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 9.77% during the most recent quarter end. The investment management company now holds a total of 69,740 shares of The Ultimate Software Group which is valued at $15,388,828 after selling 7,550 shares in The Ultimate Software Group , the firm said in a disclosure report filed with the SEC on Jul 21, 2016.The Ultimate Software Group makes up approximately 5.12% of Magee Thomson Investment Partners’s portfolio.

Other Hedge Funds, Including , Kanaly Trust Co boosted its stake in ULTI in the latest quarter, The investment management firm added 4 additional shares and now holds a total of 10 shares of The Ultimate Software Group which is valued at $2,207.Eagle Asset Management Inc reduced its stake in ULTI by selling 31,732 shares or 4.67% in the most recent quarter. The Hedge Fund company now holds 647,961 shares of ULTI which is valued at $141,482,284. The Ultimate Software Group makes up approx 0.94% of Eagle Asset Management Inc’s portfolio.Cabot Wealth Management Inc reduced its stake in ULTI by selling 8,853 shares or 45.88% in the most recent quarter. The Hedge Fund company now holds 10,445 shares of ULTI which is valued at $2,260,298. The Ultimate Software Group makes up approx 0.58% of Cabot Wealth Management Inc’s portfolio. Washington Trust Bank added ULTI to its portfolio by purchasing 18 company shares during the most recent quarter which is valued at $3,884.

The Ultimate Software Group closed down -9.17 points or -4.17% at $210.67 with 8,23,019 shares getting traded on Thursday. Post opening the session at $209.35, the shares hit an intraday low of $203.52 and an intraday high of $212.43 and the price fluctuated in this range throughout the day.Shares ended Thursday 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. Piper Jaffray Resumed The Ultimate Software Group on Jun 1, 2016 to “Overweight”, Price Target of the shares are set at $225.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 .

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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