JPMorgan Chase & Co. Purchases 34,043 Shares of The Ultimate Software Group, Inc. (ULTI)

JPMorgan Chase & Co. increased its position in shares of The Ultimate Software Group, Inc. (NASDAQ:ULTI) by 9,698.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,394 shares of the technology company’s stock after purchasing an additional 34,043 shares during the period. JPMorgan Chase & Co. owned 0.12% of The Ultimate Software Group worth $6,358,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. ETRADE Capital Management LLC acquired a new stake in The Ultimate Software Group during the second quarter worth about $201,000. Banque Pictet & Cie SA acquired a new stake in The Ultimate Software Group during the third quarter worth about $209,000. Eagle Boston Investment Management Inc. acquired a new stake in The Ultimate Software Group during the second quarter worth about $218,000. Nomura Holdings Inc. acquired a new stake in The Ultimate Software Group during the second quarter worth about $229,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in The Ultimate Software Group by 5.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,147 shares of the technology company’s stock worth $241,000 after purchasing an additional 57 shares during the last quarter.

A number of equities research analysts have weighed in on the stock. Zacks Investment Research cut shares of The Ultimate Software Group from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. Royal Bank of Canada reiterated a “buy” rating and set a $216.00 price target on shares of The Ultimate Software Group in a research report on Tuesday, October 10th. Wells Fargo & Co reiterated an “outperform” rating and set a $240.00 price target (up from $230.00) on shares of The Ultimate Software Group in a research report on Thursday, November 2nd. Stifel Nicolaus lifted their price target on shares of The Ultimate Software Group from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. Finally, Wedbush reiterated an “outperform” rating and set a $220.00 price target (down from $226.00) on shares of The Ultimate Software Group in a research report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eighteen have given a buy rating to the company’s stock. The Ultimate Software Group presently has an average rating of “Buy” and an average price target of $232.37.

The Ultimate Software Group, Inc. (ULTI) opened at $226.28 on Friday. The Ultimate Software Group, Inc. has a 12 month low of $181.59 and a 12 month high of $233.42. 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 stock has a market cap of $6,786.58, a P/E ratio of 233.28, a P/E/G ratio of 8.48 and a beta of 1.08.

The Ultimate Software Group (NASDAQ:ULTI) last issued its quarterly 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 net margin of 3.31% and a return on equity of 6.84%. The company had revenue of $236.11 million during the quarter, compared to the consensus estimate of $232.92 million. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The firm’s quarterly revenue was up 19.9% on a year-over-year basis. equities research analysts forecast that The Ultimate Software Group, Inc. will post 0.63 EPS for the current fiscal year.

In related news, Director James A. Fitzpatrick, Jr. sold 4,585 shares of The Ultimate Software Group stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $205.82, for a total value of $943,684.70. Following the completion of the transaction, the director now owns 14,650 shares in the company, valued at $3,015,263. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alois T. Leiter sold 5,559 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $198.16, for a total transaction of $1,101,571.44. Following the sale, the director now owns 165,596 shares of the company’s stock, valued at approximately $32,814,503.36. The disclosure for this sale can be found here. Insiders sold 116,259 shares of company stock valued at $22,912,048 in the last quarter. 4.90% of the stock is owned by insiders.

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The Ultimate Software Group 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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