Ultimate Software Climbs Into the Cloud
Summary
In the human resources area, Ultimate Software Group ( NASDAQ:ULTI ) has worked hard on its cloud-based platform to simplify HR management for its clients, and its built a loyal customer base with its high-quality offerings.Ultimates retention rate for existing customers remained at 96%, indicating the loyalty that enterprise users have to its HR cloud platform.Ultimate also earned acclaim from Nucleus Research as a business leader for the fourth year running, with strong ratings for product functionality and usability.Ultimate Softwares shareholders appeared to like the companys overall results, and the stock gained almost 2% shortly after the opening of trading Wednesday morning following the Tuesday afternoon announcement.The desire of enterprise customers to build up their cloud computing capacity shows no signs of slackening, and with a well-renowned platform to help its clients manage their human resources needs, Ultimate Software is in a good position to find new growth opportunities for the foreseeable future.