UPDATE: JP Morgan Reiterates Advent Software at Underweight; Sale No Longer Being Considered

JP Morgan maintained Advent Software

with an Underweight rating. JP Morgan analyst Sterling Auty commented, "Last week Reuters reported that the company had engaged an advisor to run a potential sale process. This morning the company announced that the board of directors has decided to remain independent after completing a review of strategic options with its advisors. We believe the stock is likely to fall back to levels preceding last week's report as investors will now have to evaluate the impact of the current restructuring plan on top line growth and profitability." Advent Software closed at $28.85 on Friday.