Several other research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Manhattan Associates from a buy rating to a hold rating in a report on Wednesday, September 21st. Raymond James Financial Inc. reaffirmed an outperform rating and issued a $74.00 price objective (down from $75.00) on shares of Manhattan Associates in a report on Friday, July 15th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $72.17.
Shares of Manhattan Associates (NASDAQ:MANH) opened at 59.005 on Thursday. The company has a market cap of $4.23 billion, a PE ratio of 37.345 and a beta of 1.31. Manhattan Associates has a 52 week low of $44.14 and a 52 week high of $77.75. The company has a 50 day moving average of $58.52 and a 200 day moving average of $60.96.
Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Tuesday, October 18th. The company reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.04. The company earned $152.21 million during the quarter, compared to the consensus estimate of $156.15 million. Manhattan Associates had a net margin of 19.56% and a return on equity of 62.72%. Manhattan Associates’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the firm earned $0.42 EPS. On average, analysts expect that Manhattan Associates will post $1.79 EPS for the current year.
A number of hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in Manhattan Associates by 44.9% in the first quarter. Wellington Management Group LLP now owns 878,339 shares of the company’s stock valued at $49,951,000 after buying an additional 272,025 shares in the last quarter. State Street Corp boosted 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 valued at $138,804,000 after buying an additional 34,235 shares during the period. Monarch Partners Asset Management LLC boosted its stake in Manhattan Associates by 17.5% in the second quarter. Monarch Partners Asset Management LLC now owns 264,915 shares of the company’s stock valued at $16,989,000 after buying an additional 39,525 shares during the period. Geode Capital Management LLC boosted its stake in Manhattan Associates by 2.1% in the first quarter. Geode Capital Management LLC now owns 490,552 shares of the company’s stock valued at $27,897,000 after buying an additional 10,200 shares during the period. Finally, Douglas Lane & Associates LLC boosted its stake in Manhattan Associates by 6.2% in the second quarter. Douglas Lane & Associates LLC now owns 383,942 shares of the company’s stock valued at $24,622,000 after buying an additional 22,245 shares during the period. Institutional investors and hedge funds own 99.62% of the company’s stock.
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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