Manhattan Associates Inc. (MANH) Trading Down 6.6%
Manhattan Associates Inc. (NASDAQ:MANH) shares fell 6.6% during trading on Tuesday . The company traded as low as $61.86 and last traded at $62.37, with a volume of 1,522,835 shares. The stock had previously closed at $66.79.
A number of research firms have recently commented on MANH. Zacks Investment Research cut shares of Manhattan Associates from a “hold” rating to a “sell” rating in a report on Thursday. Brean Capital restated a “buy” rating and issued a $75.00 price target on shares of Manhattan Associates in a report on Thursday, May 12th. Finally, William Blair cut shares of Manhattan Associates from an “outperform” rating to a “market perform” rating in a report on Thursday, April 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Manhattan Associates has a consensus rating of “Hold” and a consensus price target of $73.50.
The stock has a 50-day moving average of $65.26 and a 200 day moving average of $59.68. The firm has a market cap of $4.57 billion and a P/E ratio of 43.10.
Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, April 19th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.03. During the same period last year, the firm earned $0.34 EPS. The business had revenue of $149.90 million for the quarter, compared to analyst estimates of $145.46 million. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, equities analysts anticipate that Manhattan Associates Inc. will post $1.76 earnings per share for the current year.
In other news, CEO Eddie Capel sold 20,000 shares of Manhattan Associates stock in a transaction on Friday, April 22nd. The stock was sold at an average price of $66.36, for a total transaction of $1,327,200.00. Following the transaction, the chief executive officer now owns 197,438 shares in the company, valued at approximately $13,101,985.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Brian J. Cassidy sold 17,792 shares of Manhattan Associates stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $67.00, for a total value of $1,192,064.00. Following the transaction, the director now owns 53,438 shares in the company, valued at approximately $3,580,346. The disclosure for this sale can be found here.
Other hedge funds and institutional investors recently bought and sold shares of the company. Oxford Asset Management raised its position in 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. ProShare Advisors LLC raised its position in Manhattan Associates by 35.2% in the fourth quarter. ProShare Advisors LLC now owns 19,603 shares of the company’s stock valued at $1,297,000 after buying an additional 5,106 shares in the last quarter. Bank of Montreal Can raised its position in Manhattan Associates by 91.5% in the fourth quarter. Bank of Montreal Can now owns 20,089 shares of the company’s stock valued at $1,329,000 after buying an additional 9,601 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new position in Manhattan Associates during the fourth quarter valued at approximately $1,558,000. Finally, Paradigm Asset Management Co. LLC bought a new position in Manhattan Associates during the fourth quarter valued at approximately $1,581,000.
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.
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