PNC Financial Services Group Inc. Raises Holdings in The Ultimate Software Group, Inc. (ULTI)

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PNC Financial Services Group Inc. raised its position in The Ultimate Software Group, Inc. (NASDAQ:ULTI) by 4.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,741 shares of the technology company’s stock after buying an additional 217 shares during the quarter. PNC Financial Services Group Inc.’s holdings in The Ultimate Software Group were worth $1,219,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lord Abbett & CO. LLC grew its holdings in shares of The Ultimate Software Group by 512.8% during the 1st quarter. Lord Abbett & CO. LLC now owns 268,961 shares of the technology company’s stock worth $65,546,000 after purchasing an additional 225,072 shares in the last quarter. BlackRock Inc. grew its holdings in shares of The Ultimate Software Group by 5.0% during the 2nd quarter. BlackRock Inc. now owns 2,598,596 shares of the technology company’s stock worth $668,644,000 after purchasing an additional 123,866 shares in the last quarter. Summit Trail Advisors LLC grew its holdings in shares of The Ultimate Software Group by 23,735.4% during the 1st quarter. Summit Trail Advisors LLC now owns 115,840 shares of the technology company’s stock worth $116,000 after purchasing an additional 115,354 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of The Ultimate Software Group by 99.7% during the 2nd quarter. First Trust Advisors LP now owns 152,509 shares of the technology company’s stock worth $39,242,000 after purchasing an additional 76,158 shares in the last quarter. Finally, Fiera Capital Corp grew its holdings in shares of The Ultimate Software Group by 50.8% during the 1st quarter. Fiera Capital Corp now owns 167,474 shares of the technology company’s stock worth $40,813,000 after purchasing an additional 56,412 shares in the last quarter.

Shares of ULTI stock opened at $312.90 on Thursday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.01. The Ultimate Software Group, Inc. has a twelve month low of $181.59 and a twelve month high of $332.43. The firm has a market cap of $10.01 billion, a P/E ratio of 235.94, a price-to-earnings-growth ratio of 5.89 and a beta of 1.03.

The Ultimate Software Group (NASDAQ:ULTI) last announced its quarterly earnings data on Tuesday, July 31st. The technology company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.04. The business had revenue of $271.16 million during the quarter, compared to the consensus estimate of $268.84 million. The Ultimate Software Group had a return on equity of 7.74% and a net margin of 3.60%. research analysts expect that The Ultimate Software Group, Inc. will post 2.24 earnings per share for the current fiscal year.

ULTI has been the topic of several analyst reports. BidaskClub raised The Ultimate Software Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 31st. ValuEngine lowered The Ultimate Software Group from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. Zacks Investment Research lowered The Ultimate Software Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 3rd. Needham & Company LLC upped their price objective on The Ultimate Software Group to $310.00 and gave the stock a “$291.92” rating in a research report on Wednesday, July 18th. They noted that the move was a valuation call. Finally, JMP Securities upped their price objective on The Ultimate Software Group from $280.00 to $317.00 and gave the stock a “$293.94” rating in a research report on Monday, July 23rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The Ultimate Software Group has an average rating of “Buy” and an average target price of $294.30.

In other The Ultimate Software Group news, Director James A. Fitzpatrick, Jr. sold 505 shares of the stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $276.70, for a total value of $139,733.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Marc D. Scherr sold 10,000 shares of the stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $279.41, for a total value of $2,794,100.00. Following the completion of the transaction, the chairman now owns 202,571 shares of the company’s stock, valued at $56,600,363.11. The disclosure for this sale can be found here. Insiders sold 15,505 shares of company stock valued at $4,329,184 over the last quarter. Corporate insiders own 3.00% of the company’s stock.

The Ultimate Software Group Company Profile

The Ultimate Software Group, Inc provides cloud-based human capital management solutions primarily to enterprise companies in the United States and Canada. The company's UltiPro software solution delivers the functionality businesses to manage the employee life cycle from recruitment to retirement.

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

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