Manhattan Associates Inc. (MANH) Shares Down 2.2%
Shares of Manhattan Associates Inc. (NASDAQ:MANH) traded down 2.2% during mid-day trading on Wednesday . The company traded as low as $58.60 and last traded at $61.38, with a volume of 3,505,183 shares traded. The stock had previously closed at $62.75.
A number of analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Manhattan Associates from a “hold” rating to a “strong-buy” rating and set a $76.00 price objective for the company in a report on Saturday, April 23rd. William Blair downgraded shares of Manhattan Associates from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 28th. Raymond James Financial Inc. reissued an “outperform” rating and issued a $74.00 price target (down from $75.00) on shares of Manhattan Associates in a research note on Friday, July 15th. Finally, Brean Capital reissued a “buy” rating and issued a $75.00 price target on shares of Manhattan Associates in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $73.67.
The company’s 50-day moving average is $65.00 and its 200 day moving average is $59.54. The stock has a market capitalization of $4.42 billion and a PE ratio of 41.71.
Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, July 19th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. The business had revenue of $154.90 million for the quarter, compared to analysts’ expectations of $153.75 million. During the same period last year, the business posted $0.37 EPS. On average, analysts predict that Manhattan Associates Inc. will post $1.76 EPS for the current year.
In other Manhattan Associates news, CEO Eddie Capel sold 20,000 shares of the firm’s stock in a transaction dated Friday, April 22nd. The shares were 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 of the company’s stock, valued at approximately $13,101,985.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian J. Cassidy sold 17,792 shares of the firm’s stock in a transaction dated 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 transaction, 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.
Other hedge funds and institutional investors have recently modified their holdings of the company. Caldwell & Orkin Inc. increased its position in shares of Manhattan Associates by 182.4% in the fourth quarter. Caldwell & Orkin Inc. now owns 38,400 shares of the company’s stock worth $2,541,000 after buying an additional 24,800 shares during the last quarter. Bailard Inc. purchased a new position in shares of Manhattan Associates during the fourth quarter worth about $1,773,000. Wells Fargo & Company MN increased its position in shares of Manhattan Associates by 26.2% in the fourth quarter. Wells Fargo & Company MN now owns 966,263 shares of the company’s stock worth $63,937,000 after buying an additional 200,774 shares during the last quarter. Bank of Montreal Can increased its position in shares of Manhattan Associates by 91.5% in the fourth quarter. Bank of Montreal Can now owns 20,089 shares of the company’s stock worth $1,329,000 after buying an additional 9,601 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of Manhattan Associates by 93.1% in the fourth quarter. Morgan Stanley now owns 435,378 shares of the company’s stock worth $28,809,000 after buying an additional 209,955 shares during 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.
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