NEW YORK (

TheStreet

) --

Ultimate Software Group

(Nasdaq:

ULTI

) hit a new 52-week high Friday as it traded at $59.17 compared with its previous 52-Week high of $58.80. Ultimate Software Group is changing hands at $59.16 with 32,407 shares traded as of 11:07 a.m. ET. Average volume has been 203,400 shares over the past 30 days.

Ultimate Software Group has a market cap of $1.4 billion and is part of the

technology

sector and

internet

industry. Shares are up 15.7% year to date as of the close of trading on Thursday.

The Ultimate Software Group, Inc. designs, markets, implements, and supports unified human capital management (HCM) software-as-service (SaaS) solutions to businesses, providing a single source for comprehensive human resources, payroll, and talent management technology. The company has a P/E ratio of 508, below the average internet industry P/E ratio of 698.5 and above the S&P 500 P/E ratio of 16.

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TheStreet Ratings rates Ultimate Software Group as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, compelling growth in net income, good cash flow from operations, expanding profit margins and solid stock price performance. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full

Ultimate Software Group Ratings Report

.

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