Global Endowment Management LP Takes Position in Manhattan Associates, Inc. (MANH)
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.
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.
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.
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