Eulav Asset Management buys $20.9 Million stake in The Ultimate Software Group (ULTI)

The Ultimate Software Group (ULTI) : Eulav Asset Management scooped up 1,400 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 12, 2016. The investment management firm now holds a total of 109,200 shares of The Ultimate Software Group which is valued at $20.9 Million.The Ultimate Software Group makes up approximately 1.17% of Eulav Asset Management’s portfolio.

Other Hedge Funds, Including , Ithaka Group added ULTI to its portfolio by purchasing 57,211 company shares during the most recent quarter which is valued at $11 Million. The Ultimate Software Group makes up approx 1.59% of Ithaka Group’s portfolio. Huntington Asset Advisors sold out all of its stake in ULTI during the most recent quarter. The investment firm sold 360 shares of ULTI which is valued $69,023.Blackrock Investment Management reduced its stake in ULTI by selling 2,004 shares or 2.36% in the most recent quarter. The Hedge Fund company now holds 83,090 shares of ULTI which is valued at $15.9 Million. The Ultimate Software Group makes up approx 0.02% of Blackrock Investment Management’s portfolio.Cabot Wealth Management Inc reduced its stake in ULTI by selling 367 shares or 1.87% in the most recent quarter. The Hedge Fund company now holds 19,298 shares of ULTI which is valued at $3.7 Million. The Ultimate Software Group makes up approx 1.03% of Cabot Wealth Management Inc’s portfolio.Gilder Gagnon Howe Co reduced its stake in ULTI by selling 12,321 shares or 33.82% in the most recent quarter. The Hedge Fund company now holds 24,110 shares of ULTI which is valued at $4.6 Million. The Ultimate Software Group makes up approx 0.09% of Gilder Gagnon Howe Co’s portfolio.

The Ultimate Software Group opened for trading at $196.4 and hit $198.37 on the upside on Friday, eventually ending the session at $197.25, with a gain of 2.40% or 4.62 points. The heightened volatility saw the trading volume jump to 2,12,253 shares. Company has a market cap of $5,695,791 M.

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. 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 .Company shares were Reiterated by RBC Capital Mkts on Apr 27, 2016 to “Outperform”, Firm has raised the Price Target to $ 218 from a previous price target of $202 .

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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