Retirement Systems of Alabama decreased its position in shares of Manhattan Associates Inc. (NASDAQ:MANH) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 93,054 shares of the company’s stock after selling 1,074 shares during the period. Retirement Systems of Alabama’s holdings in Manhattan Associates were worth $5,968,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in MANH. Quadrature Capital Ltd purchased a new stake in Manhattan Associates during the first quarter worth $1,278,000. Lazard Asset Management LLC increased its stake in Manhattan Associates by 695.0% in the first quarter. Lazard Asset Management LLC now owns 49,094 shares of the company’s stock worth $2,791,000 after buying an additional 42,919 shares during the last quarter. State Street Corp increased its stake in Manhattan Associates by 1.4% in the first quarter. State Street Corp now owns 2,440,798 shares of the company’s stock worth $138,804,000 after buying an additional 34,235 shares during the last quarter. Gardner Lewis Asset Management L P purchased a new stake in Manhattan Associates during the first quarter worth $1,853,000. Finally, Credit Agricole S A increased its stake in Manhattan Associates by 333.1% in the first quarter. Credit Agricole S A now owns 110,000 shares of the company’s stock worth $6,256,000 after buying an additional 84,600 shares during the last quarter. Institutional investors and hedge funds own 99.71% of the company’s stock.
Shares of Manhattan Associates Inc. (NASDAQ:MANH) traded up 0.82% on Wednesday, reaching $56.45. The company had a trading volume of 465,991 shares. The stock’s 50 day moving average is $58.87 and its 200 day moving average is $60.91. Manhattan Associates Inc. has a 52 week low of $44.14 and a 52 week high of $77.75. The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of 35.73 and a beta of 1.31.
Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Tuesday, July 19th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.05. Manhattan Associates had a net margin of 19.56% and a return on equity of 62.72%. The firm had revenue of $154.90 million for the quarter, compared to the consensus estimate of $153.75 million. During the same period last year, the firm earned $0.37 earnings per share. On average, equities analysts anticipate that Manhattan Associates Inc. will post $1.79 EPS for the current year.
A number of equities research analysts have weighed in on the company. Zacks Investment Research downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Wednesday, June 22nd. Raymond James Financial Inc. restated an “outperform” rating and set a $74.00 price target (down previously from $75.00) on shares of Manhattan Associates in a research report on Friday, July 15th. Finally, Brean Capital reiterated a “buy” rating and issued a $75.00 price objective on shares of Manhattan Associates in a report on Wednesday, July 20th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently 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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