Sumitomo Mitsui Asset Management Company LTD Sells 21,400 Shares of The Ultimate Software Group, Inc. (ULTI)

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Sumitomo Mitsui Asset Management Company LTD trimmed its stake in shares of The Ultimate Software Group, Inc. (NASDAQ:ULTI) by 50.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,953 shares of the technology company’s stock after selling 21,400 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in The Ultimate Software Group were worth $6,917,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of ULTI. Norges Bank acquired a new stake in The Ultimate Software Group during the 4th quarter worth approximately $58,132,000. Water Island Capital LLC acquired a new stake in The Ultimate Software Group during the 1st quarter worth approximately $65,677,000. IndexIQ Advisors LLC acquired a new stake in The Ultimate Software Group during the 1st quarter worth approximately $53,775,000. Gabelli Funds LLC acquired a new stake in The Ultimate Software Group during the 1st quarter worth approximately $45,723,000. Finally, Westfield Capital Management Co. LP lifted its position in The Ultimate Software Group by 80.7% during the 4th quarter. Westfield Capital Management Co. LP now owns 303,800 shares of the technology company’s stock worth $74,392,000 after acquiring an additional 135,633 shares during the period. 91.20% of the stock is owned by institutional investors.

Several research firms have recently commented on ULTI. Goldman Sachs Group began coverage on The Ultimate Software Group in a report on Friday, February 1st. They issued a “neutral” rating for the company. Jefferies Financial Group cut The Ultimate Software Group from a “buy” rating to a “hold” rating and set a $332.54 price target for the company. in a report on Tuesday, February 5th. SunTrust Banks cut The Ultimate Software Group from a “buy” rating to a “hold” rating and set a $332.93 price target for the company. in a report on Wednesday, February 20th. Credit Suisse Group cut The Ultimate Software Group from an “outperform” rating to a “neutral” rating in a report on Tuesday, February 5th. Finally, JPMorgan Chase & Co. cut The Ultimate Software Group from an “overweight” rating to a “neutral” rating in a report on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $317.11.

The Ultimate Software Group stock remained flat at $$331.36 during mid-day trading on Thursday. The firm has a market capitalization of $10.50 billion, a P/E ratio of 138.64, a P/E/G ratio of 6.51 and a beta of 1.29. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.02 and a quick ratio of 1.02. The Ultimate Software Group, Inc. has a 1-year low of $219.97 and a 1-year high of $365.86.

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The Ultimate Software Group Profile

The Ultimate Software Group, Inc provides cloud-based human capital management solutions to enterprise companies, mid-market companies, and companies in the strategic market in the United States, Canada, Europe, the Asia Pacific, and internationally. Its UltiPro software solution delivers the functionality businesses need 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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