Pitcairn Co. Increases Position in Manhattan Associates Inc. (MANH)
Pitcairn Co. increased its position in shares of Manhattan Associates Inc. (NASDAQ:MANH) by 163.2% during the second quarter, Holdings Channel reports. The fund owned 10,332 shares of the company’s stock after buying an additional 6,406 shares during the period. Pitcairn Co.’s holdings in Manhattan Associates were worth $662,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Douglas Lane & Associates LLC raised its position in shares of Manhattan Associates by 6.2% in the second quarter. Douglas Lane & Associates LLC now owns 383,942 shares of the company’s stock worth $24,622,000 after buying an additional 22,245 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Manhattan Associates during the second quarter worth $801,000. Daiwa Securities Group Inc. bought a new position in shares of Manhattan Associates during the second quarter worth $160,000. Adams Diversified Equity Fund Inc. bought a new position in shares of Manhattan Associates during the second quarter worth $372,000. Finally, LS Investment Advisors LLC raised its stake in shares of Manhattan Associates by 68.6% in the second quarter. LS Investment Advisors LLC now owns 4,359 shares of the company’s stock worth $280,000 after buying an additional 1,773 shares in the last quarter. 97.82% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Manhattan Associates Inc. (NASDAQ:MANH) traded down 0.22% during trading on Thursday, reaching $58.00. 910,521 shares of the company were exchanged. The firm’s 50 day moving average price is $59.55 and its 200 day moving average price is $60.79. The company has a market capitalization of $4.15 billion, a PE ratio of 36.71 and a beta of 1.30. Manhattan Associates Inc. has a one year low of $44.14 and a one year high of $77.75.
Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, July 19th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. The business earned $154.90 million during the quarter, compared to the consensus estimate 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 prior year, the firm posted $0.37 EPS. Equities research analysts forecast that Manhattan Associates Inc. will post $1.79 earnings per share for the current fiscal year.
A number of analysts have recently commented on the stock. Zacks Investment Research lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Wednesday, June 22nd. Brean Capital reissued a “buy” rating and issued a $75.00 price objective on shares of Manhattan Associates in a research report on Wednesday, July 20th. Finally, Raymond James Financial Inc. reissued an “outperform” rating and issued a $74.00 price objective (down previously from $75.00) on shares of Manhattan Associates in a research report on Friday, July 15th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Manhattan Associates presently has an average rating of “Buy” and a consensus target price of $72.17.
Manhattan Associates Company Profile
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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