Analysts Set The Ultimate Software Group, Inc. (ULTI) Target Price at $318.73

Shares of The Ultimate Software Group, Inc. (NASDAQ:ULTI) have earned a consensus recommendation of “Hold” from the twenty-four analysts that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, fifteen have issued a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $318.73.

A number of equities research analysts recently commented on the stock. ValuEngine cut shares of The Ultimate Software Group from a “strong-buy” rating to a “buy” rating in a report on Monday, April 1st. BidaskClub cut shares of The Ultimate Software Group from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. Zacks Investment Research cut shares of The Ultimate Software Group from a “buy” rating to a “hold” rating in a report on Friday, April 12th. JPMorgan Chase & Co. cut shares of The Ultimate Software Group from an “overweight” rating to a “neutral” rating in a report on Wednesday, March 27th. Finally, Royal Bank of Canada cut shares of The Ultimate Software Group from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $340.00 to $331.50 in a report on Tuesday, March 26th.

Shares of NASDAQ:ULTI remained flat at $$331.36 during mid-day trading on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.01. The company has a market cap of $10.50 billion, a P/E ratio of 138.64, a P/E/G ratio of 6.51 and a beta of 1.29. The Ultimate Software Group has a one year low of $219.97 and a one year high of $365.86.

A number of hedge funds have recently modified their holdings of ULTI. Alpine Associates Management Inc. bought a new position in shares of The Ultimate Software Group in the first quarter worth $115,954,000. Norges Bank bought a new position in shares of The Ultimate Software Group in the fourth quarter worth $58,132,000. Goldman Sachs Group Inc. increased its holdings in shares of The Ultimate Software Group by 107.1% in the first quarter. Goldman Sachs Group Inc. now owns 405,635 shares of the technology company’s stock worth $133,912,000 after purchasing an additional 209,784 shares during the period. Water Island Capital LLC bought a new position in shares of The Ultimate Software Group in the first quarter worth $65,677,000. Finally, CNH Partners LLC bought a new position in shares of The Ultimate Software Group in the first quarter worth $60,076,000. 91.20% of the stock is currently owned by institutional investors and hedge funds.

About The Ultimate Software Group

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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