State Board of Administration of Florida Retirement System raised its position in shares of The Ultimate Software Group, Inc. (NASDAQ:ULTI) by 1.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,296 shares of the technology company’s stock after buying an additional 716 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.14% of The Ultimate Software Group worth $8,465,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. William Blair Investment Management LLC boosted its position in The Ultimate Software Group by 30.4% in the second quarter. William Blair Investment Management LLC now owns 99,926 shares of the technology company’s stock valued at $20,990,000 after buying an additional 23,287 shares during the period. Turner Investments LLC boosted its position in The Ultimate Software Group by 33.3% in the second quarter. Turner Investments LLC now owns 1,000 shares of the technology company’s stock valued at $210,000 after buying an additional 250 shares during the period. Blair William & Co. IL boosted its position in The Ultimate Software Group by 4.5% in the second quarter. Blair William & Co. IL now owns 490,948 shares of the technology company’s stock valued at $103,128,000 after buying an additional 21,328 shares during the period. Chartwell Investment Partners LLC boosted its position in The Ultimate Software Group by 0.4% in the second quarter. Chartwell Investment Partners LLC now owns 17,512 shares of the technology company’s stock valued at $3,679,000 after buying an additional 77 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in The Ultimate Software Group by 71.4% in the second quarter. BNP Paribas Arbitrage SA now owns 11,207 shares of the technology company’s stock valued at $2,354,000 after buying an additional 4,668 shares during the period.

Shares of The Ultimate Software Group, Inc. (NASDAQ ULTI) opened at 199.81 on Friday. The Ultimate Software Group, Inc. has a 1-year low of $180.29 and a 1-year high of $233.42. The company’s 50-day moving average is $206.11 and its 200 day moving average is $205.95. The firm has a market capitalization of $5.96 billion, a price-to-earnings ratio of 206.20 and a beta of 1.09.

The Ultimate Software Group (NASDAQ:ULTI) last issued its earnings results on Tuesday, August 1st. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by $0.03. The business had revenue of $224.70 million during the quarter, compared to the consensus estimate of $228.02 million. The Ultimate Software Group had a net margin of 3.47% and a return on equity of 7.20%. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period last year, the business posted $0.76 EPS. On average, analysts expect that The Ultimate Software Group, Inc. will post $3.53 EPS for the current fiscal year.

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ULTI has been the subject of several recent analyst reports. Wells Fargo & Company initiated coverage on shares of The Ultimate Software Group in a research report on Thursday, May 11th. They issued an “outperform” rating and a $240.00 target price for the company. Canaccord Genuity restated a “buy” rating and issued a $240.00 target price on shares of The Ultimate Software Group in a research report on Thursday, May 25th. Royal Bank Of Canada restated a “buy” rating and issued a $233.00 target price on shares of The Ultimate Software Group in a research report on Monday, May 29th. ValuEngine upgraded shares of The Ultimate Software Group from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, BidaskClub cut shares of The Ultimate Software Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The Ultimate Software Group has a consensus rating of “Buy” and a consensus target price of $235.67.

In other news, Director James A. Fitzpatrick, Jr. sold 4,613 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were 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 of the company’s stock, valued at approximately $3,005,850. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert Manne sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $200.39, for a total transaction of $1,001,950.00. Following the completion of the transaction, the vice president now directly owns 78,633 shares in the company, valued at approximately $15,757,266.87. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by company insiders.

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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