Pictet Asset Management Ltd. grew its holdings in shares of The Ultimate Software Group, Inc. (NASDAQ:ULTI) by 13.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 106,797 shares of the technology company’s stock after buying an additional 12,605 shares during the quarter. Pictet Asset Management Ltd. owned 0.36% of The Ultimate Software Group worth $20,249,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Creative Planning grew its stake in 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 buying an additional 363 shares during the period. Huntington National Bank grew its stake in 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 buying an additional 170 shares during the period. Benjamin F. Edwards & Company Inc. grew its stake in 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 buying an additional 164 shares during the period. FineMark National Bank & Trust purchased a new stake in The Ultimate Software Group during the second quarter worth approximately $200,000. Finally, ETRADE Capital Management LLC purchased a new stake in The Ultimate Software Group during the second quarter worth approximately $201,000.

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Several equities research analysts have issued reports on ULTI shares. Zacks Investment Research upgraded shares of The Ultimate Software Group from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Royal Bank Of Canada restated a “buy” rating and issued a $216.00 target price on shares of The Ultimate Software Group in a research note on Tuesday, October 10th. Piper Jaffray Companies restated an “overweight” rating and issued a $250.00 target price on shares of The Ultimate Software Group in a research note on Saturday, July 22nd. BidaskClub upgraded shares of The Ultimate Software Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Finally, ValuEngine upgraded shares of The Ultimate Software Group from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $234.06.

The Ultimate Software Group, Inc. (ULTI) opened at $206.78 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.15 and a debt-to-equity ratio of 0.01. The company has a market cap of $6,167.63, a P/E ratio of 196.93, a price-to-earnings-growth ratio of 19.23 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 the Zacks’ consensus estimate of $0.88 by $0.17. The company had revenue of $236.11 million for the quarter, compared to analysts’ expectations of $232.92 million. The Ultimate Software Group had a net margin of 3.31% and a return on equity of 6.84%. The firm’s revenue was up 19.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.78 earnings per share. sell-side analysts expect that The Ultimate Software Group, Inc. will post 0.55 EPS for the current year.

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.

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

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