Amundi Pioneer Asset Management Inc. Invests $14.50 Million in The Ultimate Software Group, Inc. (NASDAQ:ULTI)

Amundi Pioneer Asset Management Inc. purchased a new stake in shares of The Ultimate Software Group, Inc. (NASDAQ:ULTI) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 66,452 shares of the technology company’s stock, valued at approximately $14,502,000. Amundi Pioneer Asset Management Inc. owned approximately 0.22% of The Ultimate Software Group at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Janus Henderson Group PLC raised its position in The Ultimate Software Group by 10.5% during the third quarter. Janus Henderson Group PLC now owns 2,480,892 shares of the technology company’s stock worth $470,377,000 after acquiring an additional 235,848 shares during the period. BlackRock Inc. raised its position in The Ultimate Software Group by 0.7% during the fourth quarter. BlackRock Inc. now owns 2,379,320 shares of the technology company’s stock worth $519,239,000 after acquiring an additional 15,810 shares during the period. Wells Fargo & Company MN raised its position in The Ultimate Software Group by 2.7% during the third quarter. Wells Fargo & Company MN now owns 1,206,051 shares of the technology company’s stock worth $228,666,000 after acquiring an additional 31,945 shares during the period. Eagle Asset Management Inc. raised its position in The Ultimate Software Group by 2.6% during the fourth quarter. Eagle Asset Management Inc. now owns 693,526 shares of the technology company’s stock worth $151,256,000 after acquiring an additional 17,897 shares during the period. Finally, Bamco Inc. NY raised its position in The Ultimate Software Group by 32.6% during the third quarter. Bamco Inc. NY now owns 520,740 shares of the technology company’s stock worth $98,732,000 after acquiring an additional 128,099 shares during the period.

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A number of equities research analysts have recently commented on the stock. ValuEngine upgraded shares of The Ultimate Software Group from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. BidaskClub upgraded shares of The Ultimate Software Group from a “hold” rating to a “buy” rating in a research report on Tuesday, March 27th. Wedbush cut shares of The Ultimate Software Group from an “outperform” rating to a “neutral” rating and raised their price objective for the stock from $234.00 to $255.00 in a research report on Wednesday, March 14th. Bank of America raised their price objective on shares of The Ultimate Software Group from $187.00 to $210.00 and gave the stock an “underperform” rating in a research report on Thursday, February 8th. Finally, Stephens restated a “hold” rating and set a $240.00 price objective on shares of The Ultimate Software Group in a research report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eighteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $244.95.

In other The Ultimate Software Group news, VP Robert Manne sold 5,000 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $228.85, for a total transaction of $1,144,250.00. Following the sale, the vice president now directly owns 63,873 shares in the company, valued at approximately $14,617,336.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John C. Phenicie sold 7,088 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $226.48, for a total transaction of $1,605,290.24. Following the sale, the vice president now owns 32,158 shares in the company, valued at $7,283,143.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 284,019 shares of company stock worth $63,840,036. 4.90% of the stock is currently owned by insiders.

Shares of The Ultimate Software Group stock traded down $4.58 during trading on Friday, reaching $239.09. The company’s stock had a trading volume of 94,537 shares, compared to its average volume of 235,426. The stock has a market capitalization of $7,622.54, a price-to-earnings ratio of 283.34, a PEG ratio of 6.02 and a beta of 0.97. The Ultimate Software Group, Inc. has a fifty-two week low of $181.59 and a fifty-two week high of $257.93. 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 (NASDAQ:ULTI) last announced its earnings results on Tuesday, February 6th. The technology company reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.24. The business had revenue of $251.43 million for the quarter, compared to analysts’ expectations of $244.83 million. The Ultimate Software Group had a net margin of 1.59% and a return on equity of 5.31%. The company’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 EPS. analysts anticipate that The Ultimate Software Group, Inc. will post 1.83 earnings per share for the current year.

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The Ultimate Software Group 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)

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