The Ultimate Software Group, Inc. to Publish Q3 2018 Revenue of $0.49 Per Share, Oppenheimer Forecasts (ULTI)

The Ultimate Software Group, Inc. to Publish Q3 2018 Revenue of $0.49 Per Share, Oppenheimer Forecasts (ULTI)

The Ultimate Software Group, Inc. (NASDAQ:ULTI) – Oppenheimer cut their Q3 2018 EPS estimates for The Ultimate Software Group in a research report issued on Wednesday, May 2nd. Oppenheimer analyst B. Schwartz now anticipates that the technology company will post earnings of $0.49 per share for the quarter, down from their prior estimate of $0.52. Oppenheimer also issued estimates for The Ultimate Software Group’s FY2018 earnings at $2.02 EPS, Q1 2019 earnings at $0.32 EPS, Q2 2019 earnings at $0.54 EPS, Q3 2019 earnings at $0.74 EPS, Q4 2019 earnings at $0.95 EPS and FY2019 earnings at $2.55 EPS.

The Ultimate Software Group (NASDAQ:ULTI) last released its earnings results on Tuesday, May 1st. The technology company reported $1.30 EPS for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.17. The company had revenue of $277.00 million for the quarter, compared to analysts’ expectations of $270.80 million. The Ultimate Software Group had a return on equity of 6.24% and a net margin of 2.90%. The business’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.75 EPS.

ULTI has been the topic of a number of other reports. Piper Jaffray reiterated an “overweight” rating and set a $250.00 target price on shares of The Ultimate Software Group in a research note on Tuesday, January 16th. BidaskClub upgraded The Ultimate Software Group from a “hold” rating to a “buy” rating in a research note on Friday, February 16th. Royal Bank of Canada lifted their target price on The Ultimate Software Group to $260.00 and gave the stock a “positive” rating in a research note on Tuesday, January 30th. JMP Securities lifted their target price on The Ultimate Software Group from $230.00 to $260.00 and gave the stock a “market outperform” rating in a research note on Tuesday, April 17th. Finally, Credit Suisse Group lifted their target price on The Ultimate Software Group from $280.00 to $255.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eighteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $253.29.

NASDAQ ULTI opened at $257.62 on Monday. The firm has a market cap of $7.89 billion, a PE ratio of 318.05, a price-to-earnings-growth ratio of 4.87 and a beta of 0.99. The Ultimate Software Group has a one year low of $181.59 and a one year high of $260.00. The company has a current ratio of 1.08, a quick ratio of 1.18 and a debt-to-equity ratio of 0.01.

In related news, CFO Felicia Alvaro sold 2,000 shares of the business’s stock in a transaction dated Friday, May 4th. The stock was sold at an average price of $250.84, for a total value of $501,680.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Robert Manne sold 5,000 shares of the business’s stock in a transaction dated Thursday, May 3rd. The shares were sold at an average price of $247.12, for a total value of $1,235,600.00. Following the completion of the sale, the vice president now owns 68,692 shares in the company, valued at $16,975,167.04. The disclosure for this sale can be found here. Insiders sold a total of 295,394 shares of company stock worth $66,659,823 over the last 90 days. 3.00% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of ULTI. Dimensional Fund Advisors LP grew its holdings in The Ultimate Software Group by 7.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 77,546 shares of the technology company’s stock valued at $14,701,000 after buying an additional 5,484 shares in the last quarter. GSA Capital Partners LLP purchased a new position in The Ultimate Software Group during the 3rd quarter valued at about $232,000. Summit Creek Advisors LLC grew its holdings in The Ultimate Software Group by 25.2% during the 4th quarter. Summit Creek Advisors LLC now owns 64,790 shares of the technology company’s stock valued at $14,139,000 after buying an additional 13,055 shares in the last quarter. Bank of Montreal Can grew its holdings in The Ultimate Software Group by 28.9% during the 4th quarter. Bank of Montreal Can now owns 15,445 shares of the technology company’s stock valued at $3,370,000 after buying an additional 3,463 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in The Ultimate Software Group by 4.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 93,064 shares of the technology company’s stock valued at $20,310,000 after buying an additional 4,294 shares in the last quarter.

About The Ultimate Software Group

The Ultimate Software Group, Inc (Ultimate) is a cloud provider of people management solutions, referred to as human capital management (HCM). The Company’s UltiPro product suite (UltiPro) is an engaging solution that has human resources (HR), payroll and benefits management. As of December 31, 2016, UltiPro included global people management, available in 14 languages with more than 35 country-specific localizations.

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