United Services Automobile Association Has $3.35 Million Stake in The Ultimate Software Group, Inc. (ULTI)

United Services Automobile Association reduced its position in The Ultimate Software Group, Inc. (NASDAQ:ULTI) by 31.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,172 shares of the technology company’s stock after selling 8,000 shares during the period. United Services Automobile Association’s holdings in The Ultimate Software Group were worth $3,352,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Board of Administration of Florida Retirement System increased its position in shares of The Ultimate Software Group by 3.2% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 36,494 shares of the technology company’s stock worth $6,655,000 after buying an additional 1,139 shares during the last quarter. Comerica Bank increased its position in shares of The Ultimate Software Group by 6.5% in the fourth quarter. Comerica Bank now owns 21,629 shares of the technology company’s stock worth $4,350,000 after buying an additional 1,315 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of The Ultimate Software Group by 30.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 2,676 shares of the technology company’s stock worth $488,000 after buying an additional 624 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of The Ultimate Software Group by 0.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,293 shares of the technology company’s stock worth $783,000 after buying an additional 13 shares during the last quarter. Finally, Federated Investors Inc. PA increased its position in shares of The Ultimate Software Group by 12.4% in the fourth quarter. Federated Investors Inc. PA now owns 15,636 shares of the technology company’s stock worth $2,851,000 after buying an additional 1,725 shares during the last quarter. 99.38% of the stock is currently owned by hedge funds and other institutional investors.

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

The Ultimate Software Group, Inc. (NASDAQ:ULTI) traded up 0.35% during mid-day trading on Tuesday, reaching $217.25. 40,958 shares of the company were exchanged. The firm has a market capitalization of $6.46 billion, a P/E ratio of 215.10 and a beta of 1.10. The Ultimate Software Group, Inc. has a 1-year low of $180.29 and a 1-year high of $225.62. The stock has a 50-day moving average of $213.92 and a 200 day moving average of $199.51.

The Ultimate Software Group (NASDAQ:ULTI) last released its earnings results on Tuesday, April 25th. The technology company reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.02. The firm had revenue of $228.49 million during the quarter, compared to analyst estimates of $228.87 million. The Ultimate Software Group had a net margin of 3.23% and a return on equity of 6.88%. The business’s revenue was up 22.0% on a year-over-year basis. During the same quarter last year, the business earned $0.73 EPS. Equities research analysts forecast that The Ultimate Software Group, Inc. will post $3.99 earnings per share for the current year.

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ULTI has been the topic of a number of analyst reports. Mizuho initiated coverage on shares of The Ultimate Software Group in a research report on Friday, March 3rd. They issued a “neutral” rating and a $200.00 price objective on the stock. TheStreet raised shares of The Ultimate Software Group from a “c+” rating to a “b” rating in a research report on Monday, March 13th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $260.00 price objective on shares of The Ultimate Software Group in a research report on Friday, April 7th. Guggenheim initiated coverage on shares of The Ultimate Software Group in a research report on Wednesday, April 12th. They issued a “buy” rating and a $230.00 price objective on the stock. Finally, MKM Partners reaffirmed a “buy” rating and issued a $250.00 price objective on shares of The Ultimate Software Group in a research report on Friday, April 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have issued a buy rating to the stock. The Ultimate Software Group presently has an average rating of “Buy” and an average target price of $238.54.

In other news, Director James A. Fitzpatrick, Jr. sold 4,630 shares of the firm’s stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $198.95, for a total value of $921,138.50. Following the completion of the sale, the director now owns 15,421 shares in the company, valued at approximately $3,068,007.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Adam Rogers sold 3,482 shares of the firm’s stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $198.92, for a total transaction of $692,639.44. Following the completion of the sale, the vice president now owns 51,477 shares of the company’s stock, valued at approximately $10,239,804.84. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by company insiders.

About The Ultimate Software Group

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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