FY2018 Earnings Estimate for The Ultimate Software Group, Inc. Issued By Wedbush (ULTI)

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The Ultimate Software Group, Inc. (NASDAQ:ULTI) – Equities researchers at Wedbush dropped their FY2018 earnings estimates for shares of The Ultimate Software Group in a note issued to investors on Wednesday, October 31st. Wedbush analyst S. Koenig now anticipates that the technology company will post earnings per share of $2.14 for the year, down from their previous estimate of $2.20. Wedbush has a “Neutral” rating and a $260.00 price objective on the stock. Wedbush also issued estimates for The Ultimate Software Group’s Q4 2018 earnings at $0.59 EPS, Q1 2019 earnings at $0.56 EPS, Q2 2019 earnings at $0.62 EPS, Q3 2019 earnings at $0.77 EPS, Q4 2019 earnings at $0.78 EPS, FY2019 earnings at $2.73 EPS and FY2020 earnings at $3.87 EPS.

The Ultimate Software Group (NASDAQ:ULTI) last issued its quarterly earnings data on Tuesday, October 30th. The technology company reported $1.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.01. The firm had revenue of $287.83 million during the quarter, compared to analyst estimates of $287.22 million. The Ultimate Software Group had a return on equity of 8.18% and a net margin of 4.57%. The business’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.05 earnings per share.

Several other research firms have also commented on ULTI. Mitsubishi UFJ Financial Group lifted their price target on The Ultimate Software Group to $302.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 1st. Needham & Company LLC lifted their price target on The Ultimate Software Group to $310.00 and gave the stock a “$291.92” rating in a research report on Wednesday, July 18th. They noted that the move was a valuation call. SunTrust Banks lifted their price target on The Ultimate Software Group to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Jefferies Financial Group initiated coverage on The Ultimate Software Group in a research report on Monday, October 1st. They issued a “buy” rating and a $370.00 price target for the company. Finally, BidaskClub lowered The Ultimate Software Group from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $296.38.

ULTI opened at $254.81 on Monday. The stock has a market capitalization of $8.13 billion, a P/E ratio of 314.58, a P/E/G ratio of 5.81 and a beta of 1.19. The Ultimate Software Group has a 12 month low of $193.08 and a 12 month high of $332.43. The company has a quick ratio of 1.14, a current ratio of 1.04 and a debt-to-equity ratio of 0.01.

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

Hedge funds and other institutional investors have recently made changes to their positions in the business. UBS Group AG raised its stake in shares of The Ultimate Software Group by 9.5% during the first quarter. UBS Group AG now owns 17,984 shares of the technology company’s stock valued at $4,383,000 after acquiring an additional 1,562 shares in the last quarter. LPL Financial LLC raised its stake in shares of The Ultimate Software Group by 10.9% during the first quarter. LPL Financial LLC now owns 3,589 shares of the technology company’s stock valued at $869,000 after acquiring an additional 352 shares in the last quarter. Legal & General Group Plc raised its stake in shares of The Ultimate Software Group by 17.3% during the first quarter. Legal & General Group Plc now owns 32,278 shares of the technology company’s stock valued at $7,866,000 after acquiring an additional 4,757 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of The Ultimate Software Group by 6.9% during the first quarter. Principal Financial Group Inc. now owns 126,783 shares of the technology company’s stock valued at $30,897,000 after acquiring an additional 8,194 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of The Ultimate Software Group during the first quarter valued at approximately $234,000. 99.98% of the stock is owned by institutional investors and hedge funds.

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 to manage the employee life cycle from recruitment to retirement.

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Earnings History and Estimates for The Ultimate Software Group (NASDAQ:ULTI)

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