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ULTI

Ultimate Software

$272.21

-1.87 (-0.68%)

16:04
10/30/18
10/30
16:04
10/30/18
16:04

Ultimate Software sees Q4 revenue $300M, consensus $302.71M

Sees Q4 Recurring revenues of approximately $262M to $264M, Sees operating margin approximately 21%.

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    Nov

ULTI Ultimate Software
$272.21

-1.87 (-0.68%)

10/10/18
JEFF
10/10/18
NO CHANGE
Target $370
JEFF
Buy
Ultimate Software 2017 financials show 100% growth for PeopleDoc, says Jefferies
Jefferies analyst Samad Samana kept his Buy rating and $370 price target on Ultimate Software after the company put out its 8-K/A filing after the close today offering more detail into its 2017 financials. The analyst says his most important takeaway from the filing is that the PeopleDoc business was on track to grow its revenue by 100% this year as a stand-alone company, adding that the Street consensus expectations since Q2 results do not adequately reflect its actual growth. Samana further states that the conservative guidance "implies no growth despite what we now know was a business on track to grow about 100%, assumes no cross-selling benefit, and fails to account for the deflationary impact to the second half estimate from the write-down of deferred revenue", which he expects to be a positive tailwind.
10/01/18
JEFF
10/01/18
INITIATION
Target $370
JEFF
Buy
Ultimate Software initiated with a Buy at Jefferies
Jefferies analyst Samad Samana initiated Ultimate Software (ULTI) with a Buy rating and $370 price target, stating that he believes multiple macro trends should benefit the group as a whole, He also believes payroll has evolved in favor using SaaS solutions and he favors the SaaS payroll and HR software vendors over the traditional service bureaus. The analyst also started coverage of ADP (ADP), Paychex (PAYX) and Paylocity (PCTY), all with Hold ratings.
09/17/18
NEED
09/17/18
NO CHANGE
Target $370
NEED
Buy
Ultimate Software price target raised to $370 from $310 at Needham
Needham analyst Scott Berg raised his price target on Ultimate Software to $370 and kept his Buy rating after meeting with its CTO Adam Rogers at the HR Tech Conference. The analyst says the conversation increased his confidence in the company's product strategy and its competitive position, especially the "positive impact of the somewhat new payroll engine that now has several proof points up market". Berg expects the platform ability to "process larger employee populations" to further drive Ultimate Software's recent success in the large enterprise market.
09/11/18
WBLR
09/11/18
NO CHANGE
WBLR
HR service delivery market is accelerating, says William Blair
William Blair analyst Justin Furby spent time researching the human resource service delivery sector and believes the market "remains in the early innings of adoption." Spending on HR service delivery applications has significant growth potential over the next several years, Furby tells investors in a research note. He thinks that over the last 9 to 12 months, there appears to be a "clear acceleration" in activity levels in the HR service delivery market. He estimates the annual HR service delivery application opportunity is $1.4B in the U.S. and $2B-$3B globally. Both ServiceNow (NOW) and Ultimate Software (ULTI) appear well positioned to participate in the growth of HR service delivery applications, and though competitive dynamics "are likely to heat up over time," the market can support more than one growth story, contends Furby. Further, he expects expect Workday (WDAY) "to enter the discussion over time." The analyst has Outperform ratings on all three names.

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