Courtesy of Benzinga.
In a report published Wednesday, Wedbush Securities analyst Steve Koenig reiterated a Neutral rating on The Ultimate Software Group (NASDAQ: ULTI), and raised the price target from $139.00 to $162.00.
In the report, Wedbush Securities noted, “We view 4Q employment trends in the U.S. as an incremental positive for ULTI. ULTI revenue variability relative to near-term guidance is small, due to the company’s ratable revenue multiple, but ULTI shares often react to small variations. In our experience, customer hiring in the quarter is often the most important factor in driving upside or downside in ULTI’s results. Our analysis shows a meaningful correlation (+60%) between Q/Q U.S. non-farm employment levels and ULTI’s revenue variance relative to guidance.”
The Ultimate Software Group closed on Tuesday at $148.82.
Latest Ratings for ULTI
Date | Firm | Action | From | To |
---|---|---|---|---|
Oct 2014 | Canaccord Genuity | Maintains | Buy | |
Oct 2014 | MKM Partners | Initiates Coverage on | Buy | |
May 2014 | FBR Capital | Initiates Coverage on | Market Perform |
View More Analyst Ratings for ULTI
View the Latest Analyst Ratings
Posted-In: Steve Koenig Wedbush SecuritiesAnalyst Color Price Target Analyst Ratings