Fmr LLC Sells 635,233 Shares of Manhattan Associates, Inc. (MANH)
Fmr LLC decreased its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 99.2% during the first quarter, Holdings Channel reports. The institutional investor owned 5,152 shares of the software maker’s stock after selling 635,233 shares during the period. Fmr LLC’s holdings in Manhattan Associates were worth $268,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Capital Insight Partners LLC raised its stake in shares of Manhattan Associates by 13.0% in the first quarter. Capital Insight Partners LLC now owns 19,679 shares of the software maker’s stock worth $1,024,000 after buying an additional 2,263 shares during the last quarter. Whittier Trust Co. raised its stake in shares of Manhattan Associates by 5.4% in the first quarter. Whittier Trust Co. now owns 37,441 shares of the software maker’s stock worth $1,948,000 after buying an additional 1,904 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Manhattan Associates by 81.3% in the first quarter. Janney Montgomery Scott LLC now owns 28,417 shares of the software maker’s stock worth $1,479,000 after buying an additional 12,747 shares during the last quarter. First Quadrant L P CA raised its stake in shares of Manhattan Associates by 7.4% in the first quarter. First Quadrant L P CA now owns 52,485 shares of the software maker’s stock worth $2,732,000 after buying an additional 3,638 shares during the last quarter. Finally, Waldron LP acquired a new stake in shares of Manhattan Associates during the first quarter worth about $745,000.
Manhattan Associates, Inc. (NASDAQ:MANH) opened at 43.37 on Thursday. The stock has a 50 day moving average price of $45.94 and a 200 day moving average price of $47.96. Manhattan Associates, Inc. has a 1-year low of $42.50 and a 1-year high of $62.14. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 25.05 and a beta of 1.15.
Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Thursday, July 20th. The software maker reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. The company had revenue of $154.10 million during the quarter, compared to the consensus estimate of $153.80 million. Manhattan Associates had a return on equity of 75.58% and a net margin of 20.55%. The firm’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.49 EPS. Analysts predict that Manhattan Associates, Inc. will post $1.87 EPS for the current year.
Manhattan Associates announced that its Board of Directors has authorized a stock repurchase plan on Thursday, April 20th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the software maker to reacquire up to 1.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
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MANH has been the topic of a number of research analyst reports. Zacks Investment Research raised Manhattan Associates from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research note on Thursday, June 15th. SunTrust Banks, Inc. initiated coverage on Manhattan Associates in a research note on Monday, June 26th. They issued a “hold” rating and a $45.00 price target on the stock. BidaskClub lowered Manhattan Associates from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Finally, Benchmark Co. lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Friday, April 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $59.50.
About Manhattan Associates
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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