Quantitative Investment Management LLC bought a new position in The Ultimate Software Group, Inc. (NASDAQ:ULTI) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 24,300 shares of the technology company’s stock, valued at approximately $5,104,000. Quantitative Investment Management LLC owned about 0.08% of The Ultimate Software Group as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Creative Planning grew its holdings in shares of The Ultimate Software Group by 257.4% in the 2nd quarter. Creative Planning now owns 504 shares of the technology company’s stock worth $106,000 after purchasing an additional 363 shares during the last quarter. Huntington National Bank grew its holdings in shares of The Ultimate Software Group by 24.7% in the 2nd quarter. Huntington National Bank now owns 857 shares of the technology company’s stock worth $180,000 after purchasing an additional 170 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in shares of 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 worth $183,000 after purchasing an additional 164 shares during the last quarter. FineMark National Bank & Trust bought a new stake in shares of The Ultimate Software Group in the 2nd quarter worth about $200,000. Finally, Turner Investments LLC grew its holdings in shares of The Ultimate Software Group by 33.3% in the 2nd quarter. Turner Investments LLC now owns 1,000 shares of the technology company’s stock worth $210,000 after purchasing an additional 250 shares during the last quarter.

The Ultimate Software Group, Inc. (ULTI) opened at 185.16 on Monday. The firm has a market capitalization of $5.52 billion, a P/E ratio of 191.08 and a beta of 1.09. The firm’s 50-day moving average is $195.31 and its 200-day moving average is $205.65. 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 released 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 firm had revenue of $224.70 million for 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 business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.76 earnings per share. On average, equities analysts expect that The Ultimate Software Group, Inc. will post $3.53 earnings per share for the current year.

In other news, Director James A. Fitzpatrick, Jr. sold 4,613 shares of the business’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 $924,399.07. Following the sale, the director now directly owns 15,000 shares in the company, valued at $3,005,850. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Robert Manne sold 5,000 shares of the business’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 $1,001,950.00. Following the sale, the vice president now owns 78,633 shares in the company, valued at $15,757,266.87. The disclosure for this sale can be found here. Insiders own 4.90% of the company’s stock.

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ULTI has been the topic of several analyst reports. Canaccord Genuity lowered their target price on shares of The Ultimate Software Group from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Wednesday, August 2nd. Deutsche Bank AG lowered 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 report on Wednesday, August 2nd. Roth Capital upped 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 report on Monday, July 31st. BidaskClub lowered shares of The Ultimate Software Group from a “strong-buy” rating to a “buy” rating in a report on Friday, June 30th. Finally, 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 on the stock in a report on Wednesday, August 2nd. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $235.67.

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.

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

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