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Why Shares of Ultimate Software Group Dropped Today | Fox Business

Wed Aug 02 23:36:14 EDT 2017 | Fox Business
Shares of human capital management software provider Ultimate Software Group (NASDAQ: ULTI) slumped on Wednesday following a mixed second-quarter report. While revenue surged 20%, it nonetheless missed analyst expectations. This miss, coupled with a guidance cut, sent the stock about 11% lower by 11:20 a.m. EDT. Ultimate Software reported second-quarter revenue of $224.7 million, up 20.5% year over year but $3.3 million below the average analyst estimate. Recurring revenue soared 23% year over y..

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