US Bancorp DE raised its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 3.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,496 shares of the software maker’s stock after buying an additional 1,755 shares during the period. US Bancorp DE owned approximately 0.07% of Manhattan Associates worth $2,330,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MANH. 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 in the last quarter. Lloyds Banking Group plc purchased a new stake in shares of Manhattan Associates during the first quarter worth $126,000. Investment Centers of America Inc. purchased a new stake in shares of Manhattan Associates during the first quarter worth $222,000. Pennsylvania Trust Co purchased a new stake in shares of Manhattan Associates during the first quarter worth $220,000. Finally, M&T Bank Corp purchased a new stake in shares of Manhattan Associates during the first quarter worth $225,000.
Shares of Manhattan Associates, Inc. (MANH) opened at 41.49 on Friday. The company has a market capitalization of $2.86 billion, a PE ratio of 23.97 and a beta of 1.15. Manhattan Associates, Inc. has a 1-year low of $41.43 and a 1-year high of $62.14. The company’s 50-day moving average price is $44.96 and its 200-day moving average price is $47.56.
Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Thursday, July 20th. The software maker reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $154.10 million for the quarter, compared to analyst estimates of $153.80 million. During the same period in the previous year, the firm earned $0.49 earnings per share. The company’s revenue was down .5% compared to the same quarter last year. On average, equities analysts expect that Manhattan Associates, Inc. will post $1.87 earnings per share for the current fiscal year.
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MANH has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Manhattan Associates from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research report on Thursday, April 27th. Benchmark Co. downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Friday, April 21st. SunTrust Banks, Inc. initiated coverage on shares of Manhattan Associates in a research report on Monday, June 26th. They issued a “hold” rating and a $45.00 price target on the stock. Finally, BidaskClub downgraded shares of Manhattan Associates from a “hold” rating to a “sell” rating in a research report on Friday, June 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Manhattan Associates presently 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.
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