State Street Corp increased its position in The Ultimate Software Group, Inc. (NASDAQ:ULTI) by 3.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 745,602 shares of the technology company’s stock after buying an additional 25,767 shares during the period. State Street Corp’s holdings in The Ultimate Software Group were worth $145,553,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC boosted its position in The Ultimate Software Group by 50.0% in the first quarter. Acrospire Investment Management LLC now owns 600 shares of the technology company’s stock worth $117,000 after buying an additional 200 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in The Ultimate Software Group by 1,318.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 709 shares of the technology company’s stock worth $138,000 after buying an additional 659 shares in the last quarter. Sphera Funds Management LTD. bought a new position in The Ultimate Software Group during the first quarter worth $156,000. Ladenburg Thalmann Financial Services Inc. boosted its position in The Ultimate Software Group by 11.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 859 shares of the technology company’s stock worth $156,000 after buying an additional 90 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in The Ultimate Software Group by 24.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,090 shares of the technology company’s stock worth $213,000 after buying an additional 215 shares in the last quarter. Hedge funds and other institutional investors own 99.38% of the company’s stock.

The Ultimate Software Group, Inc. (NASDAQ:ULTI) opened at 210.18 on Friday. The Ultimate Software Group, Inc. has a 52 week low of $180.29 and a 52 week high of $225.63. The company’s 50-day moving average price is $215.78 and its 200 day moving average price is $200.84. The company has a market capitalization of $6.25 billion, a PE ratio of 208.10 and a beta of 1.07.

The Ultimate Software Group (NASDAQ:ULTI) last announced its quarterly earnings data on Tuesday, April 25th. The technology company reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.02. The Ultimate Software Group had a return on equity of 6.88% and a net margin of 3.23%. The company had revenue of $228.49 million for the quarter, compared to analyst estimates of $228.87 million. During the same quarter last year, the firm earned $0.73 EPS. The Ultimate Software Group’s revenue for the quarter was up 22.0% compared to the same quarter last year. On average, equities research analysts anticipate that The Ultimate Software Group, Inc. will post $3.98 EPS for the current year.

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A number of equities analysts have weighed in on the company. BidaskClub cut The Ultimate Software Group from a “strong-buy” rating to a “buy” rating in a report on Friday, June 30th. SunTrust Banks, Inc. assumed coverage on The Ultimate Software Group in a report on Monday, June 26th. They issued a “buy” rating and a $240.00 price target for the company. Canaccord Genuity restated a “buy” rating and issued a $240.00 price target on shares of The Ultimate Software Group in a report on Thursday, May 25th. Pacific Crest restated an “overweight” rating and issued a $255.00 price target (up previously from $240.00) on shares of The Ultimate Software Group in a report on Monday, June 26th. Finally, Credit Suisse Group restated a “buy” rating on shares of The Ultimate Software Group in a report on Monday. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $239.36.

In related news, VP Adam Rogers sold 3,482 shares of the business’s stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $198.92, for a total value of $692,639.44. Following the sale, the vice president now owns 51,477 shares of the company’s stock, valued at approximately $10,239,804.84. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James A. Fitzpatrick, Jr. sold 4,630 shares of the business’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $198.95, for a total value of $921,138.50. Following the completion of the sale, the director now directly owns 15,421 shares in the company, valued at approximately $3,068,007.95. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by company 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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