Stock Mover of The Day: After Today’s Gap Down, Is The Ultimate Software Group, Inc.’s Near-Term Analysis Negative?

Stock Mover of The Day: After Today's Gap Down, Is The Ultimate Software Group, Inc.'s Near Term Analysis Negative?

The stock of The Ultimate Software Group, Inc. (NASDAQ:ULTI) gapped down by $0.03 today and has $194.17 target or 5.00% below today’s $204.39 share price. The 7 months technical chart setup indicates high risk for the $5.77B company. The gap down was reported on Oct, 1 by Barchart.com. If the $194.17 price target is reached, the company will be worth $288.50M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 0.53% or $1.09 during the last trading session, hitting $204.39. About 233,405 shares traded hands or 46.95% up from the average. The Ultimate Software Group, Inc. (NASDAQ:ULTI) has risen 19.00% since February 29, 2016 and is uptrending. It has outperformed by 8.57% the S&P500.

Analysts await The Ultimate Software Group, Inc. (NASDAQ:ULTI) to report earnings on October, 25. They expect $0.20 earnings per share, down 4.76% or $0.01 from last year’s $0.21 per share. ULTI’s profit will be $5.65M for 255.49 P/E if the $0.20 EPS becomes a reality. After $0.07 actual earnings per share reported by The Ultimate Software Group, Inc. for the previous quarter, Wall Street now forecasts 185.71% EPS growth.

The Ultimate Software Group, Inc. (NASDAQ:ULTI) Ratings Coverage

Out of 15 analysts covering Ultimate Software (NASDAQ:ULTI), 11 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 73% are positive. Ultimate Software has been the topic of 21 analyst reports since October 22, 2015 according to StockzIntelligence Inc. The stock of The Ultimate Software Group, Inc. (NASDAQ:ULTI) earned “Buy” rating by Deutsche Bank on Wednesday, October 28. Wedbush maintained the shares of ULTI in a report on Thursday, April 28 with “Neutral” rating. As per Wednesday, October 28, the company rating was maintained by Stifel Nicolaus. The firm has “Overweight” rating by Piper Jaffray given on Wednesday, June 1. Northland Capital maintained The Ultimate Software Group, Inc. (NASDAQ:ULTI) rating on Wednesday, October 28. Northland Capital has “Outperform” rating and $230 price target. As per Wednesday, February 3, the company rating was maintained by Wedbush. The firm has “Outperform” rating given on Wednesday, February 3 by RBC Capital Markets. The rating was initiated by UBS on Tuesday, April 19 with “Buy”. On Wednesday, October 28 the stock rating was maintained by Roth Capital with “Buy”. RBC Capital Markets maintained the shares of ULTI in a report on Thursday, October 22 with “Outperform” rating.

According to Zacks Investment Research, “Ultimate Software is a leader in delivering Web-based payroll and employee management solutions to organizations of all sizes. Ultimate Software’s fully integrated, award-winning UltiPro suite enables businesses to manage human resources and payroll strategically and cost-effectively, benefiting everyone in the organization. Ultimate Software offers application hosting through IBM Global Services and a business-to-business Web portal, providing access to value-added resources via the Internet.”

Insitutional Activity: The institutional sentiment decreased to 0.93 in Q2 2016. Its down 0.21, from 1.14 in 2016Q1. The ratio turned negative, as 21 funds sold all The Ultimate Software Group, Inc. shares owned while 114 reduced positions. 39 funds bought stakes while 86 increased positions. They now own 28.67 million shares or 2.18% less from 29.31 million shares in 2016Q1.
Bluemountain Mngmt Ltd Liability accumulated 207 shares or 0% of the stock. Driehaus Cap Mngmt Limited Liability Corporation last reported 3,336 shares in the company. Nelson Roberts Investment Advisors Ltd Liability Co has 43 shares for 0% of their US portfolio. The United Kingdom-based Blackrock Grp Inc Limited has invested 0% in The Ultimate Software Group, Inc. (NASDAQ:ULTI). Moreover, Zurcher Kantonalbank (Zurich Cantonalbank) has 0% invested in The Ultimate Software Group, Inc. (NASDAQ:ULTI) for 733 shares. Alliancebernstein Lp last reported 755,869 shares in the company. Weiss Multi last reported 10,117 shares in the company. The Texas-based 1St Glob Inc has invested 0.12% in The Ultimate Software Group, Inc. (NASDAQ:ULTI). Huntington National Bank & Trust accumulated 0.01% or 2,059 shares. Balyasny Asset Mgmt Ltd Com accumulated 0.02% or 16,897 shares. Allianz Asset Mngmt Ag has 0.01% invested in the company for 95,984 shares. Columbia Wanger Asset Mngmt Ltd Llc has invested 0.87% of its portfolio in The Ultimate Software Group, Inc. (NASDAQ:ULTI). Denver Invest Advisors Ltd Co last reported 0.21% of its portfolio in the stock. Checchi Cap Advisers Limited Company holds 0% of its portfolio in The Ultimate Software Group, Inc. (NASDAQ:ULTI) for 131 shares. Fred Alger Mngmt Incorporated holds 65,007 shares or 0.07% of its portfolio.

Insider Transactions: Since April 28, 2016, the stock had 0 insider purchases, and 4 insider sales for $1.39 million net activity. FITZPATRICK JAMES A JR had sold 931 shares worth $185,622 on Thursday, April 28. $284,008 worth of The Ultimate Software Group, Inc. (NASDAQ:ULTI) was sold by PUTTEN LEROY VANDER. $733,913 worth of shares were sold by Phenicie John C on Thursday, July 28.

More notable recent The Ultimate Software Group, Inc. (NASDAQ:ULTI) news were published by: Businesswire.com which released: “Ultimate Software Acquires Cloud Workforce Intelligence Provider Kanjoya …” on September 30, 2016, also Fool.com with their article: “Ultimate Software Delivers Another Solid Quarter” published on July 27, 2016, Thestreet.com published: “Ultimate Software Group (ULTI) Weak On High Volume Today” on July 27, 2016. More interesting news about The Ultimate Software Group, Inc. (NASDAQ:ULTI) were released by: Seekingalpha.com and their article: “Ultimate Software: A Company People Love To Hate” published on June 07, 2016 as well as Blogs.Wsj.com‘s news article titled: “Ultimate Software CFO Credits Longevity on Quest to $1 Billion” with publication date: March 16, 2016.

ULTI Company Profile

The Ultimate Software Group, Inc. (Ultimate), incorporated on April 15, 1996, is a cloud well-known 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, and includes global people management, available in over 10 languages with approximately 40 country-specific localizations. The solution is delivered primarily through software-as-a-service (SaaS) to organizations based in the United States and Canada, including those with global workforces.

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