State of Alaska Department of Revenue boosted its holdings in shares of The Ultimate Software Group, Inc. (NASDAQ:ULTI) by 7.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,722 shares of the technology company’s stock after purchasing an additional 252 shares during the period. State of Alaska Department of Revenue’s holdings in The Ultimate Software Group were worth $1,199,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ULTI. Renaissance Technologies LLC raised its holdings in shares of The Ultimate Software Group by 144.3% during the second quarter. Renaissance Technologies LLC now owns 92,614 shares of the technology company’s stock valued at $23,831,000 after acquiring an additional 54,700 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of The Ultimate Software Group by 1.9% during the second quarter. Bank of New York Mellon Corp now owns 343,204 shares of the technology company’s stock valued at $88,309,000 after acquiring an additional 6,540 shares during the period. Strs Ohio acquired a new stake in shares of The Ultimate Software Group during the second quarter valued at approximately $405,000. Summit Trail Advisors LLC raised its holdings in shares of The Ultimate Software Group by 23,735.4% during the first quarter. Summit Trail Advisors LLC now owns 115,840 shares of the technology company’s stock valued at $116,000 after acquiring an additional 115,354 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in shares of The Ultimate Software Group during the second quarter valued at approximately $655,000.

The Ultimate Software Group stock opened at $294.01 on Friday. The company has a market capitalization of $9.50 billion, a price-to-earnings ratio of 362.98, a P/E/G ratio of 5.85 and a beta of 1.02. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.01. The Ultimate Software Group, Inc. has a twelve month low of $190.01 and a twelve month high of $332.43.

The Ultimate Software Group (NASDAQ:ULTI) last announced its quarterly earnings results on Tuesday, July 31st. The technology company reported $1.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.04. The Ultimate Software Group had a net margin of 3.60% and a return on equity of 7.74%. The company had revenue of $271.16 million for the quarter, compared to analyst estimates of $268.84 million. Equities research analysts forecast that The Ultimate Software Group, Inc. will post 2.24 earnings per share for the current year.

A number of equities research analysts have recently issued reports on the stock. BidaskClub upgraded shares of The Ultimate Software Group from a “hold” rating to a “buy” rating in a report on Monday, October 15th. Jefferies Financial Group assumed coverage on shares of The Ultimate Software Group in a report on Monday, October 1st. They set a “buy” rating and a $370.00 price target on the stock. Bank of America boosted their price target on shares of The Ultimate Software Group from $258.00 to $266.00 and gave the company an “underperform” rating in a report on Wednesday, September 26th. Needham & Company LLC boosted their price target on shares of The Ultimate Software Group to $370.00 and gave the company a “buy” rating in a report on Monday, September 17th. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $360.00 price target on shares of The Ultimate Software Group in a report on Monday, August 27th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $298.29.

In other news, VP John C. Phenicie sold 5,000 shares of the stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $279.07, for a total transaction of $1,395,350.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James A. Fitzpatrick, Jr. sold 505 shares of the stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $276.70, for a total transaction of $139,733.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,505 shares of company stock worth $4,329,184. 3.00% of the stock is currently owned by company insiders.

The Ultimate Software Group Profile

The Ultimate Software Group, Inc provides cloud-based human capital management solutions primarily to enterprise companies in the United States and Canada. The company's UltiPro software solution delivers the functionality businesses to manage the employee life cycle from recruitment to retirement.

Further Reading: Exchange-Traded Funds (ETFs)

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

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