Pictet Asset Management Ltd. Increases Stake in The Ultimate Software Group, Inc. (NASDAQ:ULTI)

Pictet Asset Management Ltd. raised its stake in The Ultimate Software Group, Inc. (NASDAQ:ULTI) by 127.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 94,192 shares of the technology company’s stock after buying an additional 52,691 shares during the period. Pictet Asset Management Ltd. owned about 0.32% of The Ultimate Software Group worth $20,792,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. BlackRock Inc. increased its position in The Ultimate Software Group by 13,409.8% in the first quarter. BlackRock Inc. now owns 2,388,661 shares of the technology company’s stock valued at $466,292,000 after buying an additional 2,370,980 shares during the period. Harbour Capital Advisors LLC increased its position in The Ultimate Software Group by 20,578.4% in the second quarter. Harbour Capital Advisors LLC now owns 1,126,972 shares of the technology company’s stock valued at $5,365,000 after buying an additional 1,121,522 shares during the period. FMR LLC increased its position in The Ultimate Software Group by 11.3% in the first quarter. FMR LLC now owns 3,689,071 shares of the technology company’s stock valued at $720,143,000 after buying an additional 374,243 shares during the period. Wellington Management Group LLP increased its position in The Ultimate Software Group by 11.2% in the first quarter. Wellington Management Group LLP now owns 1,454,994 shares of the technology company’s stock valued at $284,029,000 after buying an additional 146,312 shares during the period. Finally, UBS Asset Management Americas Inc. increased its position in The Ultimate Software Group by 196.7% in the first quarter. UBS Asset Management Americas Inc. now owns 219,266 shares of the technology company’s stock valued at $42,803,000 after buying an additional 145,372 shares during the period.

Shares of The Ultimate Software Group, Inc. (ULTI) opened at 193.13 on Friday. The stock has a market capitalization of $5.76 billion, a PE ratio of 199.31 and a beta of 1.08. The stock has a 50 day moving average of $213.66 and a 200-day moving average of $205.82. The Ultimate Software Group, Inc. has a one year low of $180.29 and a one year high of $233.42.

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

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ULTI has been the subject of several research reports. Zacks Investment Research upgraded shares of The Ultimate Software Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 28th. Credit Suisse Group restated a “buy” rating on shares of The Ultimate Software Group in a research note on Monday, July 3rd. Mitsubishi UFJ Financial Group restated an “overweight” rating on shares of The Ultimate Software Group in a research note on Tuesday, April 25th. SunTrust Banks, Inc. initiated coverage on shares of The Ultimate Software Group in a research note on Monday, June 26th. They issued a “buy” rating and a $240.00 price target for the company. Finally, Piper Jaffray Companies restated an “overweight” rating and issued a $250.00 price target on shares of The Ultimate Software Group in a research note on Saturday, July 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently 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 Ultimate Software Group stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 78,633 shares of the company’s stock, valued at approximately $15,757,266.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James A. Fitzpatrick, Jr. sold 4,613 shares of The Ultimate Software Group stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $200.39, for a total transaction of $924,399.07. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $3,005,850. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.

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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