Bank of New York Mellon Corp decreased its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 9.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 929,987 shares of the software maker’s stock after selling 99,443 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.46% of Manhattan Associates worth $46,333,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. FMR LLC raised its position in shares of Manhattan Associates by 21.3% in the fourth quarter. FMR LLC now owns 1,451,830 shares of the software maker’s stock valued at $115,784,000 after purchasing an additional 255,370 shares during the period. Norges Bank bought a new position in Manhattan Associates during the fourth quarter worth $86,109,000. Empowered Funds LLC bought a new position in Manhattan Associates during the fourth quarter worth $1,220,000. Virginia Retirement Systems ET AL increased its position in Manhattan Associates by 5.8% during the fourth quarter. Virginia Retirement Systems ET AL now owns 25,400 shares of the software maker’s stock worth $2,026,000 after acquiring an additional 1,400 shares during the period. Finally, Victory Capital Management Inc. increased its position in Manhattan Associates by 11.7% during the fourth quarter. Victory Capital Management Inc. now owns 52,655 shares of the software maker’s stock worth $4,199,000 after acquiring an additional 5,497 shares during the period.
In other news, VP Bruce Richards sold 5,000 shares of the business’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $71.18, for a total value of $355,900.00. Following the sale, the vice president now owns 39,103 shares in the company, valued at approximately $2,783,351.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.74% of the stock is currently owned by insiders.
Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, April 21st. The software maker reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.07. Manhattan Associates had a net margin of 14.01% and a return on equity of 58.45%. The firm had revenue of $153.90 million for the quarter, compared to the consensus estimate of $152.55 million. During the same quarter in the previous year, the company earned $0.41 earnings per share. The business’s revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts expect that Manhattan Associates, Inc. will post 1.2 EPS for the current fiscal year.
A number of brokerages recently issued reports on MANH. Benchmark boosted their target price on shares of Manhattan Associates from $51.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. BidaskClub raised shares of Manhattan Associates from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 1st. Zacks Investment Research raised shares of Manhattan Associates from a “sell” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Tuesday, April 28th. Rosenblatt Securities boosted their target price on shares of Manhattan Associates from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, SunTrust Banks lifted their price target on shares of Manhattan Associates from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $80.60.
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 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.
Featured Article: What is the price-sales ratio?
Receive News & Ratings for Manhattan Associates Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manhattan Associates and related companies with MarketBeat.com's FREE daily email newsletter.