KeyCorp Reiterates "Buy" Rating for The Ultimate Software Group, Inc. (ULTI)

Paterniano Del Favero
Agosto 16, 2017

As of quarter end Nbw Capital LLC had sold a total of 208 shares trimming its position 0.8%. (NASDAQ:ULTI) by 4.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. It dropped, as 32 investors sold The Ultimate Software Group, Inc. shares while 111 reduced holdings. Sit Investment Associates Inc. owned about 0.09% of The Ultimate Software Group worth $5,712,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in ULTI. BlackRock Inc. raised its position in shares of The Ultimate Software Group by 1.4% in the second quarter. Sphera Funds Management LTD. acquired a new position in The Ultimate Software Group during the first quarter valued at approximately $156,000. BlackRock Inc. now owns 2,388,661 shares of the technology company's stock valued at $466,292,000 after buying an additional 2,370,980 shares in the last quarter. Acrospire Investment Management LLC raised its stake in The Ultimate Software Group by 50.0% in the first quarter. Acrospire Investment Management LLC now owns 600 shares of the technology company's stock worth $117,000 after buying an additional 200 shares during the period. Benjamin F. Edwards & Company Inc. now owns 709 shares of the technology company's stock valued at $138,000 after buying an additional 659 shares during the period. Janus Capital Management LLC now owns 903,969 shares of the technology company's stock valued at $176,458,000 after buying an additional 123,801 shares in the last quarter. (NASDAQ:ULTI) earned "Buy" rating by Roth Capital on Wednesday, October 28. 122,102 shares of the company traded hands.

The Ultimate Software Group, Inc. has a 1-year low of $180.29 and a 1-year high of $233.42. The firm has a market cap of $5.76 billion, a P/E ratio of 199.31 and a beta of 1.08. The company has a 50 day moving average of $213.66 and a 200-day moving average of $205.82.

(NASDAQ:ULTI) were released by: Seekingalpha.com and their article: "The Ultimate Software Group (ULTI) Q2 2017 Results - Earnings Call Transcript" published on August 02, 2017 as well as Zacks.com's news article titled: "Why Earnings Season Could Be Great for The Ultimate Software Group (ULTI) July ..." with publication date: July 28, 2017. The technology company reported $0.18 EPS for the quarter, missing analysts' consensus estimates of $0.21 by $0.03. The company had revenue of $224.70 million for the quarter, compared to analysts' expectations of $228.02 million. More interesting news about The Ultimate Software Group, Inc. The business's revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.76 EPS. Equities analysts expect that The Ultimate Software Group, Inc. will post $3.53 EPS for the current fiscal year.

Shares of The Ultimate Software Group, Inc. "(NASDAQ:ULTI)" was originally reported by Markets Daily and is owned by of Markets Daily. If you are viewing this story on another site, it was copied illegally and reposted in violation of worldwide copyright and trademark laws. The correct version of this article can be accessed at https://weekherald.com/2017/08/14/janney-montgomery-scott-llc-purchases-shares-of-4417-the-ultimate-software-group-inc-nasdaqulti.html.

The following firms have also recently changed their position in ULTI.

On August 2 Canaccord Genuity held the stock rating at "Buy" and raised the price target from $150.00 to $225.00. The Ultimate Software Group now has a consensus rating of "Buy" and a consensus price target of $235.67. KeyCorp restated a "buy" rating on shares of The Ultimate Software Group in a research note on Wednesday, August 2nd. Credit Suisse Group AG reissued a "buy" rating on shares of The Ultimate Software Group in a research note on Monday, July 3rd. Wedbush lowered their price target on shares of The Ultimate Software Group from $240.00 to $236.00 and set an "outperform" rating for the company in a report on Wednesday, April 26th. Out of 23 Wall Street analysts rating Ultimate Software, 16 give it "Buy", 0 "Sell" rating, while 7 recommend "Hold". The Ultimate Software Group presently has a consensus rating of "Buy" and an average target price of $235.67. The shares were sold at an average price of $200.39, for a total transaction of $924,399.07. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $3,005,850. The sale was disclosed in a document filed with the SEC, which is available at this link.

In related news, VP Robert Manne sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, August 3rd. Shares were disposed in a price range of $200.39, amounting to $1,001,950.00. Following the sale, the vice president now directly owns 78,633 shares in the company, valued at approximately $15,757,266.87. The disclosure for this sale can be found here. (Ultimate), launched on April 15, 1996, 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.

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