Ultimate Software Receives a Hold from Mizuho Securities

By Ryan Adsit

Mizuho Securities analyst Abhey Lamba assigned a Hold rating to Ultimate Software (NASDAQ: ULTI) yesterday and set a price target of $200. The company’s shares opened today at $207.10.

Lamba noted:

“We hosted Ultimate Software for meetings at our annual investment conference. Commentary indicated sustained traction in the enterprise segment of the market as cloud penetration of HCM solutions rises. The company continues to build out its product suite, with incremental modules for non-payroll functionality. To that end, attach rates of non-payroll modules remain steady in both the enterprise and mid-market segments, supporting n-t growth.”

According to TipRanks.com, Lamba is a 5-star analyst with an average return of 10.7% and a 62.7% success rate. Lamba covers the Technology sector, focusing on stocks such as Black Knight Financial Services, CommVault Systems, and Microstrategy Inc.

Ultimate Software has an analyst consensus of Moderate Buy, with a price target consensus of $233.33.

Based on Ultimate Software’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $236 million and quarterly net profit of $4.7 million. In comparison, last year the company earned revenue of $197 million and had a net profit of $4.76 million.

Based on the recent corporate insider activity of 76 insiders, corporate insider sentiment is neutral on the stock.

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 Web-based payroll and workforce management software solutions. The UltiPro software, which is designed to deliver the functionality businesses need to manage the complete employment life cycle from recruitment to retirement.