Spruce Point Issues "Strong Sell" Investment Opinion On The Ultimate Software Group (ULTI)

Spruce Point Issues “Strong Sell” Investment Opinion On The Ultimate Software Group (Nasdaq: ULTI) – Sees 20% – 45% Downside Potential Spruce Point Capital Management is pleased to announce it has released the contents of a unique short idea involving The Ultimate Software Group, Inc. (Nasdaq: ULTI), a $5+ billion dollar human resource software company where we see $110 – $146 per share, or approximately 20% to 45% downside. We have conducted an extensive forensic financial and accounting review, and have obtained unique company contracts released through Freedom of Information (FOIA) requests. Our evidence and primary research suggests intense competition…