Granahan Investment Management Incma Lowers stake in The Ultimate Software Group (ULTI)

The Ultimate Software Group (ULTI) : Granahan Investment Management Incma reduced its stake in The Ultimate Software Group by 5.61% during the most recent quarter end. The investment management company now holds a total of 277,443 shares of The Ultimate Software Group which is valued at $53.2 Million after selling 16,484 shares in The Ultimate Software Group , the firm said in a disclosure report filed with the SEC on May 13, 2016.The Ultimate Software Group makes up approximately 1.96% of Granahan Investment Management Incma’s portfolio.

Other Hedge Funds, Including , Chicago Equity Partners boosted its stake in ULTI in the latest quarter, The investment management firm added 1,995 additional shares and now holds a total of 14,495 shares of The Ultimate Software Group which is valued at $2.8 Million. The Ultimate Software Group makes up approx 0.08% of Chicago Equity Partners’s portfolio.Oppenheimerfunds boosted its stake in ULTI in the latest quarter, The investment management firm added 122,530 additional shares and now holds a total of 573,930 shares of The Ultimate Software Group which is valued at $110 Million. The Ultimate Software Group makes up approx 0.15% of Oppenheimerfunds’s portfolio.Motley Fool Wealth Management boosted its stake in ULTI in the latest quarter, The investment management firm added 7,419 additional shares and now holds a total of 47,182 shares of The Ultimate Software Group which is valued at $9 Million. The Ultimate Software Group makes up approx 1.08% of Motley Fool Wealth Management’s portfolio.Geneva Advisors reduced its stake in ULTI by selling 8,177 shares or 10.76% in the most recent quarter. The Hedge Fund company now holds 67,842 shares of ULTI which is valued at $12.8 Million. The Ultimate Software Group makes up approx 0.26% of Geneva Advisors’s portfolio.First Mercantile Trust Co reduced its stake in ULTI by selling 622 shares or 7.87% in the most recent quarter. The Hedge Fund company now holds 7,280 shares of ULTI which is valued at $1.4 Million. The Ultimate Software Group makes up approx 0.17% of First Mercantile Trust Co’s portfolio.

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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