The Ultimate Software Group, Inc. (ULTI) Shares Sold by Royal Bank of Canada

Royal Bank of Canada lessened its stake in The Ultimate Software Group, Inc. (NASDAQ:ULTI) by 34.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,232 shares of the technology company’s stock after selling 26,715 shares during the period. Royal Bank of Canada owned approximately 0.17% of The Ultimate Software Group worth $10,761,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ULTI. Creative Planning grew its position in The Ultimate Software Group by 257.4% in the 2nd quarter. Creative Planning now owns 504 shares of the technology company’s stock worth $106,000 after purchasing an additional 363 shares during the period. Huntington National Bank grew its position in The Ultimate Software Group by 24.7% in the 2nd quarter. Huntington National Bank now owns 857 shares of the technology company’s stock worth $180,000 after purchasing an additional 170 shares during the period. Benjamin F. Edwards & Company Inc. grew its position in The Ultimate Software Group by 23.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 873 shares of the technology company’s stock worth $183,000 after purchasing an additional 164 shares during the period. FineMark National Bank & Trust bought a new stake in The Ultimate Software Group in the 2nd quarter worth approximately $200,000. Finally, ETRADE Capital Management LLC bought a new stake in The Ultimate Software Group in the 2nd quarter worth approximately $201,000.

In other news, VP Robert Manne sold 5,000 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $200.39, for a total transaction of $1,001,950.00. Following the transaction, the vice president now directly owns 78,633 shares of the company’s stock, valued at approximately $15,757,266.87. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James A. Fitzpatrick, Jr. sold 4,613 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $200.39, for a total transaction of $924,399.07. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $3,005,850. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.

A number of equities research analysts have commented on ULTI shares. BidaskClub raised shares of The Ultimate Software Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 24th. Pacific Crest reaffirmed an “overweight” rating and issued a $255.00 target price (up previously from $240.00) on shares of The Ultimate Software Group in a research report on Monday, June 26th. SunTrust Banks, Inc. started coverage on shares of The Ultimate Software Group in a research report on Monday, June 26th. They issued a “buy” rating and a $240.00 target price for the company. Credit Suisse Group reaffirmed a “buy” rating on shares of The Ultimate Software Group in a research report on Monday, July 3rd. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $250.00 target price on shares of The Ultimate Software Group in a research report on Saturday, July 22nd. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $235.29.

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Shares of The Ultimate Software Group, Inc. (NASDAQ:ULTI) opened at 194.45 on Tuesday. The Ultimate Software Group, Inc. has a 12 month low of $180.29 and a 12 month high of $233.42. The firm has a market cap of $5.80 billion, a price-to-earnings ratio of 200.67 and a beta of 1.07. The stock has a 50 day moving average of $191.63 and a 200 day moving average of $205.09.

The Ultimate Software Group (NASDAQ:ULTI) last posted its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.03). The Ultimate Software Group had a return on equity of 7.20% and a net margin of 3.47%. The company had revenue of $224.70 million for the quarter, compared to analyst estimates of $228.02 million. During the same period last year, the company earned $0.76 earnings per share. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, equities research analysts expect that The Ultimate Software Group, Inc. will post $3.53 EPS for the current fiscal year.

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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