Wells Fargo & Company MN Grows Position in Manhattan Associates, Inc. (MANH)
Wells Fargo & Company MN lifted its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 0.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,073,131 shares of the software maker’s stock after buying an additional 6,781 shares during the period. Wells Fargo & Company MN owned about 1.56% of Manhattan Associates worth $44,610,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. World Asset Management Inc lifted its stake in shares of Manhattan Associates by 0.4% in the second quarter. World Asset Management Inc now owns 5,015 shares of the software maker’s stock valued at $241,000 after buying an additional 19 shares during the period. Alps Advisors Inc. lifted its stake in shares of Manhattan Associates by 0.3% in the second quarter. Alps Advisors Inc. now owns 9,559 shares of the software maker’s stock valued at $459,000 after buying an additional 25 shares during the period. Stephens Inc. AR lifted its stake in shares of Manhattan Associates by 0.5% in the second quarter. Stephens Inc. AR now owns 6,086 shares of the software maker’s stock valued at $292,000 after buying an additional 32 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Manhattan Associates by 11.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,554 shares of the software maker’s stock valued at $123,000 after buying an additional 271 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC lifted its stake in shares of Manhattan Associates by 2.7% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 12,454 shares of the software maker’s stock valued at $799,000 after buying an additional 322 shares during the period.
Several equities research analysts recently weighed in on the stock. KeyCorp reiterated a “hold” rating on shares of Manhattan Associates in a research note on Tuesday, October 17th. SunTrust Banks upgraded shares of Manhattan Associates from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Tuesday, October 3rd. They noted that the move was a valuation call. Finally, Zacks Investment Research cut shares of Manhattan Associates from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $65.00.
Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results on Tuesday, October 24th. The software maker reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. The firm had revenue of $152.88 million during the quarter, compared to analysts’ expectations of $150.30 million. Manhattan Associates had a net margin of 20.38% and a return on equity of 74.19%. The company’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter last year, the company earned $0.50 earnings per share. equities analysts forecast that Manhattan Associates, Inc. will post 1.75 earnings per share for the current fiscal year.
In other Manhattan Associates news, CEO Eddie Capel sold 23,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $42.04, for a total transaction of $966,920.00. Following the completion of the transaction, the chief executive officer now owns 180,057 shares in the company, valued at $7,569,596.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.01% of the stock is owned by company insiders.
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Manhattan Associates 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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