Amalgamated Bank boosted its stake in The Ultimate Software Group, Inc. (NASDAQ:ULTI) by 30.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,800 shares of the technology company’s stock after purchasing an additional 1,356 shares during the quarter. Amalgamated Bank’s holdings in The Ultimate Software Group were worth $1,218,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in ULTI. American Century Companies Inc. grew its holdings in The Ultimate Software Group by 19.2% in the first quarter. American Century Companies Inc. now owns 4,583 shares of the technology company’s stock valued at $895,000 after purchasing an additional 737 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in The Ultimate Software Group by 24.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,090 shares of the technology company’s stock valued at $213,000 after purchasing an additional 215 shares during the period. World Asset Management Inc grew its holdings in The Ultimate Software Group by 17.6% in the first quarter. World Asset Management Inc now owns 2,047 shares of the technology company’s stock valued at $400,000 after purchasing an additional 306 shares during the period. UBS Asset Management Americas Inc. grew its holdings in The Ultimate Software Group by 196.7% in the first quarter. UBS Asset Management Americas Inc. now owns 219,266 shares of the technology company’s stock valued at $42,803,000 after purchasing an additional 145,372 shares during the period. Finally, Karp Capital Management Corp purchased a new stake in The Ultimate Software Group in the first quarter valued at approximately $3,205,000.

The Ultimate Software Group, Inc. (NASDAQ ULTI) opened at 185.16 on Monday. The firm has a market capitalization of $5.52 billion, a PE ratio of 191.08 and a beta of 1.09. The Ultimate Software Group, Inc. has a 12 month low of $180.29 and a 12 month high of $233.42. The firm’s 50-day moving average is $195.31 and its 200-day moving average is $205.65.

The Ultimate Software Group (NASDAQ:ULTI) last released its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.03). The Ultimate Software Group had a return on equity of 7.20% and a net margin of 3.47%. The firm had revenue of $224.70 million during the quarter, compared to analyst estimates of $228.02 million. During the same quarter in the prior year, the company posted $0.76 EPS. The company’s quarterly revenue was up 20.4% on a year-over-year basis. On average, equities research analysts expect that The Ultimate Software Group, Inc. will post $3.53 EPS for the current year.

A number of equities research analysts recently issued reports on the stock. ValuEngine upgraded shares of The Ultimate Software Group from a “sell” rating to a “hold” rating in a report on Friday, September 1st. BidaskClub upgraded shares of The Ultimate Software Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. KeyCorp set a $235.00 target price on shares of The Ultimate Software Group and gave the company a “buy” rating in a report on Wednesday, August 16th. Credit Suisse Group restated an “outperform” rating and issued a $245.00 target price (down from $260.00) on shares of The Ultimate Software Group in a report on Monday, August 14th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $216.00 target price (down from $233.00) on shares of The Ultimate Software Group in a report on Tuesday, August 8th. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The Ultimate Software Group currently has an average rating of “Buy” and a consensus target price of $235.67.

COPYRIGHT VIOLATION WARNING: “The Ultimate Software Group, Inc. (ULTI) Position Raised by Amalgamated Bank” was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of United States and international trademark & copyright law. The legal version of this piece of content can be read at https://www.thecerbatgem.com/2017/09/25/the-ultimate-software-group-inc-ulti-position-raised-by-amalgamated-bank.html.

In related news, VP Robert Manne sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $200.39, for a total value of $1,001,950.00. Following the transaction, the vice president now owns 78,633 shares in the company, valued at $15,757,266.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James A. Fitzpatrick, Jr. sold 4,613 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $200.39, for a total value of $924,399.07. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $3,005,850. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.

About The Ultimate Software Group

The Ultimate Software Group, Inc (Ultimate) is a cloud provider of people management solutions, referred to as human capital management (HCM). The Company’s UltiPro product suite (UltiPro) is an engaging solution that has human resources (HR), payroll and benefits management. As of December 31, 2016, UltiPro included global people management, available in 14 languages with more than 35 country-specific localizations.

Institutional Ownership by Quarter for The Ultimate Software Group (NASDAQ:ULTI)

Receive News & Stock Ratings for The Ultimate Software Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Ultimate Software Group Inc. and related stocks with our FREE daily email newsletter.