Eaton Vance Management Has $3,370,000 Stake in Manhattan Associates Inc. (MANH)
Eaton Vance Management raised its stake in Manhattan Associates Inc. (NASDAQ:MANH) by 585.0% during the second quarter, Holdings Channel reports. The firm owned 52,544 shares of the company’s stock after buying an additional 44,873 shares during the period. Eaton Vance Management owned 0.07% of Manhattan Associates worth $3,370,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in MANH. Atlanta Capital Management Co. L L C raised its position in shares of Manhattan Associates by 16.8% in the first quarter. Atlanta Capital Management Co. L L C now owns 4,196,808 shares of the company’s stock valued at $238,672,000 after buying an additional 604,984 shares during the period. Neuberger Berman Group LLC raised its position in shares of Manhattan Associates by 6.5% in the second quarter. Neuberger Berman Group LLC now owns 3,872,121 shares of the company’s stock valued at $248,319,000 after buying an additional 237,415 shares during the period. State Street Corp raised its position in shares of Manhattan Associates by 1.4% in the first quarter. State Street Corp now owns 2,440,798 shares of the company’s stock valued at $138,804,000 after buying an additional 34,235 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of Manhattan Associates by 2.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,396,135 shares of the company’s stock valued at $136,268,000 after buying an additional 68,457 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in shares of Manhattan Associates by 17.1% in the second quarter. PNC Financial Services Group Inc. now owns 1,299,380 shares of the company’s stock valued at $83,330,000 after buying an additional 189,914 shares during the period. Institutional investors own 98.13% of the company’s stock.
Shares of Manhattan Associates Inc. (NASDAQ:MANH) traded up 1.47% during mid-day trading on Tuesday, reaching $59.54. 131,306 shares of the company’s stock were exchanged. Manhattan Associates Inc. has a 52-week low of $44.14 and a 52-week high of $77.75. The stock’s 50-day moving average is $59.55 and its 200-day moving average is $60.83. The stock has a market cap of $4.26 billion, a price-to-earnings ratio of 37.68 and a beta of 1.30.
Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, July 19th. The company reported $0.49 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.05. The business had revenue of $154.90 million for the quarter, compared to analyst estimates of $153.75 million. Manhattan Associates had a net margin of 19.56% and a return on equity of 62.72%. During the same quarter in the previous year, the firm posted $0.37 earnings per share. On average, equities analysts expect that Manhattan Associates Inc. will post $1.79 EPS for the current year.
A number of research analysts recently issued reports on the stock. Brean Capital reiterated a “buy” rating and issued a $75.00 target price on shares of Manhattan Associates in a research note on Wednesday, August 3rd. Zacks Investment Research lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Wednesday, June 22nd. Finally, Raymond James Financial Inc. reiterated an “outperform” rating and issued a $74.00 target price (down from $75.00) on shares of Manhattan Associates in a research note on Friday, July 15th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $72.17.
About Manhattan Associates
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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