Riverbridge Partners LLC Trims Stake in The Ultimate Software Group, Inc. (ULTI)

Riverbridge Partners LLC reduced its position in shares of The Ultimate Software Group, Inc. (NASDAQ:ULTI) by 4.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 698,099 shares of the technology company’s stock after selling 29,050 shares during the period. The Ultimate Software Group comprises 2.6% of Riverbridge Partners LLC’s investment portfolio, making the stock its 7th largest holding. Riverbridge Partners LLC owned approximately 2.34% of The Ultimate Software Group worth $132,359,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ULTI. Creative Planning grew its holdings in shares of The Ultimate Software Group by 257.4% during the second 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% during the second 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% during the second 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 during the second quarter worth about $200,000. Finally, ETRADE Capital Management LLC bought a new stake in shares of The Ultimate Software Group during the second quarter worth about $201,000.

Several analysts have recently weighed in on ULTI shares. Piper Jaffray Companies restated an “overweight” rating and set a $250.00 price target on shares of The Ultimate Software Group in a report on Saturday, July 22nd. KeyCorp set a $255.00 price objective on The Ultimate Software Group and gave the stock a “buy” rating in a research note on Thursday, July 27th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $235.00 price objective on shares of The Ultimate Software Group in a research note on Friday, July 28th. Roth Capital lifted their price objective on The Ultimate Software Group from $254.00 to $280.00 and gave the stock a “buy” rating in a research note on Monday, July 31st. Finally, Mizuho reaffirmed a “neutral” rating and issued a $200.00 price objective (down from $220.00) on shares of The Ultimate Software Group in a research note on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $231.58.

Shares of The Ultimate Software Group, Inc. (NASDAQ ULTI) traded down $2.46 during trading hours on Monday, hitting $204.32. The stock had a trading volume of 87,076 shares, compared to its average volume of 307,726. The company has a quick ratio of 1.15, a current ratio of 1.18 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $6,167.71, a price-to-earnings ratio of 196.93, a price-to-earnings-growth ratio of 18.68 and a beta of 1.09.

The Ultimate Software Group (NASDAQ:ULTI) last issued its earnings results on Wednesday, November 1st. The technology company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.17. The Ultimate Software Group had a return on equity of 6.84% and a net margin of 3.31%. The company had revenue of $236.11 million for the quarter, compared to analyst estimates of $232.92 million. During the same period in the prior year, the firm earned $0.78 earnings per share. The Ultimate Software Group’s revenue for the quarter was up 19.9% on a year-over-year basis. sell-side analysts anticipate that The Ultimate Software Group, Inc. will post 0.55 EPS for the current fiscal year.

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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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