Mercer Global Advisors Inc. ADV Buys New Holdings in The Ultimate Software Group, Inc. (ULTI)

Mercer Global Advisors Inc. ADV purchased a new stake in shares of The Ultimate Software Group, Inc. (NASDAQ:ULTI) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,109 shares of the technology company’s stock, valued at approximately $1,026,000.

Other large investors have also made changes to their positions in the company. Carroll Financial Associates Inc. lifted its holdings in shares of The Ultimate Software Group by 66.2% during the first quarter. Carroll Financial Associates Inc. now owns 108 shares of the technology company’s stock valued at $35,000 after purchasing an additional 43 shares in the last quarter. Advisory Services Network LLC increased its position in The Ultimate Software Group by 72.2% during the fourth quarter. Advisory Services Network LLC now owns 155 shares of the technology company’s stock valued at $38,000 after acquiring an additional 65 shares during the last quarter. Executive Wealth Management LLC purchased a new stake in The Ultimate Software Group during the fourth quarter valued at $41,000. Fort L.P. purchased a new stake in The Ultimate Software Group during the fourth quarter valued at $84,000. Finally, First Hawaiian Bank increased its position in The Ultimate Software Group by 25.3% during the fourth quarter. First Hawaiian Bank now owns 426 shares of the technology company’s stock valued at $105,000 after acquiring an additional 86 shares during the last quarter. 94.65% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ULTI opened at $331.36 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $10.50 billion, a price-to-earnings ratio of 138.64, a P/E/G ratio of 6.50 and a beta of 1.30. The Ultimate Software Group, Inc. has a 52 week low of $219.97 and a 52 week high of $365.86.

The Ultimate Software Group (NASDAQ:ULTI) last issued its quarterly earnings results on Monday, February 4th. The technology company reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $1.37. The business had revenue of $304.80 million during the quarter, compared to analysts’ expectations of $300.60 million. The Ultimate Software Group had a return on equity of 9.90% and a net margin of 5.71%. The business’s quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.11 earnings per share. As a group, research analysts anticipate that The Ultimate Software Group, Inc. will post 2.4 earnings per share for the current fiscal year.

ULTI has been the subject of a number of research reports. William Blair cut The Ultimate Software Group from an “outperform” rating to a “market perform” rating in a research report on Thursday, March 28th. Goldman Sachs Group initiated coverage on The Ultimate Software Group in a research report on Friday, February 1st. They set a “neutral” rating for the company. BidaskClub upgraded The Ultimate Software Group from a “hold” rating to a “buy” rating in a research report on Wednesday, January 9th. Deutsche Bank initiated coverage on The Ultimate Software Group in a research report on Friday, January 25th. They set a “buy” rating and a $267.32 price objective for the company. Finally, ValuEngine upgraded The Ultimate Software Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 4th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $317.11.

In other The Ultimate Software Group news, VP Adam Rogers sold 5,495 shares of the company’s stock in a transaction dated Monday, February 11th. The stock was sold at an average price of $331.91, for a total value of $1,823,845.45. Following the completion of the sale, the vice president now owns 56,667 shares in the company, valued at $18,808,343.97. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director James A. Fitzpatrick, Jr. sold 531 shares of the company’s stock in a transaction dated Thursday, February 7th. The stock was sold at an average price of $332.00, for a total value of $176,292.00. Following the completion of the sale, the director now owns 9,937 shares of the company’s stock, valued at approximately $3,299,084. The disclosure for this sale can be found here. In the last 90 days, insiders sold 152,522 shares of company stock valued at $50,593,109. Company insiders own 3.00% of the company’s stock.

WARNING: “Mercer Global Advisors Inc. ADV Buys New Holdings in The Ultimate Software Group, Inc. (ULTI)” was published by Baseball Daily News and is owned by of Baseball Daily News. If you are viewing this news story on another domain, it was illegally stolen and republished in violation of US and international copyright & trademark laws. The original version of this news story can be accessed at https://www.baseballdailydigest.com/news/2019/05/04/mercer-global-advisors-inc-adv-buys-new-holdings-in-the-ultimate-software-group-inc-ulti.html.

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.

See Also: What is range trading?

Want to see what other hedge funds are holding ULTI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Ultimate Software Group, Inc. (NASDAQ:ULTI).

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

Receive News & Ratings for The Ultimate Software Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Ultimate Software Group and related companies with MarketBeat.com's FREE daily email newsletter.