Janney Montgomery Scott LLC Buys 1,752 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)
Janney Montgomery Scott LLC increased its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 6.2% during the second quarter, Holdings Channel reports. The institutional investor owned 30,169 shares of the software maker’s stock after buying an additional 1,752 shares during the period. Janney Montgomery Scott LLC’s holdings in Manhattan Associates were worth $1,450,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC boosted its stake in 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 in the last quarter. Lloyds Banking Group plc acquired a new position in shares of Manhattan Associates during the first quarter worth about $126,000. Investment Centers of America Inc. acquired a new position in shares of Manhattan Associates during the first quarter worth about $222,000. Pennsylvania Trust Co acquired a new position in shares of Manhattan Associates during the first quarter worth about $220,000. Finally, M&T Bank Corp acquired a new position in shares of Manhattan Associates during the first quarter worth about $225,000.
Manhattan Associates, Inc. (NASDAQ:MANH) opened at 43.37 on Thursday. The company has a market capitalization of $2.99 billion, a P/E ratio of 25.05 and a beta of 1.15. The stock’s 50 day moving average price is $45.94 and its 200-day moving average price is $47.96. Manhattan Associates, Inc. has a one year low of $42.50 and a one year high of $62.14.
Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Thursday, July 20th. The software maker reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.02. The business had revenue of $154.10 million for 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 company’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.49 EPS. Equities analysts forecast that Manhattan Associates, Inc. will post $1.87 EPS for the current year.
Manhattan Associates announced that its board has authorized a stock buyback plan on Thursday, April 20th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits 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 board believes its shares are undervalued.
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A number of research analysts have recently issued reports on the company. Benchmark Co. downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a report on Friday, April 21st. BidaskClub raised Manhattan Associates from a “sell” rating to a “hold” rating in a report on Friday, June 16th. Zacks Investment Research downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Finally, SunTrust Banks, Inc. assumed coverage on Manhattan Associates in a report on Monday, June 26th. They set a “hold” rating and a $45.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price 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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