The Ultimate Software Group, Inc. (ULTI) Stake Increased by Stifel Financial Corp

Stifel Financial Corp lifted its position in The Ultimate Software Group, Inc. (NASDAQ:ULTI) by 53.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,183 shares of the technology company’s stock after acquiring an additional 5,315 shares during the quarter. Stifel Financial Corp owned approximately 0.05% of The Ultimate Software Group worth $2,897,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Balyasny Asset Management LLC grew its stake in shares of The Ultimate Software Group by 0.6% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,668 shares of the technology company’s stock worth $350,000 after acquiring an additional 10 shares in the last quarter. M&T Bank Corp grew its stake in shares of The Ultimate Software Group by 1.0% in the 2nd quarter. M&T Bank Corp now owns 5,641 shares of the technology company’s stock worth $1,184,000 after acquiring an additional 56 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of The Ultimate Software Group by 5.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,147 shares of the technology company’s stock worth $241,000 after acquiring an additional 57 shares in the last quarter. D.A. Davidson & CO. grew its stake in shares of The Ultimate Software Group by 4.3% in the 2nd quarter. D.A. Davidson & CO. now owns 1,952 shares of the technology company’s stock worth $410,000 after acquiring an additional 81 shares in the last quarter. Finally, State of Wisconsin Investment Board grew its stake in shares of The Ultimate Software Group by 2.9% in the 2nd quarter. State of Wisconsin Investment Board now owns 5,679 shares of the technology company’s stock worth $1,193,000 after acquiring an additional 160 shares in the last quarter.

ULTI has been the subject of several recent analyst reports. Royal Bank of Canada reiterated a “buy” rating and issued a $210.00 target price on shares of The Ultimate Software Group in a research note on Friday, October 20th. ValuEngine upgraded shares of The Ultimate Software Group from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded shares of The Ultimate Software Group from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. Bank of America initiated coverage on shares of The Ultimate Software Group in a research note on Monday, November 6th. They issued an “underperform” rating and a $187.00 target price for the company. Finally, Canaccord Genuity upped their target price on shares of The Ultimate Software Group from $225.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $231.58.

In other The Ultimate Software Group news, CFO Mitchell K. Dauerman sold 15,480 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $196.00, for a total transaction of $3,034,080.00. Following the sale, the chief financial officer now directly owns 122,045 shares of the company’s stock, valued at $23,920,820. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Scott Scherr sold 43,537 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $196.21, for a total transaction of $8,542,394.77. Following the sale, the chairman now directly owns 426,427 shares in the company, valued at $83,669,241.67. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 116,259 shares of company stock worth $22,912,048. Insiders own 4.90% of the company’s stock.

Shares of The Ultimate Software Group, Inc. (ULTI) opened at $220.70 on Wednesday. The company has a market cap of $6,580.00, a PE ratio of 207.89, a price-to-earnings-growth ratio of 16.92 and a beta of 1.08. The Ultimate Software Group, Inc. has a fifty-two week low of $180.29 and a fifty-two week high of $233.42. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.01.

The Ultimate Software Group (NASDAQ:ULTI) last released its quarterly earnings data on Wednesday, November 1st. The technology company reported $1.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.17. The business had revenue of $236.11 million for the quarter, compared to the consensus estimate of $232.92 million. The Ultimate Software Group had a net margin of 3.31% and a return on equity of 6.84%. The company’s revenue was up 19.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.78 earnings per share. equities research analysts anticipate that The Ultimate Software Group, Inc. will post 0.63 EPS 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.

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

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