Candriam Luxembourg S.C.A. cut its holdings in The Ultimate Software Group, Inc. (NASDAQ:ULTI) by 8.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,964 shares of the technology company’s stock after selling 1,181 shares during the period. Candriam Luxembourg S.C.A.’s holdings in The Ultimate Software Group were worth $4,177,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ULTI. Principal Financial Group Inc. raised its position in The Ultimate Software Group by 6.9% in the first quarter. Principal Financial Group Inc. now owns 126,783 shares of the technology company’s stock worth $30,897,000 after acquiring an additional 8,194 shares during the period. State of Alaska Department of Revenue raised its position in shares of The Ultimate Software Group by 32.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,470 shares of the technology company’s stock valued at $892,000 after purchasing an additional 850 shares during the period. Xact Kapitalforvaltning AB raised its position in shares of The Ultimate Software Group by 13.3% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 4,258 shares of the technology company’s stock valued at $1,096,000 after purchasing an additional 500 shares during the period. Atria Investments LLC bought a new stake in shares of The Ultimate Software Group during the 2nd quarter valued at $298,000. Finally, Bank of Montreal Can raised its position in shares of The Ultimate Software Group by 43.9% during the 2nd quarter. Bank of Montreal Can now owns 23,504 shares of the technology company’s stock valued at $6,048,000 after purchasing an additional 7,175 shares during the period. Institutional investors and hedge funds own 98.63% of the company’s stock.

In related news, Director James A. Fitzpatrick, Jr. sold 494 shares of the firm’s stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $267.20, for a total transaction of $131,996.80. Following the completion of the transaction, the director now directly owns 9,969 shares of the company’s stock, valued at $2,663,716.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Gregory Swick sold 4,252 shares of the firm’s stock in a transaction on Tuesday, November 6th. The shares were sold at an average price of $257.00, for a total transaction of $1,092,764.00. Following the transaction, the vice president now directly owns 25,460 shares of the company’s stock, valued at $6,543,220. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.

Several analysts have recently commented on ULTI shares. JMP Securities raised their price objective on shares of The Ultimate Software Group from $280.00 to $317.00 and gave the company a “$293.94” rating in a research report on Monday, July 23rd. Roth Capital raised their price objective on shares of The Ultimate Software Group from $280.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, August 1st. SunTrust Banks raised their price objective on shares of The Ultimate Software Group to $310.00 and gave the company a “buy” rating in a research report on Wednesday, August 1st. Stifel Nicolaus raised their price objective on shares of The Ultimate Software Group from $275.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, August 1st. Finally, BidaskClub downgraded shares of The Ultimate Software Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 31st. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $296.38.

ULTI opened at $236.70 on Tuesday. The firm has a market cap of $7.80 billion, a P/E ratio of 292.22, a P/E/G ratio of 5.56 and a beta of 1.19. The Ultimate Software Group, Inc. has a fifty-two week low of $194.80 and a fifty-two week high of $332.43. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.04 and a quick ratio of 1.04.

The Ultimate Software Group (NASDAQ:ULTI) last posted its earnings results on Tuesday, October 30th. The technology company reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.01. The company had revenue of $287.83 million during the quarter, compared to analysts’ expectations of $287.22 million. The Ultimate Software Group had a net margin of 4.57% and a return on equity of 8.17%. The Ultimate Software Group’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period last year, the company posted $1.05 earnings per share. As a group, research analysts predict that The Ultimate Software Group, Inc. will post 2.11 EPS for the current year.

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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.

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

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