Manhattan Associates, Inc. (NASDAQ:MANH) hit a new 52-week low on Friday . The company traded as low as $41.83 and last traded at $41.80, with a volume of 258,137 shares changing hands. The stock had previously closed at $42.23.
A number of equities research analysts have recently weighed in on the company. BidaskClub upgraded Manhattan Associates from a “sell” rating to a “hold” rating in a report on Friday, June 16th. Zacks Investment Research upgraded Manhattan Associates from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a report on Thursday, June 15th. Benchmark Co. downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a report on Friday, April 21st. Finally, SunTrust Banks, Inc. assumed coverage on Manhattan Associates in a report on Monday, June 26th. They issued a “hold” rating and a $45.00 price target 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. Manhattan Associates presently has an average rating of “Hold” and a consensus target price of $59.50.
The company has a market capitalization of $2.88 billion, a PE ratio of 24.15 and a beta of 1.15. The company has a 50-day moving average price of $45.14 and a 200 day moving average price of $47.63.
Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Thursday, July 20th. The software maker reported $0.50 EPS for the quarter, topping 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 quarter last year, the company earned $0.49 EPS. The company’s quarterly revenue was down .5% on a year-over-year basis. Analysts anticipate that Manhattan Associates, Inc. will post $1.87 earnings per share for the current year.
Manhattan Associates declared that its Board of Directors has initiated a share buyback program on Thursday, April 20th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the software maker to purchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Manhattan Associates by 14,241.7% in the first quarter. BlackRock Inc. now owns 5,768,519 shares of the software maker’s stock worth $300,250,000 after buying an additional 5,728,297 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Manhattan Associates by 219.8% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,868,470 shares of the software maker’s stock worth $89,799,000 after buying an additional 1,284,125 shares during the last quarter. MARSHALL WACE ASIA Ltd bought a new position in shares of Manhattan Associates during the first quarter worth about $61,060,000. Marshall Wace North America L.P. bought a new position in shares of Manhattan Associates during the first quarter worth about $61,060,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Manhattan Associates by 261.2% in the first quarter. JPMorgan Chase & Co. now owns 1,447,225 shares of the software maker’s stock worth $75,328,000 after buying an additional 1,046,565 shares during the last quarter.
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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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