Manhattan Associates, Inc. (MANH) Stake Increased by Wedge Capital Management L L P NC
Wedge Capital Management L L P NC lifted its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 18.4% in the 4th quarter, HoldingsChannel reports. The fund owned 10,717 shares of the software maker’s stock after acquiring an additional 1,662 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Manhattan Associates were worth $531,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of MANH. Zions Bancorporation bought a new stake in shares of Manhattan Associates in the 3rd quarter worth $128,000. Victory Capital Management Inc. bought a new stake in shares of Manhattan Associates in the 3rd quarter worth $168,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Manhattan Associates by 45.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,719 shares of the software maker’s stock worth $184,000 after acquiring an additional 1,165 shares in the last quarter. Wilkins Investment Counsel Inc. bought a new stake in shares of Manhattan Associates in the 3rd quarter worth $212,000. Finally, Suntrust Banks Inc. bought a new stake in shares of Manhattan Associates in the 2nd quarter worth $236,000.
MANH has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Manhattan Associates from a “sell” rating to a “hold” rating in a research note on Saturday, November 18th. BidaskClub upgraded shares of Manhattan Associates from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. Finally, KeyCorp reiterated a “hold” rating on shares of Manhattan Associates in a research note on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $55.00.
Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, February 6th. The software maker reported $0.45 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. The company had revenue of $144.09 million during the quarter, compared to analyst estimates of $144.86 million. Manhattan Associates had a net margin of 19.59% and a return on equity of 72.02%. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.46 earnings per share. equities analysts forecast that Manhattan Associates, Inc. will post 1.12 earnings per share for the current fiscal year.
Manhattan Associates declared that its board has authorized a stock buyback plan on Tuesday, February 6th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the software maker to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
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.
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