Wall Street brokerages expect The Ultimate Software Group, Inc. (NASDAQ:ULTI) to post sales of $300.65 million for the current fiscal quarter, Zacks reports. Twelve analysts have issued estimates for The Ultimate Software Group’s earnings, with the lowest sales estimate coming in at $299.61 million and the highest estimate coming in at $302.91 million. The Ultimate Software Group reported sales of $251.43 million in the same quarter last year, which indicates a positive year-over-year growth rate of 19.6%. The business is scheduled to announce its next quarterly earnings report on Tuesday, February 5th.

According to Zacks, analysts expect that The Ultimate Software Group will report full year sales of $1.14 billion for the current year. For the next financial year, analysts anticipate that the company will report sales of $1.36 billion, with estimates ranging from $1.36 billion to $1.37 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow The Ultimate Software Group.

The Ultimate Software Group (NASDAQ:ULTI) last posted its quarterly earnings results on Tuesday, October 30th. The technology company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.01. The Ultimate Software Group had a net margin of 4.57% and a return on equity of 8.17%. The business had revenue of $287.83 million during the quarter, compared to the consensus estimate of $287.22 million. During the same quarter last year, the firm posted $1.05 EPS. The Ultimate Software Group’s revenue was up 21.9% compared to the same quarter last year.

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A number of equities analysts have commented on the company. Evercore ISI raised The Ultimate Software Group from an “in-line” rating to an “outperform” rating and set a $310.00 target price for the company in a report on Thursday, December 13th. BidaskClub raised The Ultimate Software Group from a “sell” rating to a “hold” rating in a report on Friday, November 23rd. Jefferies Financial Group cut their price target on The Ultimate Software Group to $330.00 and set a “buy” rating for the company in a report on Wednesday, October 31st. Bank of America increased their price target on The Ultimate Software Group from $258.00 to $266.00 and gave the company an “underperform” rating in a report on Wednesday, September 26th. Finally, Needham & Company LLC increased their price target on The Ultimate Software Group to $370.00 and gave the company a “buy” rating in a report on Monday, September 17th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $297.33.

In other The Ultimate Software Group news, Director James A. Fitzpatrick, Jr. sold 494 shares of the business’s stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $267.20, for a total value of $131,996.80. Following the completion of the transaction, the director now directly owns 9,969 shares in the company, valued at approximately $2,663,716.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Gregory Swick sold 4,252 shares of the business’s stock in a transaction on Tuesday, November 6th. The shares were sold at an average price of $257.00, for a total value of $1,092,764.00. Following the completion of the transaction, the vice president now owns 25,460 shares of the company’s stock, valued at $6,543,220. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Teachers Advisors LLC boosted its position in The Ultimate Software Group by 0.4% in the 3rd quarter. Teachers Advisors LLC now owns 45,235 shares of the technology company’s stock valued at $14,574,000 after buying an additional 194 shares during the last quarter. Federated Investors Inc. PA boosted its position in The Ultimate Software Group by 125.1% in the 3rd quarter. Federated Investors Inc. PA now owns 36,530 shares of the technology company’s stock valued at $11,769,000 after buying an additional 20,299 shares during the last quarter. Vanguard Group Inc boosted its position in The Ultimate Software Group by 4.4% in the 3rd quarter. Vanguard Group Inc now owns 2,666,371 shares of the technology company’s stock valued at $859,078,000 after buying an additional 112,463 shares during the last quarter. Morgan Stanley boosted its position in The Ultimate Software Group by 189.6% in the 3rd quarter. Morgan Stanley now owns 156,289 shares of the technology company’s stock valued at $50,356,000 after buying an additional 102,320 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in The Ultimate Software Group by 1.9% in the 3rd quarter. Legal & General Group Plc now owns 34,549 shares of the technology company’s stock valued at $11,131,000 after buying an additional 634 shares during the last quarter. Institutional investors and hedge funds own 96.55% of the company’s stock.

ULTI stock traded up $2.13 during mid-day trading on Thursday, reaching $244.87. 284,326 shares of the company’s stock were exchanged, compared to its average volume of 241,276. The company has a market capitalization of $7.59 billion, a P/E ratio of 302.31, a P/E/G ratio of 5.41 and a beta of 1.19. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.01. The Ultimate Software Group has a 12-month low of $207.02 and a 12-month high of $332.43.

About The Ultimate Software Group

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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