Pictet Asset Management Ltd. raised its position in The Ultimate Software Group, Inc. (NASDAQ:ULTI) by 127.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,192 shares of the technology company’s stock after buying an additional 52,691 shares during the period. Pictet Asset Management Ltd.’s holdings in The Ultimate Software Group were worth $20,792,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. increased its stake in The Ultimate Software Group by 13,409.8% in the first quarter. BlackRock Inc. now owns 2,388,661 shares of the technology company’s stock worth $466,292,000 after buying an additional 2,370,980 shares during the last quarter. Harbour Capital Advisors LLC increased its stake in The Ultimate Software Group by 20,578.4% in the second quarter. Harbour Capital Advisors LLC now owns 1,126,972 shares of the technology company’s stock worth $5,365,000 after buying an additional 1,121,522 shares during the last quarter. FMR LLC increased its stake in The Ultimate Software Group by 11.3% in the first quarter. FMR LLC now owns 3,689,071 shares of the technology company’s stock worth $720,143,000 after buying an additional 374,243 shares during the last quarter. Wellington Management Group LLP increased its stake in The Ultimate Software Group by 11.2% in the first quarter. Wellington Management Group LLP now owns 1,454,994 shares of the technology company’s stock worth $284,029,000 after buying an additional 146,312 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in The Ultimate Software Group by 196.7% in the first quarter. UBS Asset Management Americas Inc. now owns 219,266 shares of the technology company’s stock worth $42,803,000 after buying an additional 145,372 shares during the last quarter.

Shares of The Ultimate Software Group, Inc. (NASDAQ:ULTI) opened at 193.13 on Friday. The Ultimate Software Group, Inc. has a 52 week low of $180.29 and a 52 week high of $233.42. The firm has a market capitalization of $5.76 billion, a PE ratio of 199.31 and a beta of 1.08. The stock has a 50 day moving average of $213.66 and a 200-day moving average of $205.82.

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

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ULTI has been the topic of a number of research reports. Zacks Investment Research upgraded shares of The Ultimate Software Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 28th. Credit Suisse Group reiterated a “buy” rating on shares of The Ultimate Software Group in a report on Monday, July 3rd. Mitsubishi UFJ Financial Group reiterated an “overweight” rating on shares of The Ultimate Software Group in a report on Tuesday, April 25th. SunTrust Banks, Inc. started coverage on shares of The Ultimate Software Group in a report on Monday, June 26th. They issued a “buy” rating and a $240.00 target price on the stock. Finally, Piper Jaffray Companies reissued an “overweight” rating and issued a $250.00 target price on shares of The Ultimate Software Group in a research report on Saturday, July 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $236.78.

In related news, VP Robert Manne sold 5,000 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $200.39, for a total value 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 $15,757,266.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James A. Fitzpatrick, Jr. sold 4,613 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $200.39, for a total transaction of $924,399.07. Following the completion of 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. 5.60% of the stock is currently owned by company insiders.

The Ultimate Software Group Company 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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