Long Position on ADVS @ $32.20 on 10/4/2013 (Momentum)

Advent Software (ADVS) 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 engages in the development, marketing, and sale of software products, hosting services, data interfaces, and related maintenance and services that automate, integrate, and support mission-critical functions of investment management organizations.

It also offers various professional services, which include consulting, project management, implementation and integration, custom report writing, and training, as well as data conversion services.

In addition, the company provides Web-based, outsourced portfolio management, and reporting platforms for independent advisors; and margin management and financing software to hedge funds and prime brokers. It primarily serves asset managers, wealth managers, registered investment advisors, prime brokers, fund administrators, hedge funds, family offices, broker dealers, foundations, pension funds, endowments, and funds of funds. 

Shares have formed a bullish "cup & handle" and higher share prices are expected for this stock.

52-Week Trading Range: $20.85 - $36.21

Entry Point:  $32.20

Stop Loss:  $30.59

Target Price:  $35.42

Updates

10/9/2013 10:13:15 AM

ADVS fell below our stop loss. Position closed at $30.55.

Position closed on 10/9/2013 at price of $30.55 with a -5.12% loss in 5 days.

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