Ultimate Software (NASDAQ: ULTI) is a corporation that designs, markets, implements, and supports human resources (HR), payroll, and talent management software primarily in North America with the ability to track employees in more than 100 countries. In 2009, Ultimate had $196.6 million in revenues and approximately 2,200 customers. Its headquarters are in Weston, Florida and its primary product is UltiPro.
The Ultimate Software Group, Inc. (Ultimate) designs, markets, implements and supports human resources (HR), payroll and talent management solutions principally in the United States and Canada. Ultimate’s UltiPro software (UltiPro) is an Internet-based solution delivered primarily as an online service and designed to deliver the functionality businesses need to manage the employment life cycle, including recruitment and retirement. The solution includes feature sets for talent acquisition and on boarding, HR management and compliance, benefits management and online enrollment, payroll, performance management, learning management, salary planning and budgeting for compensation management, reporting and analytical decision-making tools, time and attendance, and a self-service Web portal for executives, managers, administrators, and employees.
The Company’s UltiPro enables its customers to analyze workforce trends, find critical information and perform routine business activities. UltiPro is available as two solution suites based on company size. UltiPro Enterprise (Enterprise) was developed for companies (companies with 1,000 or more employees) and is delivered either through software-as-a-service (SaaS) or an on-premise solution. UltiPro Workplace (Workplace) was designed for companies in the mid-market (companies with under 1,000 employees) and is delivered, through SaaS. Its SaaS offering of UltiPro, branded Intersourcing (the Intersourcing Offering), provides online access to human capital management functionality. Through the Intersourcing Offering, Ultimate supplies and manages the hardware, infrastructure, ongoing maintenance and backup services for its customers. The Company provides implementation and training services to its customers, as well as support services.
UltiPro includes a Web workforce portal that enables functionality for everyone in the organization. UltiPro’s functionality includes a Web portal, human resources management, benefits administration, payroll administration, manager self-service, employee self-service, system administration tools and enterprise integration tools. UltiPro tracks HR-related information, including employment history, performance, job and salary information, career development, and health and wellness programs. In addition, UltiPro enables the recording and tracking of information for government compliance and reporting. UltiPro also allows customers to track HR information of employees working outside the United States and Canada, enabling consolidation of global HR/employee information into one central system for HR reporting and analytics by individual country or the entire company as a whole.
The Company’s UltiPro allows companies to match all of the health, welfare, dental, vision, and other benefits that their organizations offer employees, and to set up and administer benefit plans and employee and employer contributions, and it enables employees to check benefit options and coverage from the UltiPro portal. UltiPro also allows companies to maintain and administer paid time off benefits, such as vacation (including calculating benefit accrual amounts), track leave time taken, and facilitate the response to employee leave requests. Authorized managers have self-service access to staff information, such as salary, compensation history, key dates and emergency contacts, with reporting and workforce analysis tools. A customer’s managers can view and update staff information, manage department activities, post job openings, leverage recruiting and hiring tools, and perform queries on workforce data.
Its UltiPro Employee Self-Service gives a customer’s employees access to view their own paycheck details and benefits summaries, frequently used forms and company information. They can also update personal information, such as address, phone number, emergency contacts and skills; change preferences, such as direct deposit accounts and benefits selections; make routine requests, such as asking for vacation time, and enroll in training. UltiPro Business Intelligence gives users the ability to pull data across the UltiPro solution, including human resources, payroll, benefits administration and enrollment, compensation, talent acquisition and development, compensation, compliance, year-end data, and and enables them to create, modify, and distribute workforce-related reports and notifications.
UltiPro includes system administration tools, such as configuration options, role-based security, built-in conditional workflow, business rules, and a content management tool. Built-in conditional workflow enables users to authorize HR/payroll staff, managers, or supervisors to make updates on the Web, through more than 125 pre-defined workflow processes to expedite business activities, such as hiring an employee or inputting a salary increase. The customer’s own company branding. Enterprise Integration Tools are also included to provide the ability to interface with third-party applications and providers, such as general ledger, tax filing services, time clocks, banks, 401(k) and benefits providers, check printing services and unemployment management services.
The Company competes with Automatic Data Processing Inc., Ceridian, PeopleSoft/Oracle, Lawson, Kronos and Workday.
Ultimate was founded in 1990 by Scott Scherr, the company’s current CEO and President. The company went public in June 1998 and today employs more than 1,100 professionals.
Ultimate Software markets two software suites, primarily through direct sales teams. UltiPro Enterprise is designed for companies with 1,000 or more employees while UltiPro Workplace is tailored for businesses with 200-999 employees.
Ultimate Software was an early adopter of Agile Development Methodologies. Starting with Scrum in March 2005, they have since migrated to Kanban in January 2010. Along the way, Ultimate Software has adopted several engineering practices such as test-driven development.
OVERALL
Beta: 1.33
Market Cap (Mil.): $1,465.58
Shares Outstanding (Mil.): 25.84
Annual Dividend: --
Yield (%): --
FINANCIALS
ULTI.O Industry Sector
P/E (TTM): 510.85 32.35 21.01
EPS (TTM): 1,572.55 -- --
ROI: 3.64 10.09 16.02
ROE: 4.30 13.11 17.63
Name Age Since Current Position
Scott Scherr 58 1996 Chairman of the Board, President, Chief Executive Officer
Marc Scherr 53 2003 Vice Chairman of the Board, Chief Operating Officer
Mitchell Dauerman 54 1998 Chief Financial Officer, Executive Vice President, Treasurer
LeRoy Vander Putten 76 1997 Independent Director
Robert Yanover 74 1997 Independent Director
Rick Wilber 64 2002 Independent Director
James FitzPatrick 60 2000 Independent Director
Alois Leiter 45 2006 Independent Director
COMPANY ADDRESS
Ultimate Software Group Inc
2000 Ultimate Way
Weston FL 33326
The Ultimate Software Group, Inc. (Ultimate) designs, markets, implements and supports human resources (HR), payroll and talent management solutions principally in the United States and Canada. Ultimate’s UltiPro software (UltiPro) is an Internet-based solution delivered primarily as an online service and designed to deliver the functionality businesses need to manage the employment life cycle, including recruitment and retirement. The solution includes feature sets for talent acquisition and on boarding, HR management and compliance, benefits management and online enrollment, payroll, performance management, learning management, salary planning and budgeting for compensation management, reporting and analytical decision-making tools, time and attendance, and a self-service Web portal for executives, managers, administrators, and employees.
