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ULTI on NASDAQ

Ultimate Software

Logo: Ultimate Software, Public domain, via Wikimedia Commons4

Former American multinational technology company

Ultimate Software was an American multinational technology company that developed and sold UltiPro, a cloud-based human capital management (HCM) software system for businesses. Headquartered in Weston, Florida, the company was founded in 1990 by Scott Scherr, and it released its first version of software in 1993. As of the fourth quarter in 2017, Ultimate Software reported total revenues of over $940.7 million.3 It employed 4,877 people in 2018.1 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

1990Founded1

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  • TickerULTI on NASDAQ1
  • Industrysoftware industry1
  • HeadquartersWeston1
  • Websitewww.ultimatesoftware.com
  • Incorporated inDE5
  • Business addressUltimate Software Group Inc, 2000 Ultimate Way, Weston, Fl 333265
  • Filer categoryLarge accelerated filer5

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Ultimate Software was an American multinational technology company that developed and sold UltiPro, a cloud-based human capital management (HCM) software system for businesses. Headquartered in Weston, Florida, the company was founded in 1990 by Scott Scherr, and it released its first version of software in 1993. As of the fourth quarter in 2017, Ultimate Software reported total revenues of over $940.7 million. As of 2017, the company employed more than 5,000 people and serviced 4,100 customers in 160 countries. Ultimate had offices around the U.S., Canada, UK, and Singapore. On February 4, 2019, Hellman & Friedman Capital Partners announced it would purchase Ultimate Software Group for $11 billion; the purchase closed on May 3, 2019.3

Corporate structure

Ultimate Software sits at the top of its group. 2 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

  • Ultimate Software Weston

Built from subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Ultimate Software reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Computer equipment and software$234.5M7 Dec 31, 2018$178.1M7 Dec 31, 2017+31.7%
Property and equipment, before depreciation$527.8M7 Dec 31, 2018$429.3M7 Dec 31, 2017+23.0%
Accumulated depreciation$224.9M7 Dec 31, 2018$185.6M7 Dec 31, 2017+21.2%
Property and equipment, net$302.9M7 Dec 31, 2018$243.7M7 Dec 31, 2017+24.3%

Real estate and locations

ItemLatestA year beforeChange
Countries it operates in617 Dec 31, 2018378 Dec 31, 2017+64.9%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$151.2M7 Dec 31, 2018$155.7M7 Dec 31, 2017−2.9%
Marketable securities, current$10.7M7 Dec 31, 2018$9.4M7 Dec 31, 2017+13.9%
Marketable securities, non-current$08 Dec 31, 2017$8.5M8 Dec 31, 2016−100.0%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$219.9M7 Dec 31, 2018$35.8M7 Dec 31, 2017+514.1%
Intangible assets, net (excluding goodwill)$144.4M7 Dec 31, 2018$20.9M7 Dec 31, 2017+592.2%
Indefinite-lived intangibles (excluding goodwill)$07 Dec 31, 2017$08 Dec 31, 2016
Finite-lived intangibles, gross$164.7M7 Dec 31, 2018$28.0M7 Dec 31, 2017+488.2%
Accumulated amortization$16.1M7 Dec 31, 2018$6.4M7 Dec 31, 2017+152.7%
Finite-lived intangibles, net$144.4M7 Dec 31, 2018$20.7M7 Dec 31, 2017+596.1%

The story

Ultimate Software was founded in 1990 by Scott Scherr. In 1993, the tech company released UltiPro HRMS/payroll sold as on-premise software servicing core HR and payroll. The company went public (NASDAQ: ULTI) in June 1998.

In 2002, UltiPro was reintroduced as a cloud-based model to provide a unified management tool for human resources. This model allowed the company to hold more than 33 million client records in the cloud and provide services to more than 3,400 customers, according to Career Builder. The company expanded outside of the United States and opened an office in London, England. Later that year, Ultimate announced additional expansion in Singapore.

From Wikipedia’s article on Ultimate Software, shared under CC BY-SA 4.0.6

Leadership

Who has led Ultimate Software, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Scott Scherr2006–2019

Chair

  1. Marc D. Scherr2006–2019
  2. Scott Scherr2006–2019

President

  1. Scott Scherr2006–2019

Chief financial officer

  1. Mitchell K. Dauerman2006–2018
  2. Felicia Alvaro2018–2019

Chief operating officer

  1. Marc D. Scherr2006–2019
1995200020052010201520202025
Board members and other officers (13)

Products and brands

The company's UltiPro is a cloud-based platform that delivers human capital management to organizations across all industries. UltiPro provides one system of record for HR, payroll, and talent management. According to TrustRadius, UltiPro includes time and attendance, employee onboarding, performance management, compensation management, succession management, recruiting, and other features like predictive analytics.

From Wikipedia’s article on Ultimate Software, shared under CC BY-SA 4.0.6

Subsidiaries and ownership

Subsidiaries

From Wikidata.1

Acquisitions

  1. 2018Acquired PeopleDoc1
  2. Succeeded by Ultimate Kronos Group1

Employees over time

  • 20184,8771

Timeline

  1. Feb 10, 2006New chief executive Scott Scherr becomes CEO9
  2. Jun 2, 1998Went public Listed on NASDAQ1
  3. 1990Founded Founded1

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Jane Street Group, LLC41,614$482.9K0.0%New
Apollon Wealth Management, LLC33,000$383.0K0.0%−2,250
Old Mission Capital LLC28,817$334.4K0.0%New
UBS Group AG487$5.7K0.0%New
Fmr LLC2$230.0%No change
Wells Fargo & Company/mn1$90.0%No change

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Ultimate Software is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARULTIMATE SOFTWARE GROUP INC2
  • CIK0001016125
  • Employer ID (EIN)65-06940772
  • Filer statusLarge accelerated filer2
  • Incorporated inDelaware2
  • Fiscal year endsDecember 312
  • Industry code (SIC)7372 Services-Prepackaged Software2
  • Business addressUltimate Software Group Inc, 2000 Ultimate Way, Weston, FL 333262
  • Phone95426610002
  • Shares outstanding31,680,399 as of Apr 30, 201925
  • Public float$7.6B as of Jun 30, 20187
  • On EDGAR sinceMar 13, 19982
  • Filings1,277 in all: 4 (828), 8-K (98), SC 13G/A (84), 10-Q (63), SC 13G (31), DEF 14A (25), 10-K (20), 5 (14)2
    All 39 form types

    UPLOAD (12), CORRESP (11), DEFA14A (11), 3 (9), 4/A (8), S-8 (8), S-8 POS (8), CT ORDER (6), 8-K/A (5), S-1/A (4), S-3/A (4), 10-Q/A (3), 8-A12G (2), 8-A12G/A (2), D (2), EFFECT (2), POS AM (2), S-3 (2), 10-K/A (1), 10-K405 (1), 15-12G (1), 25-NSE (1), 424B1 (1), 5/A (1), DEFM14A (1), NT 10-Q (1), POSASR (1), PREM14A (1), REGDEX (1), S-1 (1), S-3ASR (1)

  • Latest filingsAnnual report (10-K) Mar 1, 2019
    Quarterly report (10-Q) May 1, 2019
    Proxy statement (DEF 14A) Feb 20, 2019
    Latest 8-K (8-K) May 3, 2019

Sources

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