Ultimate Software (NASDAQ:ULTI) is one of today's biggest movers, down 2.4% to $72.48. The S&P is trading lower by 0.8% to 1,401 and the Dow is trading 0.6% lower to 13,114.
Over the past year, Ultimate Software has traded in a range of $43.28 to $75.00 and is now at $72.48, 67% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.6%.
Based on a current price of $72.48, Ultimate Software is currently 5.5% above its average consensus analyst price target of $68.50. The stock should find initial support at its 50-day moving average (MA) of $69.83 and further support at its 200-day MA of $59.73.
The Ultimate Software Group, Inc. designs, markets, implements, and supports Web-based and client/server cross-industry human resource management (HRMS) and payroll software solutions. The Company's solutions are marketed primarily to middle-market organizations. Ultimate's products automate HRMS/payroll functions and are enabling tools in the management of the employee life cycle.
