Great Lakes Advisors LLC decreased its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 8.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 146,030 shares of the software maker’s stock after selling 13,285 shares during the period. Great Lakes Advisors LLC owned approximately 0.22% of Manhattan Associates worth $7,973,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Manhattan Associates by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 6,066,808 shares of the software maker’s stock valued at $331,247,000 after buying an additional 154,467 shares during the period. BlackRock Inc. grew its holdings in shares of Manhattan Associates by 1.7% in the 2nd quarter. BlackRock Inc. now owns 5,994,696 shares of the software maker’s stock valued at $281,811,000 after buying an additional 98,594 shares during the period. Neuberger Berman Group LLC grew its holdings in shares of Manhattan Associates by 1.5% in the 3rd quarter. Neuberger Berman Group LLC now owns 4,750,069 shares of the software maker’s stock valued at $259,354,000 after buying an additional 72,157 shares during the period. RGM Capital LLC grew its holdings in shares of Manhattan Associates by 2.4% in the 2nd quarter. RGM Capital LLC now owns 1,760,380 shares of the software maker’s stock valued at $82,755,000 after buying an additional 41,340 shares during the period. Finally, American Capital Management Inc. boosted its stake in Manhattan Associates by 0.8% in the 3rd quarter. American Capital Management Inc. now owns 1,360,382 shares of the software maker’s stock worth $74,277,000 after purchasing an additional 11,380 shares during the period.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Manhattan Associates from a “hold” rating to a “strong-buy” rating and set a $52.00 target price for the company in a research note on Tuesday, October 30th. BidaskClub raised shares of Manhattan Associates from a “hold” rating to a “buy” rating in a research note on Saturday, November 17th. Benchmark reaffirmed a “buy” rating and issued a $65.00 target price (up from $55.00) on shares of Manhattan Associates in a research note on Friday, September 14th. Finally, SunTrust Banks lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Wednesday, September 26th. They noted that the move was a valuation call. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $54.00.
Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, October 23rd. The software maker reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.09. The firm had revenue of $142.40 million during the quarter, compared to analyst estimates of $142.38 million. Manhattan Associates had a net margin of 18.48% and a return on equity of 71.67%. The company’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.51 EPS. Analysts predict that Manhattan Associates, Inc. will post 1.48 earnings per share for the current year.
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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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