The Ultimate Software Group, Inc. (ULTI) Shares Bought by JPMorgan Chase & Co.

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JPMorgan Chase & Co. boosted its position in The Ultimate Software Group, Inc. (NASDAQ:ULTI) by 2.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 87,255 shares of the technology company’s stock after purchasing an additional 2,481 shares during the period. JPMorgan Chase & Co. owned approximately 0.28% of The Ultimate Software Group worth $28,113,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ULTI. First Hawaiian Bank acquired a new stake in The Ultimate Software Group in the third quarter worth approximately $109,000. We Are One Seven LLC acquired a new stake in The Ultimate Software Group in the third quarter worth approximately $207,000. USA Financial Portformulas Corp acquired a new stake in The Ultimate Software Group in the third quarter worth approximately $243,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in The Ultimate Software Group in the third quarter worth approximately $249,000. Finally, Harvest Fund Management Co. Ltd lifted its position in The Ultimate Software Group by 386.5% in the third quarter. Harvest Fund Management Co. Ltd now owns 793 shares of the technology company’s stock worth $255,000 after purchasing an additional 630 shares during the period. Hedge funds and other institutional investors own 96.69% of the company’s stock.

Shares of NASDAQ:ULTI opened at $331.80 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.04 and a current ratio of 1.04. The Ultimate Software Group, Inc. has a 12-month low of $216.87 and a 12-month high of $365.86. The firm has a market cap of $10.40 billion, a price-to-earnings ratio of 138.83, a PEG ratio of 5.71 and a beta of 1.25.

The Ultimate Software Group (NASDAQ:ULTI) last announced its earnings results on Monday, February 4th. The technology company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $1.37. The Ultimate Software Group had a net margin of 5.71% and a return on equity of 10.67%. The company had revenue of $304.80 million for the quarter, compared to the consensus estimate of $300.60 million. During the same period in the previous year, the business earned $1.11 EPS. The company’s revenue was up 21.2% on a year-over-year basis. On average, sell-side analysts forecast that The Ultimate Software Group, Inc. will post 2.74 earnings per share for the current fiscal year.

A number of research firms have weighed in on ULTI. ValuEngine upgraded The Ultimate Software Group from a “buy” rating to a “strong-buy” rating in a research report on Monday. Jefferies Financial Group cut The Ultimate Software Group from a “buy” rating to a “hold” rating and set a $332.54 price target on the stock. in a report on Tuesday. Deutsche Bank cut The Ultimate Software Group from a “buy” rating to a “hold” rating in a report on Tuesday. Raymond James cut The Ultimate Software Group from an “outperform” rating to a “market perform” rating in a report on Tuesday. Finally, Credit Suisse Group cut The Ultimate Software Group from an “outperform” rating to a “neutral” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $300.68.

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About The Ultimate Software Group

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 need to manage the employee life cycle from recruitment to retirement.

Read More: Conference Calls and Individual Investors

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

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