Hhr Asset Management Lowers stake in The Ultimate Software Group (ULTI)

The Ultimate Software Group (ULTI) : Hhr Asset Management reduced its stake in The Ultimate Software Group by 13.93% during the most recent quarter end. The investment management company now holds a total of 407,272 shares of The Ultimate Software Group which is valued at $87,482,026 after selling 65,900 shares in The Ultimate Software Group , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.The Ultimate Software Group makes up approximately 4.15% of Hhr Asset Management’s portfolio.

Other Hedge Funds, Including , Visium Asset Management Lp sold out all of its stake in ULTI during the most recent quarter. The investment firm sold 40,906 shares of ULTI which is valued $8,786,609.Tiaa Cref Investment Management reduced its stake in ULTI by selling 27,158 shares or 18.53% in the most recent quarter. The Hedge Fund company now holds 119,426 shares of ULTI which is valued at $25,652,705. The Ultimate Software Group makes up approx 0.02% of Tiaa Cref Investment Management’s portfolio.Blackrock Advisors boosted its stake in ULTI in the latest quarter, The investment management firm added 599 additional shares and now holds a total of 48,631 shares of The Ultimate Software Group which is valued at $10,445,939. The Ultimate Software Group makes up approx 0.01% of Blackrock Advisors’s portfolio.Geneva Advisors boosted its stake in ULTI in the latest quarter, The investment management firm added 59,873 additional shares and now holds a total of 127,715 shares of The Ultimate Software Group which is valued at $27,412,748. The Ultimate Software Group makes up approx 0.52% of Geneva Advisors’s portfolio. Calamos Advisors added ULTI to its portfolio by purchasing 56,695 company shares during the most recent quarter which is valued at $12,463,829. The Ultimate Software Group makes up approx 0.11% of Calamos Advisors’s portfolio.

The Ultimate Software Group opened for trading at $212.24 and hit $213.87 on the upside on Monday, eventually ending the session at $211.96, with a gain of 0.30% or 0.64 points. The heightened volatility saw the trading volume jump to 1,21,348 shares. Company has a market cap of $6,134 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 Deutsche Bank on Jul 27, 2016 to “Buy”, Firm has raised the Price Target to $ 240 from a previous price target of $215 .Company shares were Reiterated by MKM Partners on Jul 27, 2016 to “Buy”, Firm has raised the Price Target to $ 250 from a previous price target of $230 .Company shares were Reiterated by Stifel on Jul 27, 2016 to “Buy”, Firm has raised the Price Target to $ 235 from a previous price target of $220 .

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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