American International Group Inc. lessened its stake in The Ultimate Software Group, Inc. (NASDAQ:ULTI) by 4.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,968 shares of the technology company’s stock after selling 2,841 shares during the period. American International Group Inc. owned about 0.19% of The Ultimate Software Group worth $10,991,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of The Ultimate Software Group by 4.9% during the 2nd quarter. FMR LLC now owns 3,869,769 shares of the technology company’s stock worth $812,884,000 after buying an additional 180,698 shares during the period. BlackRock Inc. raised its stake in shares of The Ultimate Software Group by 1.4% during the 2nd quarter. BlackRock Inc. now owns 2,421,091 shares of the technology company’s stock worth $508,574,000 after buying an additional 32,430 shares during the period. Vanguard Group Inc. raised its stake in shares of The Ultimate Software Group by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 2,300,574 shares of the technology company’s stock worth $483,258,000 after buying an additional 71,422 shares during the period. Janus Henderson Group PLC raised its stake in shares of The Ultimate Software Group by 819.9% during the 2nd quarter. Janus Henderson Group PLC now owns 2,245,044 shares of the technology company’s stock worth $471,594,000 after buying an additional 2,000,984 shares during the period. Finally, Harbour Capital Advisors LLC raised its stake in shares of The Ultimate Software Group by 20,578.4% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,126,972 shares of the technology company’s stock worth $5,365,000 after buying an additional 1,121,522 shares during the period.

In other The Ultimate Software Group news, VP Robert Manne sold 5,000 shares of the firm’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $206.08, for a total value of $1,030,400.00. Following the completion of the sale, the vice president now directly owns 76,484 shares of the company’s stock, valued at approximately $15,761,822.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Scott Scherr sold 43,537 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $196.21, for a total value of $8,542,394.77. Following the completion of the sale, the chairman now directly owns 426,427 shares of the company’s stock, valued at $83,669,241.67. The disclosure for this sale can be found here. Insiders sold a total of 116,259 shares of company stock valued at $22,912,048 over the last ninety days. Corporate insiders own 4.90% of the company’s stock.

Several research analysts have recently weighed in on ULTI shares. Roth Capital upped their target price 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. Mizuho reissued 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. KeyCorp reissued a “buy” rating on shares of The Ultimate Software Group in a research note on Wednesday, August 2nd. Royal Bank Of Canada reduced their price objective on The Ultimate Software Group from $233.00 to $216.00 and set an “outperform” rating for the company in a research note on Wednesday, August 2nd. Finally, Deutsche Bank AG downgraded The Ultimate Software Group from a “buy” rating to a “hold” rating and reduced their price objective for the company from $230.00 to $210.00 in a research note on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $231.58.

Shares of The Ultimate Software Group, Inc. (NASDAQ ULTI) opened at $198.34 on Monday. The Ultimate Software Group, Inc. has a 52 week low of $180.29 and a 52 week high of $233.42. The stock has a market capitalization of $5,925.61, a price-to-earnings ratio of 188.90, a price-to-earnings-growth ratio of 15.38 and a beta of 1.09. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.01.

The Ultimate Software Group (NASDAQ:ULTI) last issued its earnings results on Wednesday, November 1st. The technology company reported $1.05 earnings per share (EPS) 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 business had revenue of $236.11 million during the quarter, compared to the consensus estimate of $232.92 million. During the same period last year, the company earned $0.78 EPS. The company’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 0.63 earnings per share 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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