Eagle Asset Management Inc Lowers stake in The Ultimate Software Group (ULTI)

The Ultimate Software Group (ULTI) : Eagle Asset Management Inc reduced its stake in The Ultimate Software Group by 1.46% during the most recent quarter end. The investment management company now holds a total of 638,501 shares of The Ultimate Software Group which is valued at $129,117,672 after selling 9,460 shares in The Ultimate Software Group , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.The Ultimate Software Group makes up approximately 0.89% of Eagle Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Capstone Asset Management Co reduced its stake in ULTI by selling 111 shares or 3.19% in the most recent quarter. The Hedge Fund company now holds 3,365 shares of ULTI which is valued at $680,470. The Ultimate Software Group makes up approx 0.02% of Capstone Asset Management Co’s portfolio. Cobiz Investment Management added ULTI to its portfolio by purchasing 14,553 company shares during the most recent quarter which is valued at $3,016,109. The Ultimate Software Group makes up approx 0.73% of Cobiz Investment Management’s portfolio.Cupps Capital Management reduced its stake in ULTI by selling 15,107 shares or 42.83% in the most recent quarter. The Hedge Fund company now holds 20,162 shares of ULTI which is valued at $4,178,575. The Ultimate Software Group makes up approx 1.82% of Cupps Capital Management’s portfolio.Washington Trust Bank boosted its stake in ULTI in the latest quarter, The investment management firm added 5 additional shares and now holds a total of 23 shares of The Ultimate Software Group which is valued at $4,738.

The Ultimate Software Group closed down -5.03 points or -2.43% at $202.22 with 1,90,042 shares getting traded on Tuesday. Post opening the session at $206.16, the shares hit an intraday low of $200.11 and an intraday high of $206.88 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, The Ultimate Software Group reported $0.73 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.66. The company had revenue of $187.20 million for the quarter, compared to analysts expectations of $180.10 million. The company’s revenue was up 29.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS.

Many Wall Street Analysts have commented on The Ultimate Software Group. The Ultimate Software Group was Initiated by Pacific Crest to “Overweight” on Sep 20, 2016. Company shares were Reiterated by Deutsche Bank on Jul 27, 2016 to “Buy”, Firm has raised the Price Target to $ 240 from a previous price target of $215 .Company shares were Reiterated by MKM Partners on Jul 27, 2016 to “Buy”, Firm has raised the Price Target to $ 250 from a previous price target of $230 .

The Ultimate Software Group Inc. is a cloud provider of people management solutions referred to as human capital management (HCM). The Company’s UltiPro product suite (UltiPro) is engaging solution that has human resources (HR) payroll and benefits management and includes global people management available in approximately 10 languages with over 35 country-specific localizations. Its solution includes feature sets for talent acquisition and onboarding HR management and compliance benefits management and online enrollment payroll performance management compensation management with salary planning budgeting and development of incentive plans succession management reporting and analytical decision-making and predictive tools and time and attendance. Its customers represent a variety of industries including manufacturing food services sports technology finance insurance retail real estate transportation communications healthcare and other services.

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