Baird Financial Group Inc. Has $52.10 Million Position in The Ultimate Software Group, Inc. (ULTI)

Baird Financial Group Inc. increased its holdings in The Ultimate Software Group, Inc. (NASDAQ:ULTI) by 20.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 238,746 shares of the technology company’s stock after purchasing an additional 40,003 shares during the quarter. Baird Financial Group Inc.’s holdings in The Ultimate Software Group were worth $52,102,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Zions Bancorporation purchased a new position in The Ultimate Software Group in the third quarter worth approximately $182,000. Banque Pictet & Cie SA purchased a new position in The Ultimate Software Group in the third quarter worth approximately $209,000. CIBC Asset Management Inc purchased a new position in The Ultimate Software Group in the fourth quarter worth approximately $213,000. FineMark National Bank & Trust purchased a new position in The Ultimate Software Group in the fourth quarter worth approximately $217,000. Finally, Nomura Holdings Inc. purchased a new position in The Ultimate Software Group in the second quarter worth approximately $229,000.

Several research analysts recently weighed in on the company. Wedbush reiterated an “outperform” rating and issued a $234.00 price objective (up from $226.00) on shares of The Ultimate Software Group in a research report on Wednesday, February 7th. BidaskClub upgraded The Ultimate Software Group from a “hold” rating to a “buy” rating in a research report on Friday. SunTrust Banks raised their price target on The Ultimate Software Group to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Bank of America raised their price target on The Ultimate Software Group from $187.00 to $210.00 and gave the stock an “underperform” rating in a research report on Thursday, February 8th. Finally, Royal Bank of Canada raised their price target on The Ultimate Software Group to $260.00 and gave the stock a “positive” rating in a research report on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eighteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $243.90.

In related news, VP Robert Manne sold 5,000 shares of The Ultimate Software Group stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $228.85, for a total value of $1,144,250.00. Following the completion of the transaction, the vice president now directly owns 63,873 shares in the company, valued at $14,617,336.05. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP John C. Phenicie sold 7,088 shares of The Ultimate Software Group stock in a transaction on Monday, February 12th. The shares were sold at an average price of $226.48, for a total value of $1,605,290.24. Following the completion of the transaction, the vice president now owns 32,158 shares of the company’s stock, valued at $7,283,143.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 279,019 shares of company stock valued at $62,615,236. 4.90% of the stock is currently owned by company insiders.

The Ultimate Software Group, Inc. (NASDAQ ULTI) opened at $245.62 on Monday. The stock has a market capitalization of $7,338.14, a price-to-earnings ratio of 511.71, a P/E/G ratio of 6.07 and a beta of 1.07. The Ultimate Software Group, Inc. has a fifty-two week low of $181.59 and a fifty-two week high of $247.79. 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 Ultimate Software Group (NASDAQ:ULTI) last released its earnings results on Tuesday, February 6th. The technology company reported $1.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.24. The firm had revenue of $251.43 million during the quarter, compared to analyst estimates of $244.83 million. The Ultimate Software Group had a return on equity of 5.31% and a net margin of 1.59%. The Ultimate Software Group’s revenue was up 19.4% compared to the same quarter last year. During the same period last year, the business posted $0.91 earnings per share. research analysts anticipate that The Ultimate Software Group, Inc. will post 1.83 EPS for the current year.

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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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