IBM Retirement Fund reduced its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 7.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,734 shares of the company’s stock after selling 507 shares during the period. IBM Retirement Fund’s holdings in Manhattan Associates were worth $388,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. Johnson Financial Group Inc. raised its stake in Manhattan Associates by 139.9% in the second quarter. Johnson Financial Group Inc. now owns 2,317 shares of the company’s stock valued at $149,000 after buying an additional 1,351 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in Manhattan Associates during the second quarter valued at $160,000. Janney Montgomery Scott LLC purchased a new stake in Manhattan Associates during the second quarter valued at $201,000. First Allied Advisory Services Inc. purchased a new stake in Manhattan Associates during the second quarter valued at $201,000. Finally, Parkwood LLC raised its stake in Manhattan Associates by 17.7% in the third quarter. Parkwood LLC now owns 3,958 shares of the company’s stock valued at $228,000 after buying an additional 594 shares in the last quarter. Hedge funds and other institutional investors own 99.68% of the company’s stock.
Manhattan Associates, Inc. (NASDAQ:MANH) traded up 0.08% on Wednesday, hitting $50.46. The stock had a trading volume of 367,068 shares. The company has a 50-day moving average price of $52.40 and a 200 day moving average price of $56.36. Manhattan Associates, Inc. has a 52-week low of $44.14 and a 52-week high of $68.57. The firm has a market cap of $3.59 billion, a PE ratio of 30.42 and a beta of 1.15.
Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, October 18th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.04. Manhattan Associates had a return on equity of 66.06% and a net margin of 20.17%. The firm had revenue of $152.21 million for the quarter, compared to the consensus estimate of $156.15 million. During the same period in the prior year, the business posted $0.42 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities analysts forecast that Manhattan Associates, Inc. will post $1.84 earnings per share for the current fiscal year.
A number of research analysts have issued reports on MANH shares. Zacks Investment Research cut Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Wednesday, September 21st. Brean Capital reiterated a “buy” rating and set a $75.00 price objective on shares of Manhattan Associates in a research note on Thursday, October 13th. Finally, Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Manhattan Associates in a research note on Monday, January 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $67.75.
About Manhattan Associates
Manhattan Associates, Inc (Manhattan) is a developer and provider of supply chain commerce solutions. The Company has three geographical segments: the Americas, Europe, Middle East and Africa (EMEA), and the Asia Pacific (APAC). It is engaged in developing, selling, deploying, servicing and maintaining software solutions designed to manage supply chains, inventory and omni-channel operations for retailers, wholesalers, manufacturers, logistics providers and other organizations.
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