Ultimate Software Ranked #8 on Forbes List of 100 Most Innovative Growth Companies
Date: June 23, 2016 2:00 PM EDT
Ultimate Software (Nasdaq: ULTI), a leading provider of human capital management (HCM) solutions in the cloud, announced today that it has been ranked #8 on Forbes magazine's 2016 list of the "Most Innovative Growth Companies." 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 needed seven years of public financial data and between $2-10 billion in market cap.
"For more than 25 years, Ultimate has delivered innovative, industry-leading HCM technology, driven by a 'People First' culture that fuels new ideas and continuous evolution," said Scott Scherr, CEO, president, and founder of Ultimate. "We are honored to rank so highly for the third consecutive year on Forbes' prestigious list. We remain focused on innovation and growth, consistently investing approximately 20% of our annual revenue in research and development and are committed to creating a culture that encourages new ideas."
Forbes 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 compares this base value of the existing business with the company's current total Enterprise Value (EV). Companies with an EV above their base value have an innovation premium built into their stock price.
About Ultimate Software
Ultimate is a leading provider of cloud-based human capital management (HCM) solutions, with more than 25 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, the company is headquartered in Weston, Florida, and employs more than 3,000 professionals. In 2016, Fortune ranked Ultimate #1 on its list of 10 Best Large Workplaces in Technology and #15 on Fortune’s 100 Best Companies to Work For list, the fifth consecutive year to be ranked in the top 25. In 2015, Ultimate was recognized by Fortune as one of the 100 Fastest-Growing Companies; ranked #7 on Forbes magazine’s list of the 100 Most Innovative Growth Companies; named among InformationWeek’s Elite 100, honoring innovation in business technology; and recognized as a “Leader” in Nucleus Research’s HCM Technology Value Matrix. Ultimate has approximately 3,200 customers with employees in 160 countries, including Bloomin’ Brands, Culligan International, Feeding America, Major League Baseball, Pep Boys, SUBWAY, Texas Roadhouse, and Yamaha 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 owners.
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Darlene Marcroft, Vice President of PR and Communications at Ultimate Software
phone: 954-331-7444; email: email@example.com
For sales information, phone: 800-432-1729; website: www.ultimatesoftware.com