Ultimate Software (ULTI) Gets a Hold Rating from Evercore ISI


Evercore ISI analyst Kirk Materne maintained a Hold rating on Ultimate Software (NASDAQ: ULTI) on July 31 and set a price target of $290. The company’s shares closed on Friday at $282.99, close to its 52-week high of $297.93.

According to TipRanks.com, Materne is a 5-star analyst with an average return of 28.2% and a 82.9% success rate. Materne covers the Technology sector, focusing on stocks such as Salesforce.com, Oracle Corp, and Workday Inc.

Ultimate Software has an analyst consensus of Strong Buy, with a price target consensus of $311.69, representing a 10.1% upside. In a report issued on July 31, Robert W. Baird also reiterated a Hold rating on the stock with a $285 price target.

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Based on Ultimate Software’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $13.68 million. In comparison, last year the company had a net profit of $5 million.

Based on the recent corporate insider activity of 83 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.

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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