Ultimate Software (ULTI) has shown consistent growth in last five years with CAGR of 25%. The company has been gaining market share from the traditional software vendors in HCM segment. Currently, the company caters to a small volume in the HCM segment, but it is gaining a lot of customer attention due to its superior service and its order book is brimming. I see the company continuing its growth momentum in the coming years, as the HCM market is expected to grow from $8 billion in 2012 to $11 billion by 2016 and SaaS is expected to account for three-fourth of the incremental business.
Ultimate Software Group is a provider of cloud based Human...
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