Foresters Investment Management Company Inc. Takes Position in The Ultimate Software Group, Inc. (ULTI)

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Foresters Investment Management Company Inc. purchased a new stake in The Ultimate Software Group, Inc. (NASDAQ:ULTI) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 29,600 shares of the technology company’s stock, valued at approximately $7,248,000.

A number of other institutional investors also recently made changes to their positions in the business. American Century Companies Inc. purchased a new stake in shares of The Ultimate Software Group during the 3rd quarter worth approximately $13,132,000. Stone Ridge Asset Management LLC increased its stake in shares of The Ultimate Software Group by 37.0% during the 3rd quarter. Stone Ridge Asset Management LLC now owns 1,835 shares of the technology company’s stock worth $591,000 after purchasing an additional 496 shares during the last quarter. ING Groep NV purchased a new stake in shares of The Ultimate Software Group during the 3rd quarter worth approximately $667,000. JPMorgan Chase & Co. increased its stake in shares of The Ultimate Software Group by 2.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 87,255 shares of the technology company’s stock worth $28,113,000 after purchasing an additional 2,481 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of The Ultimate Software Group by 0.6% during the 3rd quarter. Rhumbline Advisers now owns 65,101 shares of the technology company’s stock worth $20,975,000 after purchasing an additional 393 shares during the last quarter. Institutional investors own 95.21% of the company’s stock.

The Ultimate Software Group stock opened at $331.83 on Friday. The Ultimate Software Group, Inc. has a 1-year low of $219.97 and a 1-year high of $365.86. The company has a market capitalization of $10.52 billion, a P/E ratio of 138.84, a price-to-earnings-growth ratio of 6.52 and a beta of 1.33. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.01.

The Ultimate Software Group (NASDAQ:ULTI) last released its quarterly earnings data on Monday, February 4th. The technology company reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $1.37. The Ultimate Software Group had a net margin of 5.71% and a return on equity of 9.90%. The business had revenue of $304.80 million during the quarter, compared to analyst estimates of $300.60 million. During the same period in the previous year, the business earned $1.11 EPS. The Ultimate Software Group’s revenue was up 21.2% compared to the same quarter last year. Sell-side analysts forecast that The Ultimate Software Group, Inc. will post 2.4 EPS for the current year.

In other The Ultimate Software Group news, CEO Scott Scherr sold 70,809 shares of the firm’s stock in a transaction on Monday, February 11th. The shares were sold at an average price of $331.68, for a total value of $23,485,929.12. Following the completion of the transaction, the chief executive officer now directly owns 251,777 shares of the company’s stock, valued at approximately $83,509,395.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James A. Fitzpatrick, Jr. sold 531 shares of the firm’s stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $332.00, for a total transaction of $176,292.00. Following the completion of the transaction, the director now directly owns 9,937 shares of the company’s stock, valued at $3,299,084. The disclosure for this sale can be found here. Over the last three months, insiders sold 152,522 shares of company stock valued at $50,593,109. Insiders own 3.00% of the company’s stock.

Several equities research analysts have recently issued reports on the stock. Deutsche Bank lowered shares of The Ultimate Software Group from a “buy” rating to a “hold” rating in a research note on Tuesday, February 5th. Roth Capital lowered shares of The Ultimate Software Group from a “buy” rating to a “neutral” rating in a research note on Monday, February 4th. Zacks Investment Research upgraded shares of The Ultimate Software Group from a “strong sell” rating to a “hold” rating in a research note on Saturday, January 5th. SunTrust Banks raised their price target on shares of The Ultimate Software Group to $331.50 in a research note on Wednesday, February 6th. Finally, BidaskClub upgraded shares of The Ultimate Software Group from a “sell” rating to a “hold” rating in a research note on Friday, November 23rd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $314.68.

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The Ultimate Software Group Company 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 need to manage the employee life cycle from recruitment to retirement.

See Also: What is a good rate of return for a mutual fund?

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

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