Foundry Partners LLC reduced its position in shares of The Ultimate Software Group, Inc. (NASDAQ:ULTI) by 3.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,134 shares of the technology company’s stock after selling 593 shares during the period. Foundry Partners LLC’s holdings in The Ultimate Software Group were worth $3,809,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of ULTI. Teachers Advisors LLC boosted its position in shares of The Ultimate Software Group by 3.0% in the fourth quarter. Teachers Advisors LLC now owns 64,816 shares of the technology company’s stock worth $11,819,000 after buying an additional 1,881 shares during the period. Raymond James Trust N.A. bought a new position in shares of The Ultimate Software Group during the first quarter worth about $216,000. Capstone Asset Management Co. boosted its position in shares of The Ultimate Software Group by 7.5% in the first quarter. Capstone Asset Management Co. now owns 3,289 shares of the technology company’s stock worth $642,000 after buying an additional 230 shares during the period. Louisiana State Employees Retirement System boosted its position in shares of The Ultimate Software Group by 4.2% in the first quarter. Louisiana State Employees Retirement System now owns 7,500 shares of the technology company’s stock worth $1,464,000 after buying an additional 300 shares during the period. Finally, Conestoga Capital Advisors LLC boosted its position in shares of The Ultimate Software Group by 154.4% in the first quarter. Conestoga Capital Advisors LLC now owns 5,725 shares of the technology company’s stock worth $1,118,000 after buying an additional 3,475 shares during the period.

Shares of The Ultimate Software Group, Inc. (ULTI) opened at 193.82 on Tuesday. The Ultimate Software Group, Inc. has a 12 month low of $180.29 and a 12 month high of $233.42. The firm has a market cap of $5.78 billion, a price-to-earnings ratio of 200.02 and a beta of 1.08. The company’s 50-day moving average is $212.86 and its 200-day moving average is $205.92.

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

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ULTI has been the subject of a number of research analyst reports. Guggenheim reaffirmed a “buy” rating and issued a $230.00 target price on shares of The Ultimate Software Group in a report on Tuesday, April 18th. Canaccord Genuity reaffirmed a “buy” rating and issued a $240.00 target price on shares of The Ultimate Software Group in a report on Friday, April 21st. Wedbush dropped their target price on shares of The Ultimate Software Group from $240.00 to $236.00 and set an “outperform” rating for the company in a report on Wednesday, April 26th. Mitsubishi UFJ Financial Group reaffirmed an “overweight” rating on shares of The Ultimate Software Group in a report on Tuesday, April 25th. Finally, Zacks Investment Research cut shares of The Ultimate Software Group from a “hold” rating to a “sell” rating in a report on Tuesday, May 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $236.78.

In other news, VP Robert Manne sold 5,000 shares of the business’s stock in a transaction that occurred on 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 sale, the vice president now owns 78,633 shares in the company, valued at $15,757,266.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James A. Fitzpatrick, Jr. sold 4,613 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $200.39, for a total transaction of $924,399.07. Following the sale, the director now owns 15,000 shares in the company, valued at approximately $3,005,850. The disclosure for this sale can be found here. 5.60% of the stock is owned by insiders.

About The Ultimate Software Group

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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