Shell Asset Management Co. Takes Position in The Ultimate Software Group, Inc. (ULTI)

Shell Asset Management Co. purchased a new stake in shares of The Ultimate Software Group, Inc. (NASDAQ:ULTI) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,250 shares of the technology company’s stock, valued at approximately $1,047,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ULTI. First Hawaiian Bank purchased a new stake in The Ultimate Software Group in the third quarter worth about $109,000. Kornitzer Capital Management Inc. KS purchased a new stake in The Ultimate Software Group in the second quarter worth about $201,000. Sawtooth Solutions LLC purchased a new stake in The Ultimate Software Group in the second quarter worth about $205,000. Alps Advisors Inc. purchased a new stake in The Ultimate Software Group in the second quarter worth about $205,000. Finally, We Are One Seven LLC purchased a new stake in The Ultimate Software Group in the third quarter worth about $207,000. Institutional investors and hedge funds own 97.01% of the company’s stock.

Shares of ULTI opened at $255.18 on Wednesday. The company has a market cap of $8.25 billion, a P/E ratio of 315.04, a PEG ratio of 5.86 and a beta of 1.19. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.01. The Ultimate Software Group, Inc. has a twelve month low of $205.01 and a twelve month high of $332.43.

The Ultimate Software Group (NASDAQ:ULTI) last announced its quarterly earnings results on Tuesday, October 30th. The technology company reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.01. The company had revenue of $287.83 million during the quarter, compared to the consensus estimate of $287.22 million. The Ultimate Software Group had a net margin of 4.57% and a return on equity of 8.17%. The firm’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.05 earnings per share. On average, sell-side analysts anticipate that The Ultimate Software Group, Inc. will post 2.11 EPS for the current fiscal year.

In related news, VP Gregory Swick sold 4,252 shares of the firm’s stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $257.00, for a total transaction of $1,092,764.00. Following the completion of the sale, the vice president now owns 25,460 shares of the company’s stock, valued at $6,543,220. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James A. Fitzpatrick, Jr. sold 494 shares of The Ultimate Software Group stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $267.20, for a total transaction of $131,996.80. Following the completion of the sale, the director now directly owns 9,969 shares of the company’s stock, valued at approximately $2,663,716.80. The disclosure for this sale can be found here. 3.00% of the stock is owned by company insiders.

Several analysts have commented on the stock. Needham & Company LLC raised their price objective on shares of The Ultimate Software Group to $370.00 and gave the stock a “buy” rating in a report on Monday, September 17th. Bank of America raised their price objective on shares of The Ultimate Software Group from $258.00 to $266.00 and gave the stock an “underperform” rating in a report on Wednesday, September 26th. Jefferies Financial Group assumed coverage on shares of The Ultimate Software Group in a report on Monday, October 1st. They issued a “buy” rating and a $370.00 price objective for the company. BidaskClub lowered shares of The Ultimate Software Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 20th. Finally, Piper Jaffray Companies restated an “overweight” rating and issued a $360.00 price objective on shares of The Ultimate Software Group in a report on Monday, August 27th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $296.38.

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About The Ultimate Software Group

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.

See Also: Return on Investment (ROI)

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

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