Louisiana State Employees Retirement System increased its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 1.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,100 shares of the software maker’s stock after buying an additional 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Manhattan Associates were worth $870,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Pennsylvania Trust Co acquired a new position in Manhattan Associates during the first quarter worth about $220,000. Capstone Asset Management Co. boosted its stake in Manhattan Associates by 19.3% in the first quarter. Capstone Asset Management Co. now owns 7,280 shares of the software maker’s stock worth $379,000 after buying an additional 1,180 shares during the last quarter. Atria Investments LLC boosted its stake in Manhattan Associates by 16.9% in the first quarter. Atria Investments LLC now owns 5,650 shares of the software maker’s stock worth $294,000 after buying an additional 818 shares during the last quarter. Cim LLC boosted its stake in Manhattan Associates by 9.1% in the first quarter. Cim LLC now owns 7,794 shares of the software maker’s stock worth $406,000 after buying an additional 650 shares during the last quarter. Finally, Hermes Investment Management Ltd. purchased a new stake in Manhattan Associates during the first quarter worth approximately $44,041,000.
Manhattan Associates, Inc. (NASDAQ MANH) traded up 1.54% on Friday, hitting $43.40. 348,357 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $45.68 and its 200-day moving average price is $47.87. The company has a market cap of $2.99 billion, a PE ratio of 25.07 and a beta of 1.15. Manhattan Associates, Inc. has a 12-month low of $42.50 and a 12-month high of $62.14.
Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Thursday, July 20th. The software maker reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. The company had revenue of $154.10 million for the quarter, compared to analysts’ expectations of $153.80 million. Manhattan Associates had a return on equity of 81.77% and a net margin of 20.20%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.49 earnings per share. Analysts forecast that Manhattan Associates, Inc. will post $1.87 earnings per share for the current year.
Manhattan Associates announced that its board has approved a share buyback program on Thursday, April 20th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the software maker to reacquire up to 1.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
A number of equities research analysts recently commented on MANH shares. Zacks Investment Research raised shares of Manhattan Associates from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research report on Thursday, April 27th. Benchmark Co. cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Friday, April 21st. BidaskClub cut shares of Manhattan Associates from a “hold” rating to a “sell” rating in a research report on Friday, June 9th. Finally, SunTrust Banks, Inc. started coverage on shares of Manhattan Associates in a research report on Monday, June 26th. They set a “hold” rating and a $45.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock has a consensus 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.
What are top analysts saying about Manhattan Associates Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Manhattan Associates Inc. and related companies.