Envestnet Asset Management Inc. Reduces Holdings in The Ultimate Software Group, Inc. (ULTI)

Envestnet Asset Management Inc. trimmed its position in The Ultimate Software Group, Inc. (NASDAQ:ULTI) by 10.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,958 shares of the technology company’s stock after selling 2,790 shares during the period. Envestnet Asset Management Inc. owned 0.08% of The Ultimate Software Group worth $4,732,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Stifel Financial Corp boosted its stake in The Ultimate Software Group by 53.9% in the third quarter. Stifel Financial Corp now owns 15,183 shares of the technology company’s stock valued at $2,897,000 after acquiring an additional 5,315 shares during the period. Pinebridge Investments L.P. acquired a new position in The Ultimate Software Group in the third quarter valued at approximately $2,657,000. Dimensional Fund Advisors LP boosted its stake in The Ultimate Software Group by 7.6% in the third quarter. Dimensional Fund Advisors LP now owns 77,546 shares of the technology company’s stock valued at $14,701,000 after acquiring an additional 5,484 shares during the period. Barbara Oil Co. boosted its stake in The Ultimate Software Group by 50.0% in the third quarter. Barbara Oil Co. now owns 3,000 shares of the technology company’s stock valued at $569,000 after acquiring an additional 1,000 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its stake in The Ultimate Software Group by 1.2% in the third quarter. Schwab Charles Investment Management Inc. now owns 88,770 shares of the technology company’s stock valued at $16,831,000 after acquiring an additional 1,011 shares during the period.

A number of equities analysts have commented on ULTI shares. Stifel Nicolaus lifted their target price on 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. Zacks Investment Research upgraded The Ultimate Software Group from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Royal Bank of Canada restated a “buy” rating and issued a $216.00 target price on shares of The Ultimate Software Group in a research note on Tuesday, October 10th. Mizuho restated a “hold” rating and issued a $200.00 target price on shares of The Ultimate Software Group in a research note on Thursday, December 14th. Finally, BidaskClub upgraded The Ultimate Software Group from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $231.58.

In related news, CFO Mitchell K. Dauerman sold 15,480 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 122,045 shares of the company’s stock, valued at $23,920,820. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Robert Manne sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $206.08, for a total value of $1,030,400.00. Following the sale, the vice president now directly owns 76,484 shares in the company, valued at approximately $15,761,822.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,259 shares of company stock worth $22,912,048. 4.90% of the stock is owned by corporate insiders.

Shares of The Ultimate Software Group, Inc. (NASDAQ:ULTI) traded down $0.28 during midday trading on Tuesday, hitting $217.95. The stock had a trading volume of 261,666 shares, compared to its average volume of 247,800. The Ultimate Software Group, Inc. has a fifty-two week low of $181.59 and a fifty-two week high of $233.42. The firm has a market capitalization of $6,519.79, a P/E ratio of 224.69, a PEG ratio of 16.92 and a beta of 1.08. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.18 and a current ratio of 1.18.

The Ultimate Software Group (NASDAQ:ULTI) last announced its earnings results on Wednesday, November 1st. The technology company reported $1.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.17. The Ultimate Software Group had a return on equity of 6.84% and a net margin of 3.31%. The firm had revenue of $236.11 million for the quarter, compared to analysts’ expectations of $232.92 million. During the same quarter in the previous year, the company earned $0.78 earnings per share. The firm’s quarterly revenue was up 19.9% compared to the same quarter last year. equities research analysts forecast that The Ultimate Software Group, Inc. will post 0.63 earnings per share for the current year.

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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.

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

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