Wells Fargo & Company MN grew its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 4.3% in the fourth quarter, Holdings Channel reports. The fund owned 1,119,628 shares of the software maker’s stock after purchasing an additional 46,497 shares during the period. Wells Fargo & Company MN’s holdings in Manhattan Associates were worth $55,467,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its position in shares of Manhattan Associates by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 102,222 shares of the software maker’s stock worth $4,914,000 after purchasing an additional 454 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Manhattan Associates during the 3rd quarter worth about $295,000. Huntington National Bank increased its position in shares of Manhattan Associates by 16.8% during the 3rd quarter. Huntington National Bank now owns 8,694 shares of the software maker’s stock worth $361,000 after purchasing an additional 1,251 shares during the last quarter. Aperio Group LLC increased its position in shares of Manhattan Associates by 12.5% during the 3rd quarter. Aperio Group LLC now owns 18,690 shares of the software maker’s stock worth $777,000 after purchasing an additional 2,076 shares during the last quarter. Finally, First Quadrant L P CA increased its position in shares of Manhattan Associates by 27.0% during the 3rd quarter. First Quadrant L P CA now owns 16,770 shares of the software maker’s stock worth $697,000 after purchasing an additional 3,570 shares during the last quarter.
A number of brokerages recently issued reports on MANH. TheStreet downgraded Manhattan Associates from a “b-” rating to a “c+” rating in a research report on Tuesday, February 20th. BidaskClub downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Finally, Zacks Investment Research downgraded Manhattan Associates from a “hold” rating to a “sell” rating in a research report on Tuesday, December 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Manhattan Associates has an average rating of “Hold” and a consensus target price of $55.00.
Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, February 6th. The software maker reported $0.45 earnings per share for the quarter, meeting the consensus estimate of $0.45. The company had revenue of $144.09 million during the quarter, compared to the consensus estimate of $144.86 million. Manhattan Associates had a return on equity of 72.02% and a net margin of 19.59%. Manhattan Associates’s revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.46 EPS. research analysts anticipate that Manhattan Associates, Inc. will post 1.29 EPS for the current year.
Manhattan Associates declared that its board has authorized a stock repurchase plan on Tuesday, February 6th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the software maker to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Manhattan Associates Company 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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