Nicholas Investment Partners LP Takes Position in The Ultimate Software Group, Inc. (ULTI)

Nicholas Investment Partners LP bought a new position in The Ultimate Software Group, Inc. (NASDAQ:ULTI) in the second quarter, according to its most recent filing with the SEC. The firm bought 18,356 shares of the technology company’s stock, valued at approximately $3,856,000. Nicholas Investment Partners LP owned approximately 0.06% of The Ultimate Software Group as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ULTI. Great West Life Assurance Co. Can boosted its stake in The Ultimate Software Group by 6.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 17,244 shares of the technology company’s stock worth $3,365,000 after purchasing an additional 1,028 shares in the last quarter. American Century Companies Inc. boosted its stake in The Ultimate Software Group by 19.2% in the 1st quarter. American Century Companies Inc. now owns 4,583 shares of the technology company’s stock worth $895,000 after purchasing an additional 737 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in The Ultimate Software Group by 5.0% in the 1st quarter. Bank of New York Mellon Corp now owns 350,721 shares of the technology company’s stock worth $68,464,000 after purchasing an additional 16,567 shares in the last quarter. Suntrust Banks Inc. boosted its stake in The Ultimate Software Group by 1.5% in the 1st quarter. Suntrust Banks Inc. now owns 2,627 shares of the technology company’s stock worth $512,000 after purchasing an additional 40 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in The Ultimate Software Group by 24.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,090 shares of the technology company’s stock worth $213,000 after purchasing an additional 215 shares in the last quarter.

A number of analysts recently commented on the stock. KeyCorp set a $255.00 target price on shares of The Ultimate Software Group and gave the stock a “buy” rating in a research note on Thursday, July 27th. Roth Capital lifted their target price on shares of The Ultimate Software Group from $254.00 to $280.00 and gave the stock a “buy” rating in a research note on Monday, July 31st. Mizuho reiterated a “neutral” rating and issued a $200.00 target price (down from $220.00) on shares of The Ultimate Software Group in a research note on Tuesday, August 1st. Royal Bank Of Canada lowered their target price on shares of The Ultimate Software Group from $233.00 to $216.00 and set an “outperform” rating for the company in a research note on Wednesday, August 2nd. Finally, Deutsche Bank AG cut shares of The Ultimate Software Group from a “buy” rating to a “hold” rating and lowered their target price for the stock from $230.00 to $210.00 in a research note on Wednesday, August 2nd. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The Ultimate Software Group currently has an average rating of “Buy” and a consensus target price of $235.67.

In related news, VP Robert Manne sold 5,000 shares of the stock in a transaction on 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 sale, the vice president now directly owns 78,633 shares of the company’s stock, valued at $15,757,266.87. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James A. Fitzpatrick, Jr. sold 4,613 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $200.39, for a total value of $924,399.07. Following the sale, 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. 4.90% of the stock is owned by company insiders.

The Ultimate Software Group, Inc. (NASDAQ ULTI) traded down 0.25% during trading on Wednesday, hitting $185.18. 26,485 shares of the company traded hands. The company’s 50-day moving average is $195.31 and its 200 day moving average is $205.65. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of 191.10 and a beta of 1.09. The Ultimate Software Group, Inc. has a 52-week low of $180.29 and a 52-week high of $233.42.

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

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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.

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

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