The Ultimate Software Group, Inc. (ULTI) Shares Bought by Ithaka Group LLC

Ithaka Group LLC raised its holdings in The Ultimate Software Group, Inc. (NASDAQ:ULTI) by 1.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 47,779 shares of the technology company’s stock after acquiring an additional 462 shares during the quarter. The Ultimate Software Group makes up 1.8% of Ithaka Group LLC’s holdings, making the stock its 23rd largest holding. Ithaka Group LLC owned about 0.16% of The Ultimate Software Group worth $10,036,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ULTI. Creative Planning grew its position in The Ultimate Software Group by 257.4% in the 2nd quarter. Creative Planning now owns 504 shares of the technology company’s stock valued at $106,000 after acquiring an additional 363 shares during the last quarter. Sphera Funds Management LTD. bought a new position in The Ultimate Software Group in the 1st quarter valued at $156,000. Huntington National Bank grew its position in The Ultimate Software Group by 24.7% in the 2nd quarter. Huntington National Bank now owns 857 shares of the technology company’s stock valued at $180,000 after acquiring an additional 170 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in The Ultimate Software Group by 23.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 873 shares of the technology company’s stock valued at $183,000 after acquiring an additional 164 shares during the last quarter. Finally, FineMark National Bank & Trust bought a new position in The Ultimate Software Group in the 2nd quarter valued at $200,000.

Shares of The Ultimate Software Group, Inc. (NASDAQ ULTI) traded down 0.63% during midday trading on Tuesday, hitting $185.90. The company had a trading volume of 127,908 shares. The Ultimate Software Group, Inc. has a 12 month low of $180.29 and a 12 month high of $233.42. The company has a 50-day moving average of $196.45 and a 200 day moving average of $205.71. The firm has a market capitalization of $5.54 billion, a PE ratio of 191.85 and a beta of 1.09.

The Ultimate Software Group (NASDAQ:ULTI) last released its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.03). The business had revenue of $224.70 million for the quarter, compared to analyst estimates of $228.02 million. The Ultimate Software Group had a return on equity of 7.20% and a net margin of 3.47%. The company’s revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.76 earnings per share. On average, analysts expect that The Ultimate Software Group, Inc. will post $3.53 EPS for the current fiscal year.

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Several brokerages have commented on ULTI. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $250.00 price objective on shares of The Ultimate Software Group in a research report on Saturday, July 22nd. Credit Suisse Group reaffirmed an “outperform” rating and issued a $245.00 price objective (down previously from $260.00) on shares of The Ultimate Software Group in a research report on Wednesday, August 2nd. KeyCorp reaffirmed a “buy” rating on shares of The Ultimate Software Group in a research report on Wednesday, August 2nd. Stephens reaffirmed an “equal weight” rating and issued a $203.00 price objective (down previously from $215.00) on shares of The Ultimate Software Group in a research report on Wednesday, August 2nd. Finally, Zacks Investment Research raised The Ultimate Software Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The Ultimate Software Group presently has a consensus rating of “Buy” and an average price target of $235.67.

In other news, VP Robert Manne sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $200.39, for a total transaction of $1,001,950.00. Following the completion of the transaction, the vice president now directly owns 78,633 shares of the company’s stock, valued at approximately $15,757,266.87. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James A. Fitzpatrick, Jr. sold 4,613 shares of the company’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $200.39, for a total value of $924,399.07. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $3,005,850. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.

The Ultimate Software Group Profile

The Ultimate Software Group, Inc (Ultimate) is a cloud 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. As of December 31, 2016, UltiPro included global people management, available in 14 languages with more than 35 country-specific localizations.

Institutional Ownership by Quarter for The Ultimate Software Group (NASDAQ:ULTI)

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