Sit Investment Associates Inc. maintained its stake in shares of Manhattan Associates Inc. (NASDAQ:MANH) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,850 shares of the company’s stock at the end of the second quarter. Sit Investment Associates Inc.’s holdings in Manhattan Associates were worth $2,812,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in MANH. Daiwa Securities Group Inc. bought a new stake in shares of Manhattan Associates during the second quarter worth approximately $160,000. Capital Analysts LLC acquired a new position in Manhattan Associates during the second quarter worth about $171,000. LS Investment Advisors LLC boosted its position in Manhattan Associates by 68.6% in the second quarter. LS Investment Advisors LLC now owns 4,359 shares of the company’s stock worth $280,000 after buying an additional 1,773 shares during the last quarter. Adams Diversified Equity Fund Inc. acquired a new position in Manhattan Associates during the second quarter worth about $372,000. Finally, IBM Retirement Fund acquired a new position in Manhattan Associates during the second quarter worth about $464,000. 99.71% of the stock is owned by institutional investors and hedge funds.
Shares of Manhattan Associates Inc. (NASDAQ:MANH) traded up 1.57% during mid-day trading on Monday, hitting $58.27. The stock had a trading volume of 169,495 shares. The company has a market cap of $4.17 billion, a P/E ratio of 36.88 and a beta of 1.31. Manhattan Associates Inc. has a 1-year low of $44.14 and a 1-year high of $77.75. The firm’s 50 day moving average price is $59.06 and its 200 day moving average price is $60.84.
Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, July 19th. The company reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.05. The company earned $154.90 million during the quarter, compared to the consensus estimate of $153.75 million. Manhattan Associates had a return on equity of 62.72% and a net margin of 19.56%. During the same period last year, the business posted $0.37 EPS. Analysts predict that Manhattan Associates Inc. will post $1.79 earnings per share for the current fiscal year.
MANH has been the subject of a number of research analyst reports. Zacks Investment Research cut Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Wednesday, September 21st. Brean Capital reissued a “buy” rating and issued a $75.00 target price on shares of Manhattan Associates in a research note on Wednesday, July 20th. Finally, Raymond James Financial Inc. reissued an “outperform” rating and issued a $74.00 target price (down from $75.00) on shares of Manhattan Associates in a research note on Friday, July 15th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $72.17.
About Manhattan Associates
Manhattan Associates, Inc (Manhattan) is a developer and provider of supply chain commerce solutions. The Company has 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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