|[May 18, 2017]
Ultimate Software Ranked #7 on Forbes List of 100 Most Innovative Growth Companies
Ultimate Software (Nasdaq: ULTI), a leading provider of human capital
management (HCM) solutions in the cloud, announced today it has been
ranked #7 on Forbes magazine's 2017 list of the 100 Most Innovative
Growth Companies. Recognized companies are ranked by their
Innovation Premium-the difference between their market capitalization
and the net present value (NPV) of cash flows from existing businesses.
Forbes' method relies on investors' ability to identify firms they
expect to be innovative now and in the future. To be included, firms
need at least seven years of public financial data and between $2
billion and $10 billion in market cap.
"We are honored to rank on Forbes' prestigious list for the fourth
consecutive year, recognizing our commitment to building better
technology and fostering increased business growth," said Scott Scherr,
CEO, president, and founder of Ultimate. "At Ultimate, we're 100%
focused on continuous innovation and we consistently invest in
developing our people, solutions, and services. Together, we design and
deliver innovative HCM software and personalized, collaborative support
that empowers companies to put their own people first and achieve
The Innovation Premium calculation first projects the cash flows a
company produces from its existing business without any growth and looks
at the NPV of those cash flows. Forbes then compares this base value of
the existing business with the company's current total Enterprise Value
(EV). Companies with an EV above their base values have an Innovation
Premium built into their stock values.
To see the complete list of Forbes magzine's 100 Most Innovative
Growth Companies for 2017, visit www.forbes.com/growth-companies/list/.
About Ultimate Software
Ultimate is a leading provider of cloud-based human capital management
solutions, with more than 33 million people records in the cloud.
Ultimate's award-winning UltiPro delivers HR, payroll, talent, and time
and labor management solutions that connect people with the information
they need to work more effectively. Founded in 1990, Ultimate is
headquartered in Weston, Florida, and employs more than 3,800
professionals. In 2017, Fortune ranked Ultimate #7 on its prestigious 100
Best Companies to Work For list, its sixth consecutive year ranked
in the top 25, and #1 on Fortune's list of the 10 Best Workplaces in
Technology for the second year in a row. Also in 2017, People
magazine ranked Ultimate #2 on its 50 Companies That Care list,
Brandon Hall Group honored Ultimate with its Gold Award in Technology,
and the National Customer Service Association named Ultimate the Service
Organization of the Year. Ultimate has more than 3,700 customers
with employees in 160 countries, including Bloomin' Brands, Culligan
International, Feeding America, Major League Baseball, Red Roof Inn,
SUBWAY, Texas Roadhouse, and Yamaha (News - Alert) Corporation of America. More
information on Ultimate's products and services for people management
can be found at www.ultimatesoftware.com.
UltiPro is a registered trademark of The Ultimate Software Group, Inc.
All other trademarks referenced are the property of their respective
Follow Ultimate Software on Twitter (News - Alert): www.twitter.com/UltimateHCM
and on LinkedIn (News - Alert): http://linkd.in/UltimateHCM
View source version on businesswire.com: http://www.businesswire.com/news/home/20170518005135/en/
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