Pacific Crest Initiates Coverage on The Ultimate Software Group to Overweight

Pacific Crest Initiates Coverage on The Ultimate Software Group(NASDAQ:ULTI). The shares have been rated Overweight. The rating by Pacific Crest was issued on Sep 19, 2016.

In a different note, On Jul 27, 2016, UBS said it Maintains its rating on The Ultimate Software Group. In the research note, the firm Raises the price-target to $237.00 per share. The shares have been rated ‘Buy’ by the firm.

The Ultimate Software Group (ULTI) made into the market gainers list on Thursdays trading session with the shares advancing 1.27% or 2.62 points. Due to strong positive momentum, the stock ended at $208.12, which is also near the day’s high of $208.96. The stock began the session at $206 and the volume stood at 1,36,018 shares. The 52-week high of the shares is $224.069 and the 52 week low is $148.26. The company has a current market capitalization of $6,023 M and it has 2,89,38,028 shares in outstanding.

The Ultimate Software Group(ULTI) last announced its earnings results on Jul 26, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $186.54M. Analysts had an estimated revenue of $187.06M. Earnings per share were $0.76. Analysts had estimated an EPS of $0.76.

Several Insider Transactions has been reported to the SEC. On Aug 9, 2016, Leroy Vander Putten (director) sold 1,351 shares at $210.47 per share price.Also, On Aug 1, 2016, John C Phenicie (Senior VP, Workplace Sales) sold 3,504 shares at $209.45 per share price.On Aug 1, 2016, James A Jr Fitzpatrick (director) sold 913 shares at $209.06 per share price, according to the Form-4 filing with the securities and exchange commission.

The Ultimate Software Group Inc. is a cloud provider of people management solutions referred to as human capital management (HCM). The Company’s UltiPro product suite (UltiPro) is engaging solution that has human resources (HR) payroll and benefits management and includes global people management available in approximately 10 languages with over 35 country-specific localizations. Its solution includes feature sets for talent acquisition and onboarding HR management and compliance benefits management and online enrollment payroll performance management compensation management with salary planning budgeting and development of incentive plans succession management reporting and analytical decision-making and predictive tools and time and attendance. Its customers represent a variety of industries including manufacturing food services sports technology finance insurance retail real estate transportation communications healthcare and other services.

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