Daiwa Securities Group Inc. lowered its position in The Ultimate Software Group, Inc. (NASDAQ:ULTI) by 27.6% during the second quarter, Holdings Channel reports. The fund owned 6,608 shares of the technology company’s stock after selling 2,522 shares during the period. Daiwa Securities Group Inc.’s holdings in The Ultimate Software Group were worth $1,388,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ULTI. Creative Planning increased its position in The Ultimate Software Group by 257.4% in the second quarter. Creative Planning now owns 504 shares of the technology company’s stock worth $106,000 after buying an additional 363 shares during the last quarter. Acrospire Investment Management LLC increased its position in The Ultimate Software Group by 50.0% in the first quarter. Acrospire Investment Management LLC now owns 600 shares of the technology company’s stock worth $117,000 after buying an additional 200 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in The Ultimate Software Group by 1,318.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 709 shares of the technology company’s stock worth $138,000 after buying an additional 659 shares during the last quarter. Sphera Funds Management LTD. acquired a new position in The Ultimate Software Group during the first quarter worth approximately $156,000. Finally, Huntington National Bank increased its position in The Ultimate Software Group by 24.7% in the second quarter. Huntington National Bank now owns 857 shares of the technology company’s stock worth $180,000 after buying an additional 170 shares during the last quarter.

The Ultimate Software Group, Inc. (NASDAQ:ULTI) opened at 192.21 on Thursday. The firm has a 50 day moving average of $215.24 and a 200-day moving average of $205.96. The company has a market capitalization of $5.72 billion, a P/E ratio of 198.36 and a beta of 1.08. 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 posted its earnings results on Tuesday, August 1st. The technology company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by $0.03. The company had revenue of $224.70 million during the quarter, compared to the consensus estimate of $228.02 million. The Ultimate Software Group had a return on equity of 7.20% and a net margin of 3.47%. The firm’s revenue was up 20.4% compared to the same quarter last year. During the same period last year, the company posted $0.76 EPS. On average, analysts forecast that The Ultimate Software Group, Inc. will post $3.53 earnings per share for the current year.

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A number of equities analysts have recently commented on the stock. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $250.00 price objective on shares of The Ultimate Software Group in a report on Saturday, July 22nd. Mitsubishi UFJ Financial Group reaffirmed an “overweight” rating on shares of The Ultimate Software Group in a report on Tuesday, April 25th. Credit Suisse Group reaffirmed an “outperform” rating and set a $245.00 price objective (down from $260.00) on shares of The Ultimate Software Group in a report on Wednesday, August 2nd. KeyCorp reaffirmed a “buy” rating on shares of The Ultimate Software Group in a report on Wednesday, August 2nd. Finally, Stephens reaffirmed an “equal weight” rating and set a $203.00 price objective (down from $215.00) on shares of The Ultimate Software Group in a report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $236.78.

In other news, Director James A. Fitzpatrick, Jr. sold 4,613 shares of the stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $200.39, for a total value of $924,399.07. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $3,005,850. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Robert Manne sold 5,000 shares of the 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 disclosure for this sale can be found here. 5.60% of the stock is currently owned by corporate insiders.

About The Ultimate Software Group

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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