Manhattan Associates Inc. (MANH) Trading 3.6% Higher
Manhattan Associates Inc. (NASDAQ:MANH) shares traded up 3.6% on Wednesday . The stock traded as high as $66.05 and last traded at $65.87, with a volume of 375,209 shares. The stock had previously closed at $63.61.
Several research analysts have recently weighed in on the stock. William Blair lowered shares of Manhattan Associates from an “outperform” rating to a “market perform” rating in a report on Thursday, April 28th. Brean Capital reiterated a “buy” rating and set a $75.00 price objective on shares of Manhattan Associates in a report on Thursday, May 12th. Finally, Zacks Investment Research upgraded shares of Manhattan Associates from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a report on Wednesday, March 9th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Manhattan Associates currently has an average rating of “Buy” and a consensus price target of $73.50.
The stock has a market capitalization of $4.78 billion and a P/E ratio of 45.05. The stock’s 50 day moving average is $64.70 and its 200 day moving average is $59.70.
Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, April 19th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.03. The firm had revenue of $149.90 million for the quarter, compared to analyst estimates of $145.46 million. The company’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the company earned $0.34 EPS. On average, analysts forecast that Manhattan Associates Inc. will post $1.76 EPS for the current fiscal year.
In other news, CEO Eddie Capel sold 20,000 shares of the company’s 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 of the company’s stock, valued at $13,101,985.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brian J. Cassidy sold 17,792 shares of the company’s stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $67.00, for a total value 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.
A number of institutional investors recently added to or reduced their stakes in MANH. Wells Fargo & Company MN raised its position in Manhattan Associates by 26.2% in the fourth quarter. Wells Fargo & Company MN now owns 966,263 shares of the company’s stock valued at $63,937,000 after buying an additional 200,774 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Manhattan Associates by 5.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 916,038 shares of the company’s stock valued at $60,615,000 after buying an additional 51,202 shares during the last quarter. Paradigm Asset Management Co. LLC bought a new position in Manhattan Associates during the fourth quarter valued at $1,581,000. GSA Capital Partners LLP raised its position in Manhattan Associates by 67.7% in the fourth quarter. GSA Capital Partners LLP now owns 67,643 shares of the company’s stock valued at $4,476,000 after buying an additional 27,313 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado raised its position in Manhattan Associates by 514.9% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 113,750 shares of the company’s stock valued at $7,527,000 after buying an additional 95,250 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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