Marc D. Scherr Sells 51,195 Shares of The Ultimate Software Group, Inc. (ULTI) Stock

The Ultimate Software Group, Inc. (NASDAQ:ULTI) COO Marc D. Scherr sold 51,195 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $225.72, for a total value of $11,555,735.40. Following the completion of the transaction, the chief operating officer now owns 304,939 shares in the company, valued at approximately $68,830,831.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Shares of The Ultimate Software Group, Inc. (NASDAQ ULTI) traded up $5.98 during trading hours on Tuesday, hitting $230.95. The company’s stock had a trading volume of 226,602 shares, compared to its average volume of 320,953. The Ultimate Software Group, Inc. has a 12 month low of $181.59 and a 12 month high of $242.93. The firm has a market capitalization of $6,837.67, a PE ratio of 468.69, a P/E/G ratio of 5.65 and a beta of 1.07. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.01.

The Ultimate Software Group (NASDAQ:ULTI) last announced its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.24. The Ultimate Software Group had a return on equity of 5.31% and a net margin of 1.59%. The company had revenue of $251.43 million during the quarter, compared to analysts’ expectations of $244.83 million. During the same quarter in the previous year, the firm earned $0.91 earnings per share. The business’s quarterly revenue was up 19.4% compared to the same quarter last year. equities analysts forecast that The Ultimate Software Group, Inc. will post 1.83 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of ULTI. Virtu KCG Holdings LLC acquired a new position in shares of The Ultimate Software Group during the 2nd quarter worth about $276,000. Stifel Financial Corp lifted its position in shares of The Ultimate Software Group by 22.1% during the 2nd quarter. Stifel Financial Corp now owns 9,868 shares of the technology company’s stock worth $2,073,000 after purchasing an additional 1,785 shares during the last quarter. Balyasny Asset Management LLC lifted its position in shares of The Ultimate Software Group by 0.6% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,668 shares of the technology company’s stock worth $350,000 after purchasing an additional 10 shares during the last quarter. State Street Corp lifted its position in shares of The Ultimate Software Group by 1.5% during the 2nd quarter. State Street Corp now owns 756,678 shares of the technology company’s stock worth $158,949,000 after purchasing an additional 11,076 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of The Ultimate Software Group by 1.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 43,615 shares of the technology company’s stock worth $9,161,000 after purchasing an additional 813 shares during the last quarter.

ULTI has been the topic of a number of recent research reports. Stifel Nicolaus boosted their target price on The Ultimate Software Group from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. Mizuho restated a “hold” rating and issued a $200.00 target price on shares of The Ultimate Software Group in a research note on Thursday, December 14th. BidaskClub upgraded The Ultimate Software Group from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. Canaccord Genuity boosted their target price on The Ultimate Software Group from $225.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. Finally, Zacks Investment Research downgraded The Ultimate Software Group from a “hold” rating to a “sell” rating in a research note on Thursday, October 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seventeen have assigned a buy rating to the stock. The Ultimate Software Group has a consensus rating of “Buy” and a consensus target price of $243.90.

ILLEGAL ACTIVITY WARNING: “Marc D. Scherr Sells 51,195 Shares of The Ultimate Software Group, Inc. (ULTI) Stock” was first reported by American Banking News and is owned by of American Banking News. If you are accessing this report on another publication, it was copied illegally and reposted in violation of United States & international copyright law. The legal version of this report can be viewed at https://www.americanbankingnews.com/2018/02/13/marc-d-scherr-sells-51195-shares-of-the-ultimate-software-group-inc-ulti-stock.html.

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.

Insider Buying and Selling by Quarter for The Ultimate Software Group (NASDAQ:ULTI)

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