Ultimate Software Opens New Offfice

Florida-based Ultimate Software (ULTI - Snapshot Report) recently announced that the company opened its new office in Santa Ana, CA.

The new office is expected to accommodate more than 100 Ultimate Software personnel which primarily consists of customer support, payment services and consulting services staff along with John Stauffer, vice president of payment services, and Ted Malley, vice president and general manager for regional services in the western U.S. In addition, the new office includes a 30-person training facility located for Ultimate Software’s west coast customers.

Management stated that the expanding presence in the west coast of the country continues to be key priority for the company as it grows its business.

Founded in 1990 and headquartered in Weston, Florida, Ultimate is a leading provider of unified human capital management (HCM) Software-as-a-Service (SaaS) solutions for global businesses.

Earlier, premier financial services and insurance company – Lincoln Financial Group selected the UltiPro solution from Ultimate Software. Lincoln, which has over $164 billion in assets, selected this solution for comprehensive people management through the convenience of Software as a Service (SaaS) and to better meet strategic business objectives.

Coyote Logistics LLC also selected UltiPro Workplace from Ultimate Software to manage the rapid growth of its workforce.  Coyote Logistics offers supply-chain solutions across North America and Europe. This includes truckload, intermodal, less-than-truckload, and ocean- and air-based services.

First Air, Canada’s foremost Arctic air carrier, also selected the UltiPro solution as its single HCM system of record to improve the quality and analysis of its employee data.

Meanwhile, second quarter results missed the Zacks Consensus Estimate by $0.03. We continue to have an Underperform recommendation on Ultimate Software. Our recommendation is supported by Zacks #4 Rank which tranlastes into a short-term rating of Sell. 

Read the full analyst report on ULTI