Rating:
Hold ULTI
56.86 %
Ultimate Software Group, Inc. (ULTI) downgraded to Hold by Needham
Posted on: Wednesday, Oct 29, 2008 9:25 AM ET by Needham
Needham rated Hold The Ultimate Software Group Inc. (NASDAQ: ULTI) on 10/29/2008. Previously Needham rated Buy The Ultimate Software Group Inc. (NASDAQ: ULTI)
on 07/30/2008., when the stock price was $24.85. Since then, The Ultimate Software Group Inc. has lost 56.86% as of 10/29/2008's recent price of $10.72. If you would have followed the previous Needham's recommendation on ULTI, you would have lost 56.86% of your investment in 91 days.
Ultimate Software is a leader in delivering Web-based payroll and employee management solutions to organizations of all sizes. Ultimate Software's fully integrated, award-winning UltiPro suite enables businesses to manage human resources and payroll strategically and cost-effectively, benefiting everyone in the organization. Ultimate Software offers application hosting through IBM Global Services and a business-to-business Web portal, providing access to value-added resources via the Internet.
Needham & Company, LLC focuses on emerging growth companies in technology, biotechnology and life sciences. The firm's research goal is to service the needs of growth-oriented institutional clients.
Needham & Company has established itself as a premier specialty investment bank providing timely and valuable analysis on companies that are under-covered by the majority of Wall Street firms.