Manhattan Associates (MANH) Sets New 52-Week High and Low at $39.10

Shares of Manhattan Associates (NASDAQ:MANH) reached a new 52-week high and low on Wednesday . The company traded as low as $39.10 and last traded at $40.88, with a volume of 475842 shares changing hands. The stock had previously closed at $40.07.

MANH has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Manhattan Associates from a “hold” rating to a “sell” rating in a research report on Monday, December 11th. BidaskClub upgraded Manhattan Associates from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 12th. TheStreet downgraded Manhattan Associates from a “b-” rating to a “c+” rating in a research report on Tuesday, February 20th. Finally, ValuEngine downgraded Manhattan Associates from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $55.00.

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The stock has a market cap of $2,846.60, a price-to-earnings ratio of 24.44 and a beta of 1.24.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.45 earnings per share for the quarter, hitting the consensus estimate of $0.45. Manhattan Associates had a return on equity of 72.02% and a net margin of 19.59%. The business had revenue of $144.09 million during the quarter, compared to the consensus estimate of $144.86 million. During the same period in the prior year, the company earned $0.46 EPS. Manhattan Associates’s revenue for the quarter was down 2.4% on a year-over-year basis. sell-side analysts predict that Manhattan Associates will post 1.29 earnings per share for the current fiscal year.

Manhattan Associates announced that its Board of Directors has authorized a stock repurchase program on Tuesday, February 6th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the software maker to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

In related news, Director John J. Huntz, Jr. sold 3,592 shares of the company’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $45.52, for a total transaction of $163,507.84. Following the completion of the sale, the director now directly owns 70,799 shares in the company, valued at approximately $3,222,770.48. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Bruce Richards sold 5,600 shares of the company’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $45.07, for a total value of $252,392.00. Following the sale, the vice president now owns 28,560 shares of the company’s stock, valued at $1,287,199.20. The disclosure for this sale can be found here. 1.01% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. BB&T Investment Services Inc. lifted its position in shares of Manhattan Associates by 128.5% during the 4th quarter. BB&T Investment Services Inc. now owns 2,098 shares of the software maker’s stock worth $106,000 after buying an additional 1,180 shares during the last quarter. Zions Bancorporation bought a new position in Manhattan Associates in the third quarter valued at about $128,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Manhattan Associates by 45.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,719 shares of the software maker’s stock valued at $184,000 after purchasing an additional 1,165 shares during the last quarter. Advisory Services Network LLC raised its position in Manhattan Associates by 2,191.1% in the fourth quarter. Advisory Services Network LLC now owns 4,651 shares of the software maker’s stock valued at $230,000 after purchasing an additional 4,448 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new position in Manhattan Associates in the fourth quarter valued at about $247,000.

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About Manhattan Associates

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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