Intrinsic value of Ultimate Software Group - ULTI

Previous Close

$251.21

  Intrinsic Value

$139.07

stock screener

  Rating & Target

sell

-45%

Previous close

$251.21

 
Intrinsic value

$139.07

 
Up/down potential

-45%

 
Rating

sell

We calculate the intrinsic value of ULTI stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 7.8

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  20.70
  19.13
  17.72
  16.45
  15.30
  14.27
  13.34
  12.51
  11.76
  11.08
  10.47
  9.93
  9.43
  8.99
  8.59
  8.23
  7.91
  7.62
  7.36
  7.12
  6.91
  6.72
  6.55
  6.39
  6.25
  6.13
  6.01
  5.91
  5.82
  5.74
Revenue, $m
  1,135
  1,353
  1,592
  1,854
  2,138
  2,443
  2,769
  3,115
  3,482
  3,868
  4,273
  4,697
  5,140
  5,602
  6,083
  6,584
  7,105
  7,646
  8,209
  8,793
  9,401
  10,032
  10,689
  11,372
  12,083
  12,823
  13,595
  14,398
  15,237
  16,111
Variable operating expenses, $m
  1,074
  1,279
  1,504
  1,750
  2,017
  2,304
  2,611
  2,937
  3,282
  3,645
  4,020
  4,420
  4,836
  5,271
  5,724
  6,195
  6,685
  7,195
  7,724
  8,274
  8,846
  9,440
  10,058
  10,701
  11,370
  12,066
  12,792
  13,549
  14,337
  15,160
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  1,074
  1,279
  1,504
  1,750
  2,017
  2,304
  2,611
  2,937
  3,282
  3,645
  4,020
  4,420
  4,836
  5,271
  5,724
  6,195
  6,685
  7,195
  7,724
  8,274
  8,846
  9,440
  10,058
  10,701
  11,370
  12,066
  12,792
  13,549
  14,337
  15,160
Operating income, $m
  61
  74
  88
  104
  121
  139
  158
  178
  200
  223
  252
  277
  303
  331
  359
  389
  419
  451
  485
  519
  555
  592
  631
  671
  713
  757
  802
  850
  899
  951
EBITDA, $m
  104
  124
  146
  170
  195
  223
  253
  285
  318
  354
  391
  429
  470
  512
  556
  602
  650
  699
  751
  804
  859
  917
  977
  1,040
  1,105
  1,172
  1,243
  1,316
  1,393
  1,473
Interest expense (income), $m
  0
  1
  16
  33
  52
  73
  95
  119
  145
  172
  201
  231
  263
  296
  331
  367
  405
  444
  485
  528
  572
  618
  666
  715
  767
  820
  876
  935
  995
  1,058
  1,124
Earnings before tax, $m
  60
  58
  55
  52
  48
  44
  39
  34
  28
  22
  21
  15
  7
  0
  -8
  -16
  -25
  -34
  -43
  -53
  -63
  -73
  -84
  -96
  -107
  -119
  -132
  -145
  -159
  -173
Tax expense, $m
  16
  16
  15
  14
  13
  12
  10
  9
  8
  6
  6
  4
  2
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  44
  42
  40
  38
  35
  32
  28
  25
  21
  16
  16
  11
  5
  0
  -8
  -16
  -25
  -34
  -43
  -53
  -63
  -73
  -84
  -96
  -107
  -119
  -132
  -145
  -159
  -173

