Ultimate Software Group, Inc. (ULTI) Position Increased by Municipal Employees Retirement System of Michigan

Municipal Employees Retirement System of Michigan increased its position in shares of Ultimate Software Group, Inc. (NASDAQ:ULTI) by 5.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,020 shares of the technology company’s stock after buying an additional 450 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Ultimate Software Group were worth $2,198,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ULTI. Dimensional Fund Advisors LP boosted its holdings in Ultimate Software Group by 7.6% during the third quarter. Dimensional Fund Advisors LP now owns 77,546 shares of the technology company’s stock worth $14,701,000 after buying an additional 5,484 shares in the last quarter. Bank of Montreal Can boosted its holdings in Ultimate Software Group by 28.9% during the fourth quarter. Bank of Montreal Can now owns 15,445 shares of the technology company’s stock worth $3,370,000 after buying an additional 3,463 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Ultimate Software Group by 4.8% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 93,064 shares of the technology company’s stock worth $20,310,000 after buying an additional 4,294 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in Ultimate Software Group during the fourth quarter worth $458,000. Finally, SG Americas Securities LLC boosted its holdings in Ultimate Software Group by 346.5% during the fourth quarter. SG Americas Securities LLC now owns 4,612 shares of the technology company’s stock worth $1,006,000 after buying an additional 3,579 shares in the last quarter.

Ultimate Software Group opened at $265.47 on Friday, according to Marketbeat. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.01. The firm has a market cap of $8.09 billion, a price-to-earnings ratio of 327.74, a P/E/G ratio of 5.40 and a beta of 0.99. Ultimate Software Group, Inc. has a 52-week low of $181.59 and a 52-week high of $268.15.

Ultimate Software Group (NASDAQ:ULTI) last posted its quarterly earnings data on Tuesday, May 1st. The technology company reported $1.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.17. The business had revenue of $277.00 million for the quarter, compared to the consensus estimate of $270.80 million. Ultimate Software Group had a net margin of 2.90% and a return on equity of 6.24%. The company’s revenue was up 21.2% compared to the same quarter last year. During the same period last year, the firm posted $0.75 earnings per share. research analysts anticipate that Ultimate Software Group, Inc. will post 2.25 earnings per share for the current fiscal year.

A number of analysts recently issued reports on the stock. BidaskClub downgraded shares of Ultimate Software Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 13th. TheStreet raised shares of Ultimate Software Group from a “c+” rating to a “b-” rating in a report on Tuesday, May 1st. Wedbush downgraded shares of Ultimate Software Group from an “outperform” rating to a “neutral” rating and increased their price target for the stock from $234.00 to $255.00 in a report on Wednesday, March 14th. Mizuho reissued a “buy” rating and set a $270.00 price target on shares of Ultimate Software Group in a report on Tuesday, April 24th. Finally, JMP Securities increased their price target on shares of Ultimate Software Group from $230.00 to $260.00 and gave the stock a “market outperform” rating in a report on Tuesday, April 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eighteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $253.29.

In other news, Director James A. Fitzpatrick, Jr. sold 4,375 shares of the firm’s stock in a transaction dated Thursday, May 3rd. The shares were sold at an average price of $247.43, for a total value of $1,082,506.25. Following the transaction, the director now directly owns 10,200 shares of the company’s stock, valued at $2,523,786. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Felicia Alvaro sold 2,000 shares of the firm’s stock in a transaction dated Friday, May 4th. The stock was sold at an average price of $250.84, for a total transaction of $501,680.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,375 shares of company stock worth $2,819,786. Insiders own 3.00% of the company’s stock.

Ultimate Software Group Profile

The Ultimate Software Group, Inc provides cloud-based human capital management solutions primarily to enterprise companies in the United States and Canada. The company's UltiPro software solution delivers the functionality businesses to manage the employee life cycle from recruitment to retirement.

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Institutional Ownership by Quarter for Ultimate Software Group (NASDAQ:ULTI)

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