ING Groep NV Takes Position in Manhattan Associates, Inc. (NASDAQ:MANH)
ING Groep NV bought a new position in Manhattan Associates, Inc. (NASDAQ:MANH) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 8,448 shares of the software maker’s stock, valued at approximately $406,000.
A number of other institutional investors have also modified their holdings of the company. Acrospire Investment Management LLC raised its stake in shares of Manhattan Associates by 20.9% in the first quarter. Acrospire Investment Management LLC now owns 2,177 shares of the software maker’s stock worth $113,000 after buying an additional 377 shares during the period. Lloyds Banking Group plc bought a new stake in shares of Manhattan Associates during the first quarter worth $126,000. Pennsylvania Trust Co bought a new stake in shares of Manhattan Associates during the first quarter worth $220,000. Investment Centers of America Inc. bought a new stake in shares of Manhattan Associates during the first quarter worth $222,000. Finally, M&T Bank Corp bought a new stake in shares of Manhattan Associates during the first quarter worth $225,000.
Shares of Manhattan Associates, Inc. (NASDAQ MANH) traded up 0.32% on Tuesday, reaching $43.82. 89,552 shares of the company were exchanged. Manhattan Associates, Inc. has a 52 week low of $42.50 and a 52 week high of $62.14. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of 25.31 and a beta of 1.15. The company’s 50-day moving average is $46.52 and its 200-day moving average is $48.22.
Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Thursday, July 20th. The software maker reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.02. Manhattan Associates had a net margin of 20.55% and a return on equity of 75.58%. The company had revenue of $154.10 million for the quarter, compared to analysts’ expectations of $153.80 million. During the same period in the prior year, the business earned $0.49 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. On average, equities analysts expect that Manhattan Associates, Inc. will post $1.87 EPS for the current fiscal year.
Manhattan Associates declared that its Board of Directors has initiated a stock buyback program on Thursday, April 20th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the software maker to repurchase up to 1.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
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A number of equities research analysts have recently weighed in on the stock. Benchmark Co. lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Friday, April 21st. BidaskClub raised shares of Manhattan Associates from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. Zacks Investment Research cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Finally, SunTrust Banks, Inc. began coverage on shares of Manhattan Associates in a research report on Monday, June 26th. They set a “hold” rating and a $45.00 price target for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $59.50.
Manhattan Associates Company Profile
Manhattan Associates, Inc (Manhattan) is a developer and provider of supply chain commerce solutions. The Company operates through 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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