Manhattan Associates (MANH) Stock Price Down 5.1%

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Manhattan Associates, Inc. (NASDAQ:MANH) fell 5.1% during mid-day trading on Monday . The company traded as low as $63.55 and last traded at $63.70. 1,141,235 shares changed hands during trading, an increase of 156% from the average session volume of 445,014 shares. The stock had previously closed at $67.13.

A number of research firms recently issued reports on MANH. Zacks Investment Research downgraded shares of Manhattan Associates from a “buy” rating to a “sell” rating in a research note on Saturday, April 27th. SunTrust Banks raised shares of Manhattan Associates from a “hold” rating to a “buy” rating and set a $59.02 price target on the stock in a research note on Monday, April 22nd. TheStreet raised shares of Manhattan Associates from a “c+” rating to a “b-” rating in a research note on Friday, March 1st. BidaskClub raised shares of Manhattan Associates from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 13th. Finally, ValuEngine downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, February 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $64.67.

The company has a market cap of $4.29 billion, a PE ratio of 40.32 and a beta of 1.57.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, April 23rd. The software maker reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.02). The business had revenue of $148.40 million for the quarter, compared to analysts’ expectations of $137.55 million. Manhattan Associates had a net margin of 17.85% and a return on equity of 73.80%. Manhattan Associates’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.37 EPS. Equities analysts expect that Manhattan Associates, Inc. will post 1.09 EPS for the current year.

In other news, Director John J. Huntz, Jr. sold 2,106 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $53.76, for a total value of $113,218.56. Following the sale, the director now owns 70,530 shares of the company’s stock, valued at $3,791,692.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Bruce Richards sold 5,454 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $55.21, for a total transaction of $301,115.34. The disclosure for this sale can be found here. In the last three months, insiders sold 10,310 shares of company stock worth $562,834. Insiders own 0.68% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Capital Insight Partners LLC raised its stake in shares of Manhattan Associates by 1.2% in the first quarter. Capital Insight Partners LLC now owns 21,023 shares of the software maker’s stock valued at $1,159,000 after acquiring an additional 240 shares during the period. Royce & Associates LP raised its stake in shares of Manhattan Associates by 34.2% in the fourth quarter. Royce & Associates LP now owns 989,722 shares of the software maker’s stock valued at $41,935,000 after acquiring an additional 252,203 shares during the period. Morgan Stanley raised its stake in shares of Manhattan Associates by 95.1% in the third quarter. Morgan Stanley now owns 182,441 shares of the software maker’s stock valued at $9,961,000 after acquiring an additional 88,940 shares during the period. Mackenzie Financial Corp purchased a new stake in shares of Manhattan Associates in the fourth quarter valued at $4,177,000. Finally, Alps Advisors Inc. raised its stake in shares of Manhattan Associates by 1.0% in the fourth quarter. Alps Advisors Inc. now owns 28,062 shares of the software maker’s stock valued at $1,189,000 after acquiring an additional 291 shares during the period.

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Manhattan Associates Company Profile (NASDAQ:MANH)

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 offers Manhattan SCALE, a portfolio of logistics execution solutions that provide trading partner management, yard management, optimization, warehouse management, and transportation execution services; and Manhattan Active, a set of enterprise and store omni-channel solutions.

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