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,662
  1,980
  2,331
  2,715
  3,130
  3,577
  4,054
  4,561
  5,098
  5,663
  6,256
  6,877
  7,525
  8,202
  8,907
  9,640
  10,402
  11,195
  12,018
  12,874
  13,764
  14,688
  15,650
  16,650
  17,691
  18,775
  19,904
  21,081
  22,308
  23,589
Adjusted assets (=assets-cash), $m
  1,662
  1,980
  2,331
  2,715
  3,130
  3,577
  4,054
  4,561
  5,098
  5,663
  6,256
  6,877
  7,525
  8,202
  8,907
  9,640
  10,402
  11,195
  12,018
  12,874
  13,764
  14,688
  15,650
  16,650
  17,691
  18,775
  19,904
  21,081
  22,308
  23,589
Revenue / Adjusted assets
  0.683
  0.683
  0.683
  0.683
  0.683
  0.683
  0.683
  0.683
  0.683
  0.683
  0.683
  0.683
  0.683
  0.683
  0.683
  0.683
  0.683
  0.683
  0.683
  0.683
  0.683
  0.683
  0.683
  0.683
  0.683
  0.683
  0.683
  0.683
  0.683
  0.683
Average production assets, $m
  291
  346
  408
  475
  547
  625
  709
  798
  891
  990
  1,094
  1,202
  1,316
  1,434
  1,557
  1,686
  1,819
  1,957
  2,101
  2,251
  2,407
  2,568
  2,736
  2,911
  3,093
  3,283
  3,480
  3,686
  3,901
  4,124
Working capital, $m
  -694
  -826
  -973
  -1,133
  -1,306
  -1,493
  -1,692
  -1,903
  -2,127
  -2,363
  -2,611
  -2,870
  -3,140
  -3,423
  -3,717
  -4,023
  -4,341
  -4,672
  -5,015
  -5,373
  -5,744
  -6,130
  -6,531
  -6,948
  -7,383
  -7,835
  -8,306
  -8,797
  -9,310
  -9,844
Total debt, $m
  188
  387
  606
  845
  1,104
  1,383
  1,681
  1,997
  2,332
  2,684
  3,054
  3,442
  3,847
  4,269
  4,709
  5,166
  5,642
  6,136
  6,650
  7,184
  7,739
  8,316
  8,916
  9,540
  10,190
  10,866
  11,571
  12,305
  13,071
  13,870
Total liabilities, $m
  1,037
  1,236
  1,455
  1,694
  1,953
  2,232
  2,530
  2,846
  3,181
  3,533
  3,904
  4,291
  4,696
  5,118
  5,558
  6,015
  6,491
  6,986
  7,499
  8,033
  8,589
  9,165
  9,765
  10,390
  11,039
  11,716
  12,420
  13,155
  13,920
  14,719
Total equity, $m
  625
  745
  877
  1,021
  1,177
  1,345
  1,524
  1,715
  1,917
  2,129
  2,352
  2,586
  2,830
  3,084
  3,349
  3,625
  3,911
  4,209
  4,519
  4,841
  5,175
  5,523
  5,884
  6,260
  6,652
  7,059
  7,484
  7,926
  8,388
  8,869
Total liabilities and equity, $m
  1,662
  1,981
  2,332
  2,715
  3,130
  3,577
  4,054
  4,561
  5,098
  5,662
  6,256
  6,877
  7,526
  8,202
  8,907
  9,640
  10,402
  11,195
  12,018
  12,874
  13,764
  14,688
  15,649
  16,650
  17,691
  18,775
  19,904
  21,081
  22,308
  23,588
Debt-to-equity ratio
  0.300
  0.520
  0.690
  0.830
  0.940
  1.030
  1.100
  1.160
  1.220
  1.260
  1.300
  1.330
  1.360
  1.380
  1.410
  1.430
  1.440
  1.460
  1.470
  1.480
  1.500
  1.510
  1.520
  1.520
  1.530
  1.540
  1.550
  1.550
  1.560
  1.560
Adjusted equity ratio
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  44
  42
  40
  38
  35
  32
  28
  25
  21
  16
  16
  11
  5
  0
  -8
  -16
  -25
  -34
  -43
  -53
  -63
  -73
  -84
  -96
  -107
  -119
  -132
  -145
  -159
  -173
Depreciation, amort., depletion, $m
  42
  50
  57
  66
  75
  85
  95
  107
  118
  131
  138
  152
  167
  182
  197
  213
  230
  248
  266
  285
  305
  325
  346
  369
  392
  416
  441
  467
  494
  522
Funds from operations, $m
  87
  92
  97
  103
  110
  117
  124
  131
  139
  147
  154
  163
  172
  181
  189
  197
  205
  214
  223
  232
  242
  252
  262
  273
  284
  296
  308
  321
  335
  349
Change in working capital, $m
  -119
  -133
  -146
  -160
  -173
  -186
  -199
  -212
  -224
  -236
  -248
  -259
  -271
  -282
  -294
  -306
  -318
  -331
  -344
  -357
  -371
  -386
  -401
  -417
  -434
  -452
  -471
  -491
  -512
  -534
Cash from operations, $m
  206
  225
  244
  263
  283
  303
  323
  343
  363
  383
  402
  422
  443
  464
  483
  503
  523
  545
  566
  589
  613
  638
  663
  690
  719
  748
  780
  812
  847
  883
Maintenance CAPEX, $m
  -30
  -37
  -44
  -52
  -60
  -69
  -79
  -90
  -101
  -113
  -125
  -138
  -152
  -167
  -182
  -197
  -213
  -230
  -248
  -266
  -285
  -305
  -325
  -346
  -369
  -392
  -416
  -441
  -467
  -494
New CAPEX, $m
  -50
  -56
  -61
  -67
  -73
  -78
  -83
  -89
  -94
  -99
  -104
  -109
  -113
  -118
  -123
  -128
  -133
  -139
  -144
  -150
  -156
  -162
  -168
  -175
  -182
  -190
  -197
  -206
  -215
  -224
Cash from investing activities, $m
  -80
  -93
  -105
  -119
  -133
  -147
  -162
  -179
  -195
  -212
  -229
  -247
  -265
  -285
  -305
  -325
  -346
  -369
  -392
  -416
  -441
  -467
  -493
  -521
  -551
  -582
  -613
  -647
  -682
  -718
Free cash flow, $m
  125
  132
  139
  145
  151
  156
  160
  164
  168
  171
  173
  175
  177
  179
  178
  178
  177
  176
  175
  174
  172
  171
  170
  169
  168
  167
  167
  166
  166
  166
Issuance/(repayment) of debt, $m
  178
  198
  219
  239
  259
  279
  298
  316
  335
  353
  370
  387
  405
  422
  440
  458
  476
  495
  514
  534
  555
  577
  600
  624
  650
  676
  705
  734
  766
  799
Issuance/(repurchase) of shares, $m
  63
  77
  92
  106
  121
  136
  151
  166
  181
  196
  207
  223
  239
  255
  273
  292
  312
  332
  353
  375
  397
  421
  446
  472
  499
  527
  557
  588
  620
  655
Cash from financing (excl. dividends), $m  
  241
  275
  311
  345
  380
  415
  449
  482
  516
  549
  577
  610
  644
  677
  713
  750
  788
  827
  867
  909
  952
  998
  1,046
  1,096
  1,149
  1,203
  1,262
  1,322
  1,386
  1,454
Total cash flow (excl. dividends), $m
  366
  408
  449
  491
  531
  571
  609
  647
  684
  720
  750
  785
  820
  856
  891
  927
  964
  1,002
  1,041
  1,082
  1,125
  1,169
  1,216
  1,265
  1,316
  1,371
  1,428
  1,488
  1,552
  1,619
Retained Cash Flow (-), $m
  -107
  -120
  -132
  -144
  -156
  -168
  -179
  -191
  -202
  -212
  -223
  -233
  -244
  -255
  -273
  -292
  -312
  -332
  -353
  -375
  -397
  -421
  -446
  -472
  -499
  -527
  -557
  -588
  -620
  -655
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  259
  288
  317
  346
  375
  403
  430
  456
  482
  508
  527
  552
  576
  601
  618
  635
  653
  670
  689
  708
  727
  748
  770
  793
  818
  844
  871
  901
  932
  965
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  248
  264
  276
  285
  290
  292
  290
  285
  277
  266
  250
  235
  219
  202
  181
  161
  142
  123
  106
  90
  75
  62
  50
  40
  32
  25
  19
  14
  10
  7
Current shareholders' claim on cash, %
  98.8
  97.6
  96.4
  95.3
  94.1
  93.1
  92.0
  91.0
  90.1
  89.2
  88.3
  87.5
  86.7
  85.9
  85.2
  84.4
  83.7
  83.0
  82.3
  81.6
  81.0
  80.3
  79.7
  79.0
  78.4
  77.8
  77.2
  76.6
  76.0
  75.4

