50,593,109. Corporate insiders own 3.00% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in ULTI. Advisory Services Network LLC boosted its holdings in shares of The Ultimate Software Group by 72.2% in the fourth quarter. Advisory Services Network LLC now owns 155 shares of the technology company’s stock worth $38,000 after buying an additional 65 shares during the period. Executive Wealth Management LLC acquired a new stake in shares of The Ultimate Software Group during the fourth quarter worth approximately $41,000. First Hawaiian Bank acquired a new stake in shares of The Ultimate Software Group during the third quarter worth approximately $109,000. Fort L.P. acquired a new stake in shares of The Ultimate Software Group during the fourth quarter worth approximately $84,000. Finally, Lake Point Wealth Management acquired a new stake in shares of The Ultimate Software Group during the fourth quarter worth approximately $122,000. 98.39% of the stock is currently owned by institutional investors.

The 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 need to manage the employee life cycle from recruitment to retirement.

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