JPMorgan Chase & Co. Reiterates Neutral Rating for Advent Software (ADVS)
Advent Software (NASDAQ:ADVS)‘s stock had its “neutral” rating restated by equities research analysts at JPMorgan Chase & Co. in a research note issued to investors on Tuesday. They currently have a $34.50 target price on the stock, down from their previous target price of $36.00. JPMorgan Chase & Co.’s target price would suggest a potential upside of 10.47% from the company’s current price.
In other Advent Software news, EVP Todd Gottula unloaded 3,862 shares of Advent Software stock on the open market in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $31.30, for a total value of $120,880.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of other analysts have also recently weighed in on ADVS. Analysts at Sandler O’Neill raised their price target on shares of Advent Software from $33.00 to $35.00 in a research note on Thursday, June 19th. They now have a “buy” rating on the stock. 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. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $34.74.
Shares of Advent Software (NASDAQ:ADVS) traded up 6.79% on Tuesday, hitting $33.35. 468,168 shares of the company’s stock traded hands. Advent Software has a 52-week low of $25.42 and a 52-week high of $36.11. The stock has a 50-day moving average of $32.09 and a 200-day moving average of $30.74. The company has a market cap of $1.716 billion and a price-to-earnings ratio of 60.88. Advent Software also was the target of a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 1,820,985 shares, an increase of 39.7% from the June 30th total of 1,303,829 shares. Based on an average daily trading volume, of 176,822 shares, the days-to-cover ratio is currently 10.3 days. Approximately 4.5% of the shares of the company are short sold.
Advent Software (NASDAQ:ADVS) last issued its quarterly earnings data on Monday, July 28th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.04. The company had revenue of $100.40 million for the quarter, compared to the consensus estimate of $97.82 million. During the same quarter in the previous year, the company posted $0.37 earnings per share. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, analysts predict that Advent Software will post $1.38 earnings per share for the current fiscal year.
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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