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. The solution is delivered through software-as-a-service (SaaS) to organizations based in the United States and Canada, including those with global workforces. The UltiPro 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.

FINANCIAL RATIOS  of  Ultimate Software Group (ULTI)

Valuation Ratios
P/E Ratio 245.8
Price to Sales 9.4
Price to Book 17.1
Price to Tangible Book
Price to Cash Flow 46.1
Price to Free Cash Flow 81
Growth Rates
Sales Growth Rate 26.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 35.3%
Cap. Spend. - 3 Yr. Gr. Rate 18.1%
Financial Strength
Quick Ratio 18
Current Ratio 0
LT Debt to Equity 0.9%
Total Debt to Equity 2.1%
Interest Coverage 0
Management Effectiveness
Return On Assets 2.3%
Ret/ On Assets - 3 Yr. Avg. 3%
Return On Total Capital 7.7%
Ret/ On T. Cap. - 3 Yr. Avg. 11.3%
Return On Equity 7.8%
Return On Equity - 3 Yr. Avg. 11.7%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 61.6%
Gross Margin - 3 Yr. Avg. 60.9%
EBITDA Margin 8.7%
EBITDA Margin - 3 Yr. Avg. 11.2%
Operating Margin 5.2%
Oper. Margin - 3 Yr. Avg. 7.6%
Pre-Tax Margin 5.2%
Pre-Tax Margin - 3 Yr. Avg. 7.6%
Net Profit Margin 3.8%
Net Profit Margin - 3 Yr. Avg. 5.5%
Effective Tax Rate 26.8%
Eff/ Tax Rate - 3 Yr. Avg. 30%
Payout Ratio 0%

