Quest Software to Buy Back Stock

Web-related database software maker Quest Software Inc. in Irvine said Tuesday that it will buy back up to 2 million shares of its common stock.

The company did not set any timeline for the buyback and has not committed to repurchase any specific number of shares, according to its press release.

As of Nov. 9, the company said it had about 88.3 million shares outstanding.

Quest shares gained $7.38 each Tuesday to close at $38.88 in Nasdaq trading.