Manhattan Associates, Inc. (NASDAQ:MANH) Position Lowered by Retirement Systems of Alabama
Retirement Systems of Alabama reduced its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 189,524 shares of the software maker’s stock after selling 1,361 shares during the period. Retirement Systems of Alabama’s holdings in Manhattan Associates were worth $9,109,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. BlackRock Inc. raised its position in shares of Manhattan Associates by 14,241.7% in the first quarter. BlackRock Inc. now owns 5,768,519 shares of the software maker’s stock worth $300,250,000 after buying an additional 5,728,297 shares during the last quarter. MARSHALL WACE ASIA Ltd acquired a new position in shares of Manhattan Associates during the first quarter worth about $61,060,000. Marshall Wace North America L.P. acquired a new position in shares of Manhattan Associates during the first quarter worth about $61,060,000. JPMorgan Chase & Co. raised its position in shares of Manhattan Associates by 261.2% in the first quarter. JPMorgan Chase & Co. now owns 1,447,225 shares of the software maker’s stock worth $75,328,000 after buying an additional 1,046,565 shares during the last quarter. Finally, Hermes Investment Management Ltd. acquired a new position in shares of Manhattan Associates during the first quarter worth about $44,041,000.
Shares of Manhattan Associates, Inc. (MANH) opened at 43.40 on Friday. Manhattan Associates, Inc. has a 52-week low of $42.50 and a 52-week high of $62.14. The company’s 50 day moving average price is $45.68 and its 200 day moving average price is $47.87. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 25.07 and a beta of 1.15.
Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Thursday, July 20th. The software maker reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ 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 company had revenue of $154.10 million for the quarter, compared to analyst estimates of $153.80 million. During the same quarter last year, the firm earned $0.49 EPS. Manhattan Associates’s revenue for the quarter was down .5% compared to the same quarter last year. Analysts forecast that Manhattan Associates, Inc. will post $1.87 earnings per share for the current year.
Manhattan Associates announced that its Board of Directors has authorized a stock buyback program on Thursday, April 20th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the software maker to buy up to 1.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.
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A number of equities analysts have issued reports on MANH shares. Zacks Investment Research raised Manhattan Associates from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research report on Thursday, April 27th. Benchmark Co. lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Friday, April 21st. BidaskClub lowered Manhattan Associates from a “hold” rating to a “sell” rating in a research report on Friday, June 9th. Finally, SunTrust Banks, Inc. started coverage on Manhattan Associates in a research report on Monday, June 26th. They set a “hold” rating and a $45.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price 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.
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