Nomura Securities Starts Ultimate Software (ULTI) at Neutral

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Nomura Securities initiates coverage on Ultimate Software (NASDAQ: ULTI) with a Neutral. PT $96.00.

Analyst Frederick Grieb cited: : (1) Ultimate is anchored to the highly penetrated core HCM portion of the HCM market, (2) competition in the space continues to increase, and (3) our estimates are in line with the Street, with limited prospects of significant upside to expectations.

For an analyst ratings summary and ratings history on Ultimate Software click here. For more ratings news on Ultimate Software click here.

Shares of Ultimate Software closed at $93.84 yesterday, with a 52 week range of $43.28-$99.09.

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