The Ultimate Software Group, Inc. (ULTI) Position Reduced by Granahan Investment Management Inc. MA

Granahan Investment Management Inc. MA trimmed its position in shares of The Ultimate Software Group, Inc. (NASDAQ:ULTI) by 44.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,164 shares of the technology company’s stock after selling 38,339 shares during the period. Granahan Investment Management Inc. MA owned approximately 0.15% of The Ultimate Software Group worth $12,393,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Millennium Management LLC grew its stake in shares of The Ultimate Software Group by 833.6% during the second quarter. Millennium Management LLC now owns 184,772 shares of the technology company’s stock valued at $47,544,000 after acquiring an additional 164,980 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its stake in shares of The Ultimate Software Group by 3.0% during the second quarter. Metropolitan Life Insurance Co. NY now owns 9,955 shares of the technology company’s stock valued at $2,562,000 after acquiring an additional 286 shares in the last quarter. Ardsley Advisory Partners acquired a new stake in shares of The Ultimate Software Group during the second quarter valued at about $901,000. Marshall Wace LLP acquired a new stake in shares of The Ultimate Software Group during the second quarter valued at about $12,048,000. Finally, Zacks Investment Management grew its stake in shares of The Ultimate Software Group by 8.6% during the second quarter. Zacks Investment Management now owns 12,899 shares of the technology company’s stock valued at $3,319,000 after acquiring an additional 1,019 shares in the last quarter.

In other news, Chairman Marc D. Scherr sold 10,000 shares of The Ultimate Software Group stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $279.41, for a total transaction of $2,794,100.00. Following the sale, the chairman now owns 202,571 shares of the company’s stock, valued at $56,600,363.11. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James A. Fitzpatrick, Jr. sold 505 shares of The Ultimate Software Group stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $276.70, for a total value of $139,733.50. The disclosure for this sale can be found here. Insiders sold 15,505 shares of company stock worth $4,329,184 in the last three months. 3.00% of the stock is currently owned by corporate insiders.

Shares of NASDAQ ULTI opened at $291.22 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.01. The Ultimate Software Group, Inc. has a 52-week low of $190.01 and a 52-week high of $332.43. The stock has a market capitalization of $10.05 billion, a price-to-earnings ratio of 365.35, a price-to-earnings-growth ratio of 5.91 and a beta of 1.02.

The Ultimate Software Group (NASDAQ:ULTI) last issued its earnings results on Tuesday, July 31st. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.04. The Ultimate Software Group had a net margin of 3.60% and a return on equity of 7.74%. The firm had revenue of $271.16 million for the quarter, compared to analysts’ expectations of $268.84 million. As a group, analysts anticipate that The Ultimate Software Group, Inc. will post 2.24 EPS for the current fiscal year.

Several analysts have recently weighed in on ULTI shares. BidaskClub downgraded The Ultimate Software Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 26th. ValuEngine downgraded The Ultimate Software Group from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. Zacks Investment Research downgraded The Ultimate Software Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 3rd. Needham & Company LLC raised their target price on The Ultimate Software Group to $310.00 and gave the company a “$291.92” rating in a research note on Wednesday, July 18th. They noted that the move was a valuation call. Finally, JMP Securities raised their target price on The Ultimate Software Group from $280.00 to $317.00 and gave the company a “$293.94” rating in a research note on Monday, July 23rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $298.29.

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 to manage the employee life cycle from recruitment to retirement.

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

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