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Fly News Breaks for March 14, 2018
ULTI
Mar 14, 2018 | 07:08 EDT
As previously reported, Wedbush analyst Steve Koenig downgraded Ultimate Software to Neutral from Outperform, while raising his price target on the stock to $255 from $234. The analyst says the shares are appropriately benefiting from strong execution in a healthy demand environment, supported by the company's product and market leadership in North American payroll and mid-market HCM. However, Ultimate Software's investments in product and operations are growing, and are likely to keep free cash flow margin from expanding beyond the current level in the near-term.
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