A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Acrospire Investment Management LLC boosted its position in shares of Manhattan Associates by 20.9% in the first quarter. Acrospire Investment Management LLC now owns 2,177 shares of the software maker’s stock worth $113,000 after buying an additional 377 shares during the period. Lloyds Banking Group plc bought a new position in shares of Manhattan Associates during the first quarter worth about $126,000. Pennsylvania Trust Co bought a new position in shares of Manhattan Associates during the first quarter worth about $220,000. M&T Bank Corp bought a new position in shares of Manhattan Associates during the first quarter worth about $225,000. Finally, World Asset Management Inc boosted its position in shares of Manhattan Associates by 14.5% in the first quarter. World Asset Management Inc now owns 4,996 shares of the software maker’s stock worth $260,000 after buying an additional 634 shares during the period.
Alliancebernstein L.P. reduced its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 6.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,369 shares of the software maker’s stock after selling 2,826 shares during the period. Alliancebernstein L.P. owned 0.06% of Manhattan Associates worth $2,309,000 as of its most recent SEC filing.
Shares of Manhattan Associates, Inc. (NASDAQ:MANH) traded down 0.96% on Wednesday, hitting $43.50. 486,882 shares of the stock were exchanged. Manhattan Associates, Inc. has a one year low of $42.50 and a one year high of $62.14. The firm’s 50-day moving average is $46.52 and its 200-day moving average is $48.22. The company has a market cap of $3.00 billion, a P/E ratio of 25.13 and a beta of 1.16.
Manhattan Associates (NASDAQ:MANH) last released its earnings results on Thursday, July 20th. The software maker reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Manhattan Associates had a net margin of 20.55% and a return on equity of 75.58%. The business had revenue of $154.10 million for the quarter, compared to the consensus estimate of $153.80 million. During the same period in the previous year, the firm earned $0.49 EPS. The business’s revenue for the quarter was down .5% on a year-over-year basis. On average, equities analysts forecast that Manhattan Associates, Inc. will post $1.87 EPS for the current fiscal year.
Manhattan Associates announced that its board has initiated a share buyback plan on Thursday, April 20th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the software maker to reacquire up to 1.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
MANH has been the subject of a number of recent research reports. Benchmark Co. cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Friday, April 21st. BidaskClub raised shares of Manhattan Associates from a “sell” rating to a “hold” rating in a research note on Friday, June 16th. Zacks Investment Research cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. Finally, SunTrust Banks, Inc. initiated coverage on shares of Manhattan Associates in a research note on Monday, June 26th. They set a “hold” rating and a $45.00 price objective for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $59.50.
About Manhattan Associates
Manhattan Associates, Inc (Manhattan) is a developer and provider of supply chain commerce solutions. The Company operates through 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.