Ultimate Software Ranked #8 on Forbes’ List of the 100 Most Innovative Growth Companies
Cloud-based payroll and human resources software provider Ultimate Software is ranked #8 on Forbes' list of the "100 Most Innovative Growth Companies."
Date: May 28, 2014 10:30 AM EDT
WESTON, Fla.--Ultimate Software (Nasdaq: ULTI), a leading cloud provider of people management solutions, announced today it has been ranked #8 on Forbes magazine’s 2014 list of the “Most Innovative Growth Companies.” Companies are ranked by their innovation premium: the difference between their market capitalization and a net present value of cash flows from current businesses.
Other companies named on the list include NetSuite, Concur Technologies, Kate Spade & Co, and Choice Hotels.
“We work hard to deliver innovation at every level of our company. It’s a part of our DNA,” said Scott Scherr, president, founder and CEO at Ultimate Software. “We are very proud to have ranked so highly on this important list of innovative growth companies, and this recognition validates our commitment to research and development alongside our consistent business results.”
Ultimate also extends congratulations to our customers that made the 2014 list of the Most Innovative Growth Companies, including 3D Systems, Seattle Genetics, Mednax, and Solera Holdings.
The list was compiled using Forbes' Innovation Premium, a calculation that first projects a company's income (cash flows, in this case) from existing businesses, plus anticipated growth from those businesses, and then looks at the net present value (NPV) of those cash flows. The NPV of cash flows from existing businesses is compared with a current market capitalization. Companies with a current market cap above the NPV of cash flows have an innovation premium built into their stock.
For more info on the selection process, visit www.forbes.com/sites/innovatorsdna/2014/.
To see the complete list, visit onforb.es/1qWtOxp.
About Ultimate Software
Ultimate Software is a leading cloud provider of people management solutions, with more than 15 million people records in the cloud. Built on the belief that people are the most important ingredient of any business, Ultimate’s award-winning UltiPro delivers HR, payroll, talent, compensation, and time and labor management solutions that seamlessly connect people with the information and resources they need to work more effectively. Founded in 1990, the company is headquartered in Weston, Florida, and has more than 2,000 professionals focused on developing the highest quality solutions and services. In 2014, Ultimate was ranked #20 on FORTUNE’s list of the 100 Best Companies to Work For as well as recognized as a ‘Leader’ in Nucleus Research’s HCM Technology Value Matrix 1H. In 2013, the company was awarded the highest rating by Constellation Research in its Cloud Buyer’s Bill of Rights Certification. Ultimate has 2,700 customers with employees in 150 countries, including Adobe Systems Incorporated, Bloomin’ Brands, Culligan International, Major League Baseball, Pep Boys, Texas Rangers Baseball, and Texas Roadhouse. 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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