ULTI stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ULTI stock intrinsic value calculation we used $940.729 million for the last fiscal year's total revenue generated by Ultimate Software Group. The default revenue input number comes from 0001 income statement of Ultimate Software Group. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our ULTI stock valuation model: a) initial revenue growth rate of 20.7% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for ULTI is calculated based on our internal credit rating of Ultimate Software Group, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Ultimate Software Group.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of ULTI stock the variable cost ratio is equal to 94.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for ULTI stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 8.6% for Ultimate Software Group.

Corporate tax rate of 27% is the nominal tax rate for Ultimate Software Group. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the ULTI stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for ULTI are equal to 25.6%.

Life of production assets of 7.9 years is the average useful life of capital assets used in Ultimate Software Group operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for ULTI is equal to -61.1%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $518.025 million for Ultimate Software Group - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 31.2 million for Ultimate Software Group is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Ultimate Software Group at the current share price and the inputted number of shares is $7.8 billion.

RELATED COMPANIES Price Int.Val. Rating
PCTY Paylocity Hold 64.80 93.70  buy
PAYC Paycom Softwar 134.59 165.39  hold
WDAY Workday 165.52 122.79  hold
ORCL Oracle 47.32 34.20  sell
CSOD Cornerstone On 54.00 13.54  str.sell
MSFT Microsoft 109.08 189.75  str.buy
IBM International 121.16 191.80  buy
PAYX Paychex 68.12 66.15  hold

COMPANY NEWS

▶ Ultimate Software- Investing in Human Capital   [Dec-14-18 05:00AM  MoneyShow]
▶ Ultimate Software Climbs Into the Cloud   [Oct-31-18 10:47AM  Motley Fool]
▶ Ultimate Software: 3Q Earnings Snapshot   [04:13PM  Associated Press]
▶ Ultimate Reports Q3 2018 Financial Results   [04:00PM  Business Wire]
▶ IBD Stock Of The Day: Ceridian Aims To Make Work Life A Better Place   [Sep-13-18 02:55PM  Investor's Business Daily]
▶ Solid Growth Keeps Lifting Ultimate Software   [Aug-03-18 04:57PM  Motley Fool]
▶ Zendesk Stock Pops On Revenue Beat, Raises Full-Year Sales Guidance   [Jul-31-18 06:00PM  Investor's Business Daily]
▶ Ultimate Software: 2Q Earnings Snapshot   [04:18PM  Associated Press]
▶ [$$] Ultimate Software to Acquire PeopleDoc for $300 Million   [Jul-17-18 05:09PM  The Wall Street Journal]
▶ Ultimate Software enters $300M deal to acquire Paris-based startup   [09:16AM  American City Business Journals]
▶ Breakout Watch: No. 1-Ranked Software Stock Salesforce Enters Buy Zone   [May-09-18 04:21PM  Investor's Business Daily]
▶ Ultimate Software to promote Alvaro to CFO   [May-01-18 05:12PM  American City Business Journals]
▶ Ultimate Software: 1Q Earnings Snapshot   [04:24PM  Associated Press]
▶ Ultimate Reports Q1 2018 Financial Results   [04:00PM  Business Wire]
▶ Ultimate Announces CFO Succession Plan:   [03:59PM  Business Wire]
▶ High Growth Stocks To Invest In   [Apr-17-18 12:02PM  Simply Wall St.]
▶ [$$] What's on Your Mind? Bosses Are Using AI to Find Out   [Mar-28-18 11:48AM  The Wall Street Journal]
▶ Ultimate Software VP of HR Wins Excellence Award   [Mar-22-18 12:06PM  Business Wire]
▶ Red Hat Downgraded, Price Targets Hiked On Salesforce, ServiceNow   [Mar-12-18 04:47PM  Investor's Business Daily]

CONTACT US       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2018. All rigths reserved.