The Ultimate Software Group, Inc. (ULTI) Stake Reduced by Ranger Investment Management L.P.

Ranger Investment Management L.P. reduced its position in shares of The Ultimate Software Group, Inc. (NASDAQ:ULTI) by 55.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,695 shares of the technology company’s stock after selling 2,140 shares during the period. Ranger Investment Management L.P.’s holdings in The Ultimate Software Group were worth $331,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. FMR LLC boosted 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 period. BlackRock Inc. boosted 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 period. Vanguard Group Inc. boosted its stake in The Ultimate Software Group by 5.2% in the first quarter. Vanguard Group Inc. now owns 2,229,152 shares of the technology company’s stock worth $435,153,000 after buying an additional 109,592 shares during the period. Wellington Management Group LLP boosted 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 period. Finally, TimesSquare Capital Management LLC boosted its stake in The Ultimate Software Group by 8.0% in the first quarter. TimesSquare Capital Management LLC now owns 868,245 shares of the technology company’s stock worth $169,490,000 after buying an additional 64,040 shares during the period. Hedge funds and other institutional investors own 99.38% of the company’s stock.

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

Shares of The Ultimate Software Group, Inc. (ULTI) traded up 0.20% during trading on Friday, reaching $220.58. 223,348 shares of the company were exchanged. The company has a 50 day moving average price of $214.21 and a 200-day moving average price of $199.70. The stock has a market capitalization of $6.55 billion, a price-to-earnings ratio of 218.40 and a beta of 1.10. The Ultimate Software Group, Inc. has a one year low of $180.29 and a one year high of $225.62.

The Ultimate Software Group (NASDAQ:ULTI) last announced its quarterly earnings results on Tuesday, April 25th. The technology company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.02. The Ultimate Software Group had a return on equity of 6.88% and a net margin of 3.23%. The business had revenue of $228.49 million during the quarter, compared to the consensus estimate of $228.87 million. During the same quarter last year, the firm posted $0.73 EPS. The company’s quarterly revenue was up 22.0% on a year-over-year basis. Equities analysts predict that The Ultimate Software Group, Inc. will post $3.99 EPS for the current year.

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A number of analysts have issued reports on ULTI shares. Mizuho started coverage on shares of The Ultimate Software Group in a research note on Friday, March 3rd. They issued a “neutral” rating and a $200.00 target price for the company. Zacks Investment Research cut shares of The Ultimate Software Group from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. Wells Fargo & Company began coverage on shares of The Ultimate Software Group in a research note on Thursday, May 11th. They issued an “outperform” rating and a $240.00 price objective for the company. ValuEngine upgraded shares of The Ultimate Software Group from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Guggenheim began coverage on shares of The Ultimate Software Group in a research note on Wednesday, April 12th. They issued a “buy” rating and a $230.00 price objective for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have given a buy rating to the company’s stock. The Ultimate Software Group has an average rating of “Buy” and a consensus price target of $238.54.

In other The Ultimate Software Group news, Director James A. Fitzpatrick, Jr. sold 4,630 shares of the firm’s stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $198.95, for a total transaction of $921,138.50. Following the completion of the sale, the director now owns 15,421 shares of the company’s stock, valued at approximately $3,068,007.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Adam Rogers sold 3,482 shares of the firm’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $198.92, for a total value of $692,639.44. Following the sale, the vice president now directly owns 51,477 shares of the company’s stock, valued at approximately $10,239,804.84. The disclosure for this sale can be found here. Company insiders own 5.60% of the company’s stock.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:ULTI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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