Magee Thomson Investment Partners Lowers stake in The Ultimate Software Group (ULTI)

The Ultimate Software Group (ULTI) : Magee Thomson Investment Partners reduced its stake in The Ultimate Software Group by 1.92% during the most recent quarter end. The investment management company now holds a total of 77,290 shares of The Ultimate Software Group which is valued at $15,165,844 after selling 1,510 shares in The Ultimate Software Group , the firm said in a disclosure report filed with the SEC on Apr 20, 2016.The Ultimate Software Group makes up approximately 4.62% of Magee Thomson Investment Partners’s portfolio.

The Ultimate Software Group closed down -0.51 points or -0.26% at $196.22 with 2,86,969 shares getting traded on Friday. Post opening the session at $195.95, the shares hit an intraday low of $194.49 and an intraday high of $198.33 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Gw&k Investment Management boosted its stake in ULTI in the latest quarter, The investment management firm added 16,633 additional shares and now holds a total of 57,291 shares of The Ultimate Software Group which is valued at $11,241,640. The Ultimate Software Group makes up approx 0.25% of Gw&k Investment Management’s portfolio.Sit Investment Associates Inc reduced its stake in ULTI by selling 100 shares or 0.24% in the most recent quarter. The Hedge Fund company now holds 41,175 shares of ULTI which is valued at $7,837,250. The Ultimate Software Group makes up approx 0.14% of Sit Investment Associates Inc’s portfolio. Manning Napier Advisors added ULTI to its portfolio by purchasing 85,520 company shares during the most recent quarter which is valued at $16,277,877. The Ultimate Software Group makes up approx 0.10% of Manning Napier Advisors’s portfolio.

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. FBR Capital Upgraded The Ultimate Software Group on Feb 8, 2016 to ” Outperform”, Price Target of the shares are set at $205.Company shares were Reiterated by Wedbush on Feb 3, 2016 to “Neutral”, Firm has raised the Price Target to $ 195 from a previous price target of $189 .Company shares were Reiterated by RBC Capital Mkts on Feb 3, 2016 to “Outperform”, Firm has raised the Price Target to $ 206 from a previous price target of $200 .

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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