Investors Buy Manhattan Associates Inc. (MANH) on Weakness
Traders bought shares of Manhattan Associates Inc. (NASDAQ:MANH) on weakness during trading hours on Wednesday. $86.18 million flowed into the stock on the tick-up and $74.19 million flowed out of the stock on the tick-down, for a money net flow of $11.99 million into the stock. Of all equities tracked, Manhattan Associates had the 21st highest net in-flow for the day. Manhattan Associates traded down ($1.44) for the day and closed at $61.31
A number of research analysts have issued reports on MANH shares. Brean Capital reiterated a “buy” rating on shares of Manhattan Associates in a research report on Tuesday, April 12th. Zacks Investment Research cut Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Wednesday, June 22nd. William Blair cut Manhattan Associates from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 28th. Finally, Raymond James Financial Inc. reiterated an “outperform” rating and issued a $74.00 target price (down previously from $75.00) on shares of Manhattan Associates in a research report on Friday, July 15th. One 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. The stock presently has a consensus rating of “Hold” and an average price target of $73.67.
The stock has a market cap of $4.42 billion and a PE ratio of 41.71. The company’s 50 day moving average price is $64.89 and its 200 day moving average price is $59.55.
Manhattan Associates (NASDAQ:MANH) last issued its quarterly 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. During the same period in the prior year, the company earned $0.37 EPS. The firm had revenue of $154.90 million for the quarter, compared to analysts’ expectations of $153.75 million. On average, equities research analysts anticipate that Manhattan Associates Inc. will post $1.76 EPS for the current fiscal year.
In related news, Director Brian J. Cassidy sold 17,792 shares of the stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $67.00, for a total transaction of $1,192,064.00. Following the sale, the director now owns 53,438 shares of the company’s stock, valued at approximately $3,580,346. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eddie Capel sold 20,000 shares of the stock in a transaction dated Friday, April 22nd. The stock was 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 directly owns 197,438 shares in the company, valued at approximately $13,101,985.68. The disclosure for this sale can be found here.
A number of hedge funds recently modified their holdings of MANH. Oxford Asset Management boosted 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 worth $1,182,000 after buying an additional 4,349 shares during the period. ProShare Advisors LLC boosted its stake in shares of Manhattan Associates by 35.2% in the fourth quarter. ProShare Advisors LLC now owns 19,603 shares of the company’s stock worth $1,297,000 after buying an additional 5,106 shares during the period. Bank of Montreal Can boosted its stake 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 period. Robeco Institutional Asset Management B.V. bought a new stake in shares of Manhattan Associates during the fourth quarter worth about $1,558,000. Finally, Bailard Inc. bought a new stake in shares of Manhattan Associates during the fourth quarter worth about $1,773,000.
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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