Credit Suisse Assigns a Buy Rating on Ultimate Software


In a report released yesterday, Brad Zelnick from Credit Suisse assigned a Buy rating to Ultimate Software (NASDAQ: ULTI), with a price target of $280. The company’s shares closed yesterday at $284.66, close to its 52-week high of $285.84.

According to TipRanks.com, Zelnick is a 4-star analyst with an average return of 11.6% and a 71.1% success rate. Zelnick covers the Technology sector, focusing on stocks such as SS&C Technologies Holdings, Cornerstone Ondemand, and Everbridge Inc.

Currently, the analyst consensus on Ultimate Software is a Moderate Buy with an average price target of $271, representing a -4.8% downside. In a report released yesterday, MUFG Securities Americas Inc also maintained a Buy rating on the stock with a $264 price target.

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The company has a one-year high of $285.84 and a one-year low of $181.59. Currently, Ultimate Software has an average volume of 252.6K.

Based on the recent corporate insider activity of 80 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ULTI in relation to earlier this year. Most recently, in April 2018, Rick Wilber, a Director at ULTI bought 3,750 shares for a total of $122,025.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

The Ultimate Software Group, Inc. engages in the development and provision of cloud-based human capital management solutions. Its products include solutions for talent acquisition and on boarding, human resources management and compliance, benefits management and online enrollment, payroll, performance management, salary planning and budgeting for compensation management, succession management, reporting and analytical decision-making tools, and time and attendance. It also offers role-based features for human resources professionals, executives, managers, administrators, and employees whether they are in or out of the office. The company was founded by Scott S. Scherr in April 1996 and is headquartered in Weston, FL.

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