Granahan Investment Management Incma buys $52,331,745 stake in The Ultimate Software Group (ULTI)

The Ultimate Software Group (ULTI) : Granahan Investment Management Incma scooped up 1,170 additional shares in The Ultimate Software Group during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 274,103 shares of The Ultimate Software Group which is valued at $52,331,745.The Ultimate Software Group makes up approximately 1.77% of Granahan Investment Management Incma’s portfolio.

Other Hedge Funds, Including , Raymond James Financial Services Advisors boosted its stake in ULTI in the latest quarter, The investment management firm added 451 additional shares and now holds a total of 2,052 shares of The Ultimate Software Group which is valued at $391,768.Lord Abbett reduced its stake in ULTI by selling 67,613 shares or 26.64% in the most recent quarter. The Hedge Fund company now holds 186,237 shares of ULTI which is valued at $36,681,240. The Ultimate Software Group makes up approx 0.12% of Lord Abbett’s portfolio. Princeton Alpha Management Lp added ULTI to its portfolio by purchasing 1,581 company shares during the most recent quarter which is valued at $311,394. The Ultimate Software Group makes up approx 0.06% of Princeton Alpha Management Lp’s portfolio.Cabot Wealth Management Inc reduced its stake in ULTI by selling 480 shares or 4.6% in the most recent quarter. The Hedge Fund company now holds 9,965 shares of ULTI which is valued at $2,152,440. The Ultimate Software Group makes up approx 0.57% of Cabot Wealth Management Inc’s portfolio.Ibm Retirement Fund reduced its stake in ULTI by selling 205 shares or 7.39% in the most recent quarter. The Hedge Fund company now holds 2,569 shares of ULTI which is valued at $536,253. The Ultimate Software Group makes up approx 0.03% of Ibm Retirement Fund’s portfolio.

The Ultimate Software Group closed down -1 points or -0.47% at $209.81 with 3,24,104 shares getting traded on Monday. Post opening the session at $210.5, the shares hit an intraday low of $209.595 and an intraday high of $212.92 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, The Ultimate Software Group reported $0.78 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Nov 1, 2016. Analyst had a consensus of $0.77. The company had revenue of $197.00 million for the quarter, compared to analysts expectations of $196.92 million. The company’s revenue was up 26.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 EPS.

Many Wall Street Analysts have commented on The Ultimate Software Group. Wedbush Upgraded The Ultimate Software Group on Oct 31, 2016 to ” Outperform”, Price Target of the shares are set at $242.The Ultimate Software Group was Initiated by Pacific Crest to “Overweight” on Sep 20, 2016.

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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