Manhattan Associates, Inc. (MANH) Trading Up -3.5%
Manhattan Associates, Inc. (NASDAQ:MANH) was up 3.5% on Wednesday . The company traded as high as $49.18 and last traded at $45.54. Approximately 1,088,826 shares traded hands during mid-day trading, an increase of 58% from the average daily volume of 691,209 shares. The stock had previously closed at $47.20.
A number of equities research analysts have weighed in on MANH shares. Zacks Investment Research upgraded Manhattan Associates from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a report on Thursday, June 8th. BidaskClub downgraded Manhattan Associates from a “hold” rating to a “sell” rating in a report on Friday, June 9th. Finally, SunTrust Banks, Inc. started coverage on Manhattan Associates in a report on Monday, June 26th. They issued a “hold” rating and a $45.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $62.00.
The stock has a market capitalization of $3.14 billion, a PE ratio of 26.31 and a beta of 1.12. The company’s 50 day moving average is $42.66 and its 200-day moving average is $45.91.
Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Thursday, July 20th. The software maker reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. Manhattan Associates had a return on equity of 75.58% and a net margin of 20.55%. The business had revenue of $154.10 million during the quarter, compared to analysts’ expectations of $153.80 million. During the same quarter last year, the business posted $0.49 EPS. The business’s revenue was down .5% on a year-over-year basis. Analysts expect that Manhattan Associates, Inc. will post $1.87 EPS for the current year.
Several large investors have recently made changes to their positions in MANH. BlackRock Inc. raised its position in shares of Manhattan Associates by 14,241.7% in the 1st quarter. BlackRock Inc. now owns 5,768,519 shares of the software maker’s stock worth $300,250,000 after acquiring an additional 5,728,297 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Manhattan Associates by 219.8% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,868,470 shares of the software maker’s stock worth $89,799,000 after acquiring an additional 1,284,125 shares in the last quarter. MARSHALL WACE ASIA Ltd bought a new position in shares of Manhattan Associates in the 1st quarter worth approximately $61,060,000. Marshall Wace North America L.P. bought a new position in shares of Manhattan Associates in the 1st quarter worth approximately $61,060,000. Finally, Koch Industries Inc. raised its position in shares of Manhattan Associates by 5,389.1% in the 2nd quarter. Koch Industries Inc. now owns 729,227 shares of the software maker’s stock worth $714,000 after acquiring an additional 715,942 shares in the last quarter.
Manhattan Associates Company Profile
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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