The Ultimate Software Group, Inc. (ULTI) Stake Decreased by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust cut its stake in The Ultimate Software Group, Inc. (NASDAQ:ULTI) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 729 shares of the technology company’s stock after selling 4 shares during the period. Parkside Financial Bank & Trust’s holdings in The Ultimate Software Group were worth $153,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. AQR Capital Management LLC increased its position in shares of The Ultimate Software Group by 4.1% in the fourth quarter. AQR Capital Management LLC now owns 6,462 shares of the technology company’s stock valued at $1,178,000 after buying an additional 254 shares in the last quarter. Quadrature Capital Ltd boosted its stake in The Ultimate Software Group by 313.1% in the fourth quarter. Quadrature Capital Ltd now owns 9,502 shares of the technology company’s stock worth $1,733,000 after buying an additional 7,202 shares in the last quarter. Teachers Advisors LLC boosted its stake 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. Foundry Partners LLC boosted its stake in shares of The Ultimate Software Group by 2.3% in the first quarter. Foundry Partners LLC now owns 18,727 shares of the technology company’s stock worth $3,656,000 after buying an additional 416 shares during the period. Finally, Raymond James Trust N.A. acquired a new position in The Ultimate Software Group during the first quarter worth approximately $216,000.

Shares of The Ultimate Software Group, Inc. (NASDAQ ULTI) traded up 1.89% during trading on Friday, hitting $193.13. The stock had a trading volume of 380,445 shares. The Ultimate Software Group, Inc. has a 1-year low of $180.29 and a 1-year high of $233.42. The company has a market cap of $5.76 billion, a PE ratio of 199.31 and a beta of 1.08. The firm’s 50 day moving average is $213.66 and its 200 day moving average is $205.82.

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

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Several equities analysts have recently issued reports on ULTI shares. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $250.00 price target on shares of The Ultimate Software Group in a research note on Saturday, July 22nd. Mitsubishi UFJ Financial Group reiterated an “overweight” rating on shares of The Ultimate Software Group in a report on Tuesday, April 25th. Credit Suisse Group restated an “outperform” rating and issued a $245.00 price target (down from $260.00) on shares of The Ultimate Software Group in a report on Wednesday, August 2nd. KeyCorp restated a “buy” rating on shares of The Ultimate Software Group in a report on Wednesday, August 2nd. Finally, Stephens reiterated an “equal weight” rating and set a $203.00 price objective (down from $215.00) on shares of The Ultimate Software Group in a report on Wednesday, August 2nd. One 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 company 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 stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $200.39, for a total value 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 stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $200.39, for a total transaction of $924,399.07. Following the completion of 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 currently owned by corporate insiders.

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.

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

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