Advent Software, Inc. (NASDAQ: ADVS) said that its board of directors has authorized the repurchase of up to an additional 1.0 million shares of the company´s common stock.
This authorization is in addition to the approximately 0.4m shares that remain available for repurchase by Advent under the share repurchase program announced in October 2011.
Stock repurchases under this authorization may be made through open market and privately negotiated transactions at times and in such amounts as management deems appropriate. The timing and actual number of shares repurchased will depend on a variety of factors.
As of May 7, 2014, Advent had approximately 51m shares of common stock outstanding.
Advent Software provides software products and services for automating and integrating data and work flows across the investment management organization, as well as between the investment management organization and external parties worldwide. The company was founded in 1983 and is headquartered in San Francisco, California. Its website is at http://www.advent.com.