American International Group Inc. Has $12.83 Million Stake in The Ultimate Software Group, Inc. (ULTI)

American International Group Inc. increased its position in The Ultimate Software Group, Inc. (NASDAQ:ULTI) by 1.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,805 shares of the technology company’s stock after purchasing an additional 837 shares during the quarter. American International Group Inc. owned 0.20% of The Ultimate Software Group worth $12,833,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ULTI. Raymond James Financial Services Advisors Inc. boosted its stake in shares of The Ultimate Software Group by 8.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 4,827 shares of the technology company’s stock valued at $1,014,000 after purchasing an additional 366 shares during the period. Lord Abbett & CO. LLC boosted its stake in The Ultimate Software Group by 6.6% during the 2nd quarter. Lord Abbett & CO. LLC now owns 37,321 shares of the technology company’s stock valued at $7,840,000 after acquiring an additional 2,317 shares during the last quarter. First Trust Advisors LP bought a new position in The Ultimate Software Group during the 3rd quarter valued at $1,338,000. Peregrine Capital Management LLC boosted its stake in The Ultimate Software Group by 2.5% during the 3rd quarter. Peregrine Capital Management LLC now owns 143,594 shares of the technology company’s stock valued at $27,225,000 after acquiring an additional 3,454 shares during the last quarter. Finally, Pictet Asset Management Ltd. boosted its stake in The Ultimate Software Group by 13.4% during the 3rd quarter. Pictet Asset Management Ltd. now owns 106,797 shares of the technology company’s stock valued at $20,249,000 after acquiring an additional 12,605 shares during the last quarter.

The Ultimate Software Group, Inc. (NASDAQ:ULTI) opened at $247.14 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.18 and a quick ratio of 1.18. The Ultimate Software Group, Inc. has a 52-week low of $181.59 and a 52-week high of $250.17. The stock has a market cap of $7,295.37, a PE ratio of 283.94, a PEG ratio of 6.03 and a beta of 1.07.

The Ultimate Software Group (NASDAQ:ULTI) last posted its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.24. The Ultimate Software Group had a net margin of 1.59% and a return on equity of 5.31%. The company had revenue of $251.43 million for the quarter, compared to the consensus estimate of $244.83 million. During the same period last year, the firm posted $0.91 EPS. The company’s revenue for the quarter was up 19.4% on a year-over-year basis. research analysts anticipate that The Ultimate Software Group, Inc. will post 1.83 earnings per share for the current year.

In other news, Director Rick Wilber sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $244.96, for a total value of $1,224,800.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Scott Scherr sold 110,522 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $224.58, for a total transaction of $24,821,030.76. Following the completion of the transaction, the chairman now owns 343,139 shares in the company, valued at $77,062,156.62. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 284,019 shares of company stock worth $63,840,036. Insiders own 4.90% of the company’s stock.

ULTI has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of The Ultimate Software Group from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. Royal Bank of Canada increased their price objective on shares of The Ultimate Software Group from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, November 2nd. Wells Fargo & Co reiterated an “outperform” rating and set a $240.00 price objective (up from $230.00) on shares of The Ultimate Software Group in a research note on Thursday, November 2nd. Stifel Nicolaus increased their price objective on shares of The Ultimate Software Group from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. Finally, Wedbush reiterated an “outperform” rating and set a $220.00 price objective (down from $226.00) on shares of The Ultimate Software Group in a research note on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eighteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $243.90.

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About The Ultimate Software Group

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.

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

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