Manhattan Associates Inc. (MANH) Stock Price Down 6.6%
Manhattan Associates Inc. (NASDAQ:MANH) was down 6.6% on Tuesday . The company traded as low as $61.86 and last traded at $62.37, with a volume of 1,522,835 shares traded. The stock had previously closed at $66.79.
A number of equities research analysts recently weighed in on MANH shares. Brean Capital restated a “buy” rating and issued a $75.00 target price on shares of Manhattan Associates in a report on Saturday, June 25th. William Blair lowered shares of Manhattan Associates from an “outperform” rating to a “market perform” rating in a report on Thursday, April 28th. Finally, Zacks Investment Research upgraded shares of Manhattan Associates from a “hold” rating to a “strong-buy” rating and set a $76.00 target price on the stock in a report on Saturday, April 23rd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $73.50.
The stock has a market capitalization of $4.60 billion and a price-to-earnings ratio of 43.37. The stock has a 50 day moving average price of $65.30 and a 200 day moving average price of $59.63.
Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, April 19th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.03. The business had revenue of $149.90 million for the quarter, compared to analysts’ expectations of $145.46 million. Manhattan Associates’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.34 EPS. On average, analysts predict that Manhattan Associates Inc. will post $1.76 earnings per share for the current fiscal year.
In other news, CEO Eddie Capel sold 20,000 shares of the stock in a transaction on Friday, April 22nd. The shares were sold at an average price of $66.36, for a total value of $1,327,200.00. Following the sale, the chief executive officer now owns 197,438 shares of the company’s stock, valued at $13,101,985.68. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Brian J. Cassidy sold 17,792 shares of the stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $67.00, for a total transaction of $1,192,064.00. Following the completion of the sale, the director now directly owns 53,438 shares in the company, valued at approximately $3,580,346. The disclosure for this sale can be found here.
Several large investors have recently made changes to their positions in the stock. Retirement Systems of Alabama increased its stake in shares of Manhattan Associates by 0.8% in the fourth quarter. Retirement Systems of Alabama now owns 93,883 shares of the company’s stock valued at $6,212,000 after buying an additional 778 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of Manhattan Associates by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 136,739 shares of the company’s stock valued at $9,048,000 after buying an additional 2,084 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in shares of Manhattan Associates by 2.1% in the fourth quarter. Great West Life Assurance Co. Can now owns 42,836 shares of the company’s stock valued at $2,841,000 after buying an additional 900 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Manhattan Associates by 0.6% in the fourth quarter. Rhumbline Advisers now owns 144,523 shares of the company’s stock valued at $9,563,000 after buying an additional 855 shares in the last quarter. Finally, Oxford Asset Management increased its stake in shares of Manhattan Associates by 32.2% in the fourth quarter. Oxford Asset Management now owns 17,853 shares of the company’s stock valued at $1,182,000 after buying an additional 4,349 shares in the last quarter.
Manhattan Associates, Inc (Manhattan) is a developer and provider of supply chain commerce solutions. The Company has 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.