Insider Selling: David Peter Hess Unloads 2,658 Shares of Advent Software Stock (ADVS)
Advent Software (NASDAQ:ADVS) CEO David Peter Hess unloaded 2,658 shares of the company’s stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $32.19, for a total transaction of $85,561.02. Following the sale, the chief executive officer now directly owns 162,328 shares in the company, valued at approximately $5,225,338. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Advent Software (NASDAQ:ADVS) traded down 2.40% during mid-day trading on Wednesday, hitting $31.75. 264,943 shares of the company’s stock traded hands. Advent Software has a 1-year low of $25.42 and a 1-year high of $36.21. The stock’s 50-day moving average is $29.86 and its 200-day moving average is $31.19. The company has a market cap of $1.634 billion and a P/E ratio of 63.41.
Advent Software (NASDAQ:ADVS) last announced its earnings results on Monday, April 28th. The company reported $0.33 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.32 by $0.01. The company had revenue of $96.80 million for the quarter, compared to the consensus estimate of $96.54 million. During the same quarter last year, the company posted $0.32 earnings per share. Advent Software’s revenue was up 4.6% compared to the same quarter last year. On average, analysts predict that Advent Software will post $1.38 earnings per share for the current fiscal year.
A number of research firms have recently commented on ADVS. Analysts at Raymond James initiated coverage on shares of Advent Software in a research note on Friday, June 13th. They set a “market perform” rating on the stock. Separately, analysts at Sandler O’Neill upgraded shares of Advent Software from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. They now have a $33.00 price target on the stock. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of Advent Software in a research note on Tuesday, April 29th. They now have a $30.00 price target on the stock, down previously from $38.00. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $34.30.
Advent Software, Inc (NASDAQ:ADVS) offers software and services, which automate work flows and data across investment management organizations, as well as the information flows between an investment management organization and external parties.
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