Millennium Management LLC increased its position in shares of The Ultimate Software Group, Inc. (NASDAQ:ULTI) by 833.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 184,772 shares of the technology company’s stock after purchasing an additional 164,980 shares during the period. Millennium Management LLC owned 0.59% of The Ultimate Software Group worth $47,544,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Prudential Financial Inc. lifted its stake in The Ultimate Software Group by 142.9% in the first quarter. Prudential Financial Inc. now owns 44,151 shares of the technology company’s stock worth $10,760,000 after acquiring an additional 25,974 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in The Ultimate Software Group by 8.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 100,902 shares of the technology company’s stock worth $24,590,000 after acquiring an additional 7,838 shares during the last quarter. Aperio Group LLC lifted its stake in The Ultimate Software Group by 5.3% in the first quarter. Aperio Group LLC now owns 20,884 shares of the technology company’s stock worth $5,089,000 after acquiring an additional 1,055 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in The Ultimate Software Group by 2.4% in the first quarter. Thrivent Financial for Lutherans now owns 29,994 shares of the technology company’s stock worth $7,309,000 after acquiring an additional 706 shares during the last quarter. Finally, Stevens Capital Management LP purchased a new position in The Ultimate Software Group in the first quarter worth approximately $333,000.

A number of research analysts recently issued reports on ULTI shares. Wells Fargo & Co set a $330.00 price target on shares of The Ultimate Software Group and gave the stock a “buy” rating in a research note on Tuesday, July 24th. BidaskClub upgraded shares of The Ultimate Software Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 31st. Needham & Company LLC boosted their price objective on shares of The Ultimate Software Group to $370.00 and gave the stock a “buy” rating in a research report on Monday, September 17th. Zacks Investment Research downgraded shares of The Ultimate Software Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 3rd. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $360.00 price objective on shares of The Ultimate Software Group in a research report on Monday, August 27th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $298.29.

Shares of NASDAQ:ULTI traded up $9.64 on Friday, reaching $293.03. 319,353 shares of the company were exchanged, compared to its average volume of 271,737. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.01. The Ultimate Software Group, Inc. has a 1-year low of $190.01 and a 1-year high of $332.43. The stock has a market cap of $10.05 billion, a PE ratio of 361.77, a price-to-earnings-growth ratio of 5.91 and a beta of 1.02.

The Ultimate Software Group (NASDAQ:ULTI) last posted its quarterly earnings results on Tuesday, July 31st. The technology company reported $1.32 earnings per share 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 business had revenue of $271.16 million for the quarter, compared to analysts’ expectations of $268.84 million. Equities analysts anticipate that The Ultimate Software Group, Inc. will post 2.24 earnings per share for the current year.

In related news, Director James A. Fitzpatrick, Jr. sold 505 shares of the business’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $276.70, for a total value of $139,733.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Marc D. Scherr sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $279.41, for a total transaction of $2,794,100.00. Following the completion of the transaction, the chairman now owns 202,571 shares in the company, valued at $56,600,363.11. The disclosure for this sale can be found here. Insiders sold a total of 15,505 shares of company stock worth $4,329,184 over the last quarter. Insiders own 3.00% of the company’s stock.

The Ultimate Software Group 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 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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