Manhattan Associates, Inc. (MANH) Stake Boosted by Lloyds Banking Group plc
Lloyds Banking Group plc boosted its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 62.0% during the second quarter, Holdings Channel reports. The fund owned 3,934 shares of the software maker’s stock after buying an additional 1,505 shares during the period. Manhattan Associates comprises approximately 1.8% of Lloyds Banking Group plc’s holdings, making the stock its 14th largest position. Lloyds Banking Group plc’s holdings in Manhattan Associates were worth $189,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the company. Acrospire Investment Management LLC increased 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 last quarter. Investment Centers of America Inc. purchased a new stake in shares of Manhattan Associates during the first quarter worth about $222,000. Pennsylvania Trust Co purchased a new stake in shares of Manhattan Associates during the first quarter worth about $220,000. M&T Bank Corp purchased a new stake in shares of Manhattan Associates during the first quarter worth about $225,000. Finally, World Asset Management Inc increased its stake in shares of Manhattan Associates by 14.5% in the first quarter. World Asset Management Inc now owns 4,996 shares of the software maker’s stock worth $260,000 after buying an additional 634 shares during the last quarter.
Shares of Manhattan Associates, Inc. (NASDAQ MANH) opened at 43.40 on Monday. The stock has a market capitalization of $2.99 billion, a P/E ratio of 25.07 and a beta of 1.15. Manhattan Associates, Inc. has a one year low of $42.50 and a one year high of $62.14. The stock has a 50 day moving average of $45.68 and a 200-day moving average of $47.87.
Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Thursday, July 20th. The software maker reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.02. Manhattan Associates had a return on equity of 75.58% and a net margin of 20.55%. The company had revenue of $154.10 million during the quarter, compared to the consensus estimate of $153.80 million. During the same period in the previous year, the company posted $0.49 EPS. The firm’s revenue was down .5% on a year-over-year basis. Equities analysts forecast that Manhattan Associates, Inc. will post $1.87 earnings per share for the current year.
Manhattan Associates declared that its board has approved a share buyback program on Thursday, April 20th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the software maker to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
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A number of equities research analysts have recently issued reports on the stock. BidaskClub downgraded shares of Manhattan Associates from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 9th. Zacks Investment Research raised shares of Manhattan Associates from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a report on Thursday, June 15th. SunTrust Banks, Inc. assumed coverage on shares of Manhattan Associates in a report on Monday, June 26th. They issued a “hold” rating and a $45.00 price target on the stock. Finally, Benchmark Co. downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Friday, April 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus 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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