Turtle Creek Asset Management Inc. decreased its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 67.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,900 shares of the software maker’s stock after selling 22,300 shares during the quarter. Manhattan Associates accounts for approximately 0.1% of Turtle Creek Asset Management Inc.’s portfolio, making the stock its 18th largest position. Turtle Creek Asset Management Inc.’s holdings in Manhattan Associates were worth $1,397,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC boosted its stake in 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 in the last quarter. Koch Industries Inc. boosted its stake in Manhattan Associates by 5,389.1% in the second quarter. Koch Industries Inc. now owns 729,227 shares of the software maker’s stock worth $714,000 after buying an additional 715,942 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Manhattan Associates by 116.2% in the second quarter. Wells Fargo & Company MN now owns 1,066,350 shares of the software maker’s stock worth $51,249,000 after buying an additional 573,226 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Manhattan Associates by 756.0% in the third quarter. Russell Investments Group Ltd. now owns 575,442 shares of the software maker’s stock worth $23,921,000 after buying an additional 508,215 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in Manhattan Associates by 1,656.6% in the second quarter. Nordea Investment Management AB now owns 488,967 shares of the software maker’s stock worth $23,500,000 after buying an additional 461,131 shares in the last quarter.
Several analysts have issued reports on the company. KeyCorp reaffirmed a “hold” rating on shares of Manhattan Associates in a research note on Tuesday, October 17th. Zacks Investment Research lowered Manhattan Associates from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. BidaskClub lowered Manhattan Associates from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Finally, SunTrust Banks raised Manhattan Associates from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Tuesday, October 3rd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Manhattan Associates presently has a consensus rating of “Hold” and a consensus target price of $65.00.
Shares of Manhattan Associates, Inc. (MANH) opened at $44.38 on Wednesday. The firm has a market capitalization of $3,084.76, a P/E ratio of 25.28 and a beta of 1.15. Manhattan Associates, Inc. has a 52 week low of $40.75 and a 52 week high of $55.74.
Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Tuesday, October 24th. The software maker reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. The firm had revenue of $152.88 million during the quarter, compared to analyst estimates of $150.30 million. Manhattan Associates had a return on equity of 74.19% and a net margin of 20.38%. The business’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.50 earnings per share. analysts anticipate that Manhattan Associates, Inc. will post 1.75 earnings per share for the current fiscal year.
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Manhattan Associates Profile
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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