Sumitomo Mitsui Asset Management Company LTD Sells 19,400 Shares of The Ultimate Software Group, Inc. (ULTI)

Sumitomo Mitsui Asset Management Company LTD lessened its holdings in shares of The Ultimate Software Group, Inc. (NASDAQ:ULTI) by 16.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 96,636 shares of the technology company’s stock after selling 19,400 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD owned approximately 0.32% of The Ultimate Software Group worth $18,322,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. FMR LLC raised its position in The Ultimate Software Group by 4.9% during the second quarter. FMR LLC now owns 3,869,769 shares of the technology company’s stock valued at $812,884,000 after acquiring an additional 180,698 shares in the last quarter. BlackRock Inc. raised its position in shares of The Ultimate Software Group by 1.4% in the second quarter. BlackRock Inc. now owns 2,421,091 shares of the technology company’s stock valued at $508,574,000 after purchasing an additional 32,430 shares during the period. Vanguard Group Inc. raised its position in shares of The Ultimate Software Group by 3.2% in the second quarter. Vanguard Group Inc. now owns 2,300,574 shares of the technology company’s stock valued at $483,258,000 after purchasing an additional 71,422 shares during the period. Janus Henderson Group PLC raised its position in shares of The Ultimate Software Group by 819.9% in the second quarter. Janus Henderson Group PLC now owns 2,245,044 shares of the technology company’s stock valued at $471,594,000 after purchasing an additional 2,000,984 shares during the period. Finally, Harbour Capital Advisors LLC raised its position in shares of 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 valued at $5,365,000 after purchasing an additional 1,121,522 shares during the period.

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ULTI has been the topic of a number of recent analyst reports. Credit Suisse Group reissued a “buy” rating on shares of The Ultimate Software Group in a research report on Monday, July 3rd. Piper Jaffray Companies reissued an “overweight” rating and issued a $250.00 price target on shares of The Ultimate Software Group in a research report on Saturday, July 22nd. ValuEngine raised shares of The Ultimate Software Group from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. KeyCorp set a $255.00 price target on shares of The Ultimate Software Group and gave the company a “buy” rating in a research report on Thursday, July 27th. Finally, Zacks Investment Research lowered shares of The Ultimate Software Group from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The Ultimate Software Group currently has a consensus rating of “Buy” and an average price target of $234.94.

In other The Ultimate Software Group news, VP Robert Manne sold 5,000 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $200.39, for a total transaction of $1,001,950.00. Following the transaction, the vice president now owns 78,633 shares in the company, valued at approximately $15,757,266.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James A. Fitzpatrick, Jr. sold 4,613 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $200.39, for a total value of $924,399.07. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $3,005,850. The disclosure for this sale can be found here. 4.90% of the stock is owned by company insiders.

The Ultimate Software Group, Inc. (ULTI) traded up 1.85% during midday trading on Tuesday, reaching $200.08. 119,683 shares of the company’s stock were exchanged. The company has a market cap of $5.97 billion, a P/E ratio of 206.48 and a beta of 1.07. The Ultimate Software Group, Inc. has a 12 month low of $180.29 and a 12 month high of $233.42. The company has a 50 day moving average price of $191.08 and a 200 day moving average price of $204.86.

The Ultimate Software Group (NASDAQ:ULTI) last posted its quarterly earnings data 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 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 firm’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.76 EPS. On average, equities analysts anticipate that The Ultimate Software Group, Inc. will post $3.54 EPS for the current year.

About The Ultimate Software Group

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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