The Ultimate Software Group, Inc. (ULTI) Sees Significant Growth in Short Interest

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The Ultimate Software Group, Inc. (NASDAQ:ULTI) was the target of a large growth in short interest in April. As of April 30th, there was short interest totalling 1,055,858 shares, a growth of 41.9% from the April 15th total of 744,038 shares. Based on an average daily trading volume, of 498,381 shares, the short-interest ratio is presently 2.1 days. Currently, 3.3% of the shares of the company are sold short.

A number of research analysts recently weighed in on the stock. Stifel Nicolaus lowered shares of The Ultimate Software Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th. ValuEngine lowered shares of The Ultimate Software Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 1st. BidaskClub lowered shares of The Ultimate Software Group from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd. William Blair lowered shares of The Ultimate Software Group from an “outperform” rating to a “market perform” rating in a research report on Thursday, March 28th. Finally, Royal Bank of Canada lowered shares of The Ultimate Software Group from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $340.00 to $331.50 in a research report on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company. The Ultimate Software Group currently has a consensus rating of “Hold” and a consensus target price of $317.11.

ULTI opened at $331.36 on Monday. The firm has a market cap of $10.50 billion, a PE ratio of 138.64, a PEG ratio of 6.51 and a beta of 1.29. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.01. The Ultimate Software Group has a one year low of $219.97 and a one year high of $365.86.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ULTI. JPMorgan Chase & Co. lifted its holdings 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 acquiring an additional 2,481 shares during the last quarter. Vanguard Group Inc lifted its holdings in shares of The Ultimate Software Group by 4.4% during the 3rd quarter. Vanguard Group Inc now owns 2,666,371 shares of the technology company’s stock worth $859,078,000 after acquiring an additional 112,463 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of The Ultimate Software Group by 144.8% during the 4th quarter. Bank of Montreal Can now owns 70,864 shares of the technology company’s stock worth $17,351,000 after acquiring an additional 41,920 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD lifted its holdings in shares of The Ultimate Software Group by 37.7% during the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 42,353 shares of the technology company’s stock worth $10,370,000 after acquiring an additional 11,600 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of The Ultimate Software Group by 11.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,548 shares of the technology company’s stock worth $624,000 after acquiring an additional 256 shares during the last quarter. Hedge funds and other institutional investors own 91.20% of the company’s stock.

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About The Ultimate Software Group

The Ultimate Software Group, Inc provides cloud-based human capital management solutions to enterprise companies, mid-market companies, and companies in the strategic market in the United States, Canada, Europe, the Asia Pacific, and internationally. Its UltiPro software solution delivers the functionality businesses need to manage the employee life cycle from recruitment to retirement.

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