California State Teachers Retirement System trimmed its holdings in The Ultimate Software Group, Inc. (NASDAQ:ULTI) by 9.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,823 shares of the technology company’s stock after selling 4,931 shares during the period. California State Teachers Retirement System owned approximately 0.15% of The Ultimate Software Group worth $8,688,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ULTI. ETRADE Capital Management LLC bought a new position in The Ultimate Software Group in the 2nd quarter valued at $201,000. Banque Pictet & Cie SA bought a new position in The Ultimate Software Group in the 3rd quarter valued at $209,000. Eagle Boston Investment Management Inc. bought a new position in The Ultimate Software Group in the 2nd quarter valued at $218,000. Nomura Holdings Inc. bought a new position in The Ultimate Software Group in the 2nd quarter valued at $229,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in The Ultimate Software Group by 5.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,147 shares of the technology company’s stock valued at $241,000 after purchasing an additional 57 shares during the period.

Shares of The Ultimate Software Group, Inc. (NASDAQ ULTI) opened at $215.94 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a market cap of $6,450.00, a price-to-earnings ratio of 222.62, a price-to-earnings-growth ratio of 16.77 and a beta of 1.08. The Ultimate Software Group, Inc. has a one year low of $180.49 and a one year high of $233.42.

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

Several research analysts have commented on ULTI shares. Stifel Nicolaus raised their price target on shares of The Ultimate Software Group from $235.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Zacks Investment Research raised shares of The Ultimate Software Group from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. Royal Bank of Canada reaffirmed a “buy” rating and set a $216.00 price objective on shares of The Ultimate Software Group in a report on Tuesday, October 10th. Mizuho reaffirmed a “hold” rating and set a $200.00 price objective on shares of The Ultimate Software Group in a report on Thursday, December 14th. Finally, Canaccord Genuity lifted their price objective on shares of The Ultimate Software Group from $225.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the company’s stock. The Ultimate Software Group presently has an average rating of “Buy” and an average target price of $231.58.

In other The Ultimate Software Group news, Chairman Scott Scherr sold 43,537 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $196.21, for a total value of $8,542,394.77. Following the completion of the sale, the chairman now directly owns 426,427 shares of the company’s stock, valued at $83,669,241.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mitchell K. Dauerman sold 15,480 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 122,045 shares of the company’s stock, valued at $23,920,820. The disclosure for this sale can be found here. Insiders sold 116,259 shares of company stock valued at $22,912,048 over the last three months. 4.90% of the stock is currently owned by insiders.

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The Ultimate Software Group Company Profile

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.

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

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