Hhr Asset Management buys $90.7 Million stake in The Ultimate Software Group (ULTI)

The Ultimate Software Group (ULTI) : Hhr Asset Management scooped up 170,779 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 May 13, 2016. The investment management firm now holds a total of 473,172 shares of The Ultimate Software Group which is valued at $90.7 Million.The Ultimate Software Group makes up approximately 4.39% of Hhr Asset Management’s portfolio.

Other Hedge Funds, Including , Clinton Group Inc sold out all of its stake in ULTI during the most recent quarter. The investment firm sold 9,120 shares of ULTI which is valued $1.7 Million.Mutual Of America Capital Management boosted its stake in ULTI in the latest quarter, The investment management firm added 617 additional shares and now holds a total of 20,119 shares of The Ultimate Software Group which is valued at $3.9 Million. The Ultimate Software Group makes up approx 0.09% of Mutual Of America Capital Management’s portfolio.Ifp Advisors Inc reduced its stake in ULTI by selling 35 shares or 8.84% in the most recent quarter. The Hedge Fund company now holds 361 shares of ULTI which is valued at $68,218. Atwood Palmer Inc sold out all of its stake in ULTI during the most recent quarter. The investment firm sold 46 shares of ULTI which is valued $9,043.

The Ultimate Software Group closed down -0.78 points or -0.39% at $198.41 with 2,58,297 shares getting traded on Wednesday. Post opening the session at $199.99, the shares hit an intraday low of $196.3301 and an intraday high of $200.62 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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. Goldman Initiated The Ultimate Software Group on May 23, 2016 to “Neutral”, Price Target of the shares are set at $196.Company shares were Reiterated by Wedbush on Apr 28, 2016 to “Neutral”, Firm has raised the Price Target to $ 203 from a previous price target of $194 .Company shares were Reiterated by FBR Capital on Apr 27, 2016 to “Outperform”, Firm has raised the Price Target to $ 220 from a previous price target of $205 .

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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