The Company’s UltiPro enables its customers to analyze workforce trends, find critical information and perform routine business activities. UltiPro is available as two solution suites based on company size. UltiPro Enterprise (Enterprise) was developed for companies (companies with 1,000 or more employees) and is delivered either through software-as-a-service (SaaS) or an on-premise solution. UltiPro Workplace (Workplace) was designed for companies in the mid-market (companies with under 1,000 employees) and is delivered, through SaaS. Its SaaS offering of UltiPro, branded Intersourcing (the Intersourcing Offering), provides online access to human capital management functionality. Through the Intersourcing Offering, Ultimate supplies and manages the hardware, infrastructure, ongoing maintenance and backup services for its customers. The Company provides implementation and training services to its customers, as well as support services.
UltiPro includes a Web workforce portal that enables functionality for everyone in the organization. UltiPro’s functionality includes a Web portal, human resources management, benefits administration, payroll administration, manager self-service, employee self-service, system administration tools and enterprise integration tools. UltiPro tracks HR-related information, including employment history, performance, job and salary information, career development, and health and wellness programs. In addition, UltiPro enables the recording and tracking of information for government compliance and reporting. UltiPro also allows customers to track HR information of employees working outside the United States and Canada, enabling consolidation of global HR/employee information into one central system for HR reporting and analytics by individual country or the entire company as a whole.
The Company’s UltiPro allows companies to match all of the health, welfare, dental, vision, and other benefits that their organizations offer employees, and to set up and administer benefit plans and employee and employer contributions, and it enables employees to check benefit options and coverage from the UltiPro portal. UltiPro also allows companies to maintain and administer paid time off benefits, such as vacation (including calculating benefit accrual amounts), track leave time taken, and facilitate the response to employee leave requests. Authorized managers have self-service access to staff information, such as salary, compensation history, key dates and emergency contacts, with reporting and workforce analysis tools. A customer’s managers can view and update staff information, manage department activities, post job openings, leverage recruiting and hiring tools, and perform queries on workforce data.
Its UltiPro Employee Self-Service gives a customer’s employees access to view their own paycheck details and benefits summaries, frequently used forms and company information. They can also update personal information, such as address, phone number, emergency contacts and skills; change preferences, such as direct deposit accounts and benefits selections; make routine requests, such as asking for vacation time, and enroll in training. UltiPro Business Intelligence gives users the ability to pull data across the UltiPro solution, including human resources, payroll, benefits administration and enrollment, compensation, talent acquisition and development, compensation, compliance, year-end data, and and enables them to create, modify, and distribute workforce-related reports and notifications.
UltiPro includes system administration tools, such as configuration options, role-based security, built-in conditional workflow, business rules, and a content management tool. Built-in conditional workflow enables users to authorize HR/payroll staff, managers, or supervisors to make updates on the Web, through more than 125 pre-defined workflow processes to expedite business activities, such as hiring an employee or inputting a salary increase. The customer’s own company branding. Enterprise Integration Tools are also included to provide the ability to interface with third-party applications and providers, such as general ledger, tax filing services, time clocks, banks, 401(k) and benefits providers, check printing services and unemployment management services.
The Company competes with Automatic Data Processing Inc., Ceridian, PeopleSoft/Oracle, Lawson, Kronos and Workday.
Ultimate was founded in 1990 by Scott Scherr, the company’s current CEO and President. The company went public in June 1998 and today employs more than 1,100 professionals.
Ultimate Software markets two software suites, primarily through direct sales teams. UltiPro Enterprise is designed for companies with 1,000 or more employees while UltiPro Workplace is tailored for businesses with 200-999 employees.
Ultimate Software was an early adopter of Agile Development Methodologies. Starting with Scrum in March 2005, they have since migrated to Kanban in January 2010. Along the way, Ultimate Software has adopted several engineering practices such as test-driven development.
OVERALL
Beta: 1.33
Market Cap (Mil.): $1,465.58
Shares Outstanding (Mil.): 25.84
Annual Dividend: --
Yield (%): --
FINANCIALS
ULTI.O Industry Sector
P/E (TTM): 510.85 32.35 21.01
EPS (TTM): 1,572.55 -- --
ROI: 3.64 10.09 16.02
ROE: 4.30 13.11 17.63
Name Age Since Current Position
Scott Scherr 58 1996 Chairman of the Board, President, Chief Executive Officer
Marc Scherr 53 2003 Vice Chairman of the Board, Chief Operating Officer
Mitchell Dauerman 54 1998 Chief Financial Officer, Executive Vice President, Treasurer
LeRoy Vander Putten 76 1997 Independent Director
Robert Yanover 74 1997 Independent Director
Rick Wilber 64 2002 Independent Director
James FitzPatrick 60 2000 Independent Director
Alois Leiter 45 2006 Independent Director
COMPANY ADDRESS
Ultimate Software Group Inc
2000 Ultimate Way
Weston FL 33326