Revenue Update on The Ultimate Software Group(NASDAQ:ULTI)

The Ultimate Software Group(NASDAQ:ULTI) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 26, 2016. Company reported revenue of $186.54M. Analysts estimated a revenue of $187.06M. Earnings per share were $0.76. Analysts had estimated an EPS of $0.76.

In a different note, On Jun 1, 2016, Piper Jaffray said it Assumes its rating on The Ultimate Software Group. The shares have been rated ‘Overweight’ by the firm. Goldman Sachs said it Initiates Coverage on The Ultimate Software Group, according to a research note issued on May 23, 2016. The shares have been rated ‘Neutral’ by the firm.

The Ultimate Software Group (ULTI) shares turned negative on Fridays trading session with the shares closing down -1.57 points or -0.75% at a volume of 2,90,994. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $210.52. The peak price level was also seen at $210.52 while the days lowest was $206.185. Finally the shares closed at $209.1. The 52-week high of the shares is $224.069 while the 52-week low is $148.26. According to the latest information available, the market cap of the company is $6,038 M.

Several Insider Transactions has been reported to the SEC. On Apr 28, 2016, James A Jr Fitzpatrick (director) sold 931 shares at $199.38 per share price.Also, On Mar 8, 2016, Robert Manne (Senior VP, General Counsel) sold 20,000 shares at $174.44 per share price.On Feb 23, 2016, Leroy Vander Putten (director) sold 1,399 shares at $166.76 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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