The Ultimate Software Group, Inc. (ULTI) Shares Sold by Sit Investment Associates Inc.

Sit Investment Associates Inc. cut its stake in shares of The Ultimate Software Group, Inc. (NASDAQ:ULTI) by 20.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,635 shares of the technology company’s stock after selling 5,340 shares during the quarter. Sit Investment Associates Inc. owned 0.07% of The Ultimate Software Group worth $4,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently made changes to their positions in the company. Zions Bancorporation bought a new stake in The Ultimate Software Group during the third quarter valued at approximately $182,000. ETRADE Capital Management LLC bought a new stake in The Ultimate Software Group during the second quarter valued at approximately $201,000. Banque Pictet & Cie SA bought a new stake in The Ultimate Software Group during the third quarter valued at approximately $209,000. Nomura Holdings Inc. bought a new stake in The Ultimate Software Group during the second quarter valued at approximately $229,000. Finally, GSA Capital Partners LLP bought a new stake in The Ultimate Software Group during the third quarter valued at approximately $232,000.

The Ultimate Software Group, Inc. (NASDAQ ULTI) opened at $226.28 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.01. The Ultimate Software Group, Inc. has a one year low of $181.59 and a one year high of $233.42. The company has a market cap of $6,780.00, a price-to-earnings ratio of 233.28, a P/E/G ratio of 8.24 and a beta of 1.08.

The Ultimate Software Group (NASDAQ:ULTI) last issued its earnings results on Wednesday, November 1st. The technology company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.88 by $0.17. The Ultimate Software Group had a net margin of 1.99% and a return on equity of 3.69%. The company had revenue of $236.11 million for the quarter, compared to the consensus estimate of $232.92 million. During the same period in the previous year, the firm earned $0.78 earnings per share. The firm’s revenue for the quarter was up 19.9% on a year-over-year basis. analysts anticipate that The Ultimate Software Group, Inc. will post 0.63 EPS for the current year.

In related news, VP Robert Manne sold 5,000 shares of The Ultimate Software Group stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $206.08, for a total value of $1,030,400.00. Following the transaction, the vice president now directly owns 76,484 shares of the company’s stock, valued at $15,761,822.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mitchell K. Dauerman sold 15,480 shares of The Ultimate Software Group stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $196.00, for a total transaction of $3,034,080.00. Following the completion of the transaction, the chief financial officer now directly owns 122,045 shares in the company, valued at $23,920,820. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 116,259 shares of company stock worth $22,912,048. 4.90% of the stock is owned by insiders.

Several equities research analysts have issued reports on ULTI shares. Stifel Nicolaus lifted their target price on shares of The Ultimate Software Group from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. Zacks Investment Research raised shares of The Ultimate Software Group from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Royal Bank of Canada reissued a “buy” rating and set a $216.00 price target on shares of The Ultimate Software Group in a research note on Tuesday, October 10th. Mizuho reissued a “hold” rating and set a $200.00 price target on shares of The Ultimate Software Group in a research note on Thursday, December 14th. Finally, BidaskClub raised shares of The Ultimate Software Group from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and eighteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $232.37.

WARNING: This story was first posted by Week Herald and is the sole property of of Week Herald. If you are viewing this story on another site, it was illegally copied and reposted in violation of U.S. and international copyright laws. The correct version of this story can be viewed at https://weekherald.com/2018/01/13/the-ultimate-software-group-inc-ulti-shares-sold-by-sit-investment-associates-inc.html.

The Ultimate Software Group Company Profile

The Ultimate Software Group, Inc (Ultimate) is a cloud provider of people management solutions, referred to as human capital management (HCM). The Company’s UltiPro product suite (UltiPro) is an engaging solution that has human resources (HR), payroll and benefits management. As of December 31, 2016, UltiPro included global people management, available in 14 languages with more than 35 country-specific localizations.

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.

Leave a Reply