Russell Investments Group Ltd. reduced its position in The Ultimate Software Group, Inc. (NASDAQ:ULTI) by 26.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,196 shares of the technology company’s stock after selling 15,223 shares during the period. Russell Investments Group Ltd. owned about 0.13% of The Ultimate Software Group worth $10,276,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Schroder Investment Management Group increased its position in The Ultimate Software Group by 15.2% in the 1st quarter. Schroder Investment Management Group now owns 4,766 shares of the technology company’s stock worth $1,161,000 after purchasing an additional 630 shares during the last quarter. Great West Life Assurance Co. Can increased its position in The Ultimate Software Group by 2.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 16,869 shares of the technology company’s stock worth $4,111,000 after purchasing an additional 350 shares during the last quarter. New York State Common Retirement Fund increased its position in The Ultimate Software Group by 11.1% in the 1st quarter. New York State Common Retirement Fund now owns 96,135 shares of the technology company’s stock worth $23,428,000 after purchasing an additional 9,568 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its position in The Ultimate Software Group by 5.3% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 9,020 shares of the technology company’s stock worth $2,198,000 after purchasing an additional 450 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in The Ultimate Software Group by 23.5% in the 1st quarter. JPMorgan Chase & Co. now owns 62,871 shares of the technology company’s stock worth $15,322,000 after purchasing an additional 11,983 shares during the last quarter.
Get The Ultimate Software Group alerts:In related news, VP Robert Manne sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 3rd. The stock was sold at an average price of $247.12, for a total transaction of $1,235,600.00. Following the completion of the sale, the vice president now owns 68,692 shares in the company, valued at approximately $16,975,167.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Felicia Alvaro sold 2,000 shares of the stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $250.84, for a total value of $501,680.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,375 shares of company stock valued at $2,819,786. 3.00% of the stock is owned by corporate insiders.
ULTI has been the topic of several research reports. ValuEngine raised The Ultimate Software Group from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. BidaskClub lowered The Ultimate Software Group from a “buy” rating to a “hold” rating in a research report on Friday, April 27th. SunTrust Banks upped their target price on The Ultimate Software Group from $250.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, May 2nd. TheStreet raised The Ultimate Software Group from a “c+” rating to a “b-” rating in a research report on Tuesday, May 1st. Finally, Wedbush upped their target price on The Ultimate Software Group from $255.00 to $260.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $253.29.
ULTI opened at $277.96 on Tuesday. The stock has a market cap of $8.57 billion, a PE ratio of 343.16, a P/E/G ratio of 5.72 and a beta of 0.97. The Ultimate Software Group, Inc. has a 52-week low of $181.59 and a 52-week high of $281.18. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.01.
The Ultimate Software Group (NASDAQ:ULTI) last announced its earnings results on Tuesday, May 1st. The technology company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.17. The Ultimate Software Group had a return on equity of 6.24% and a net margin of 2.90%. The firm had revenue of $277.00 million during the quarter, compared to the consensus estimate of $270.80 million. During the same quarter in the prior year, the company earned $0.75 EPS. The firm’s revenue for the quarter was up 21.2% compared to the same quarter last year. equities research analysts forecast that The Ultimate Software Group, Inc. will post 2.25 earnings per share for the current year.
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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