Stifel Downgrades Ultimate Software (ULTI) to Hold, Removed from Stifel Select List

Stifel analyst Brad Reback downgraded Ultimate Software (NASDAQ: ULTI) from Buy to Hold with a price target of $331.50 (from $340.00).

The analyst comments "With Ultimate Software's go-shop period expiring on 3/25/2019 at 11:59PM New York City time, we think the likelihood of another bidder coming in over the top at this point is quite low. As a result, we lower our rating to Hold from Buy, lower our target price to $331.50 (acquisition price) from $340, and remove Ultimate Software from the Stifel Select List."

For an analyst ratings summary and ratings history on Ultimate Software click here. For more ratings news on Ultimate Software click here.

Shares of Ultimate Software closed at $329.76 yesterday.

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