Global Endowment Management LP bought a new position in Manhattan Associates, Inc. (NASDAQ:MANH) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 7,200 shares of the software maker’s stock, valued at approximately $394,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Harvest Fund Management Co. Ltd acquired a new position in shares of Manhattan Associates in the 3rd quarter worth $104,000. Transamerica Financial Advisors Inc. acquired a new position in shares of Manhattan Associates in the 2nd quarter worth $111,000. Macquarie Group Ltd. grew its holdings in shares of Manhattan Associates by 366.7% in the 2nd quarter. Macquarie Group Ltd. now owns 2,800 shares of the software maker’s stock worth $132,000 after acquiring an additional 2,200 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of Manhattan Associates by 2,378.4% in the 3rd quarter. Bessemer Group Inc. now owns 3,098 shares of the software maker’s stock worth $169,000 after acquiring an additional 2,973 shares during the last quarter. Finally, New England Asset Management Inc. acquired a new position in shares of Manhattan Associates in the 2nd quarter worth $198,000.

A number of brokerages recently issued reports on MANH. ValuEngine upgraded Manhattan Associates from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. BidaskClub cut Manhattan Associates from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. Zacks Investment Research cut Manhattan Associates from a “hold” rating to a “sell” rating in a research report on Friday, July 27th. Benchmark reaffirmed a “buy” rating and issued a $65.00 target price (up previously from $55.00) on shares of Manhattan Associates in a research report on Friday, September 14th. Finally, SunTrust Banks cut Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Wednesday, September 26th. They noted that the move was a valuation call. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Manhattan Associates currently has a consensus rating of “Buy” and an average price target of $54.00.

In other news, Director John J. Huntz, Jr. sold 2,000 shares of the firm’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $56.42, for a total value of $112,840.00. Following the completion of the sale, the director now owns 72,636 shares of the company’s stock, valued at $4,098,123.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.99% of the company’s stock.

Shares of Manhattan Associates stock opened at $47.54 on Tuesday. The firm has a market capitalization of $3.28 billion, a PE ratio of 27.64 and a beta of 1.27. Manhattan Associates, Inc. has a 12 month low of $39.10 and a 12 month high of $62.39.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, October 23rd. The software maker reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.09. The business had revenue of $142.40 million during the quarter, compared to analysts’ expectations of $142.38 million. Manhattan Associates had a return on equity of 71.67% and a net margin of 18.48%. Manhattan Associates’s revenue was down 6.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.51 earnings per share. Research analysts expect that Manhattan Associates, Inc. will post 1.48 EPS for the current year.

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Manhattan Associates Profile

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations for retailers, wholesalers, manufacturers, logistics providers, and other organizations. The company provides supply chain solutions, including distribution management, transportation management, and visibility solutions; omni-channel solutions; and inventory optimization and planning solutions.

Read More: What is Considered a Good Return on Equity (ROE)?

Institutional Ownership by Quarter for Manhattan Associates (NASDAQ:MANH)

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