Manhattan Associates Inc. (MANH) Releases Earnings Results, Beats Expectations By $0.04 EPS
Manhattan Associates Inc. (NASDAQ:MANH) announced its earnings results on Tuesday. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.04. Manhattan Associates had a net margin of 19.56% and a return on equity of 62.72%.
Manhattan Associates (NASDAQ:MANH) traded up 1.908% during midday trading on Tuesday, hitting $59.005. The stock had a trading volume of 1,199,815 shares. Manhattan Associates has a 52-week low of $44.14 and a 52-week high of $77.75. The firm has a market capitalization of $4.23 billion, a P/E ratio of 37.345 and a beta of 1.31. The firm has a 50-day moving average of $58.55 and a 200 day moving average of $60.94.
MANH has been the subject of a number of research reports. Zacks Investment Research lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Wednesday, June 22nd. Brean Capital restated a “buy” rating and issued a $75.00 price objective on shares of Manhattan Associates in a research note on Saturday, June 25th. Finally, Raymond James Financial Inc. restated an “outperform” rating and issued a $74.00 price objective (down from $75.00) on shares of Manhattan Associates in a research note on Friday, July 15th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Manhattan Associates currently has an average rating of “Buy” and an average price target of $72.17.
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A number of large investors have recently made changes to their positions in MANH. Fifth Third Bancorp increased its stake in shares of Manhattan Associates by 1.6% in the second quarter. Fifth Third Bancorp now owns 11,082 shares of the company’s stock valued at $711,000 after buying an additional 173 shares during the period. Panagora Asset Management Inc. increased its stake in shares of Manhattan Associates by 7.6% in the second quarter. Panagora Asset Management Inc. now owns 5,597 shares of the company’s stock valued at $359,000 after buying an additional 396 shares during the period. Reliance Trust Co. of Delaware increased its stake in shares of Manhattan Associates by 9.7% in the second quarter. Reliance Trust Co. of Delaware now owns 6,586 shares of the company’s stock valued at $423,000 after buying an additional 582 shares during the period. Trexquant Investment LP increased its stake in shares of Manhattan Associates by 8.8% in the second quarter. Trexquant Investment LP now owns 7,400 shares of the company’s stock valued at $475,000 after buying an additional 600 shares during the period. Finally, BlackRock Japan Co. Ltd increased its stake in shares of Manhattan Associates by 2.6% in the second quarter. BlackRock Japan Co. Ltd now owns 30,383 shares of the company’s stock valued at $1,948,000 after buying an additional 757 shares during the period. Institutional investors own 99.62% of the company’s stock.
Manhattan Associates Company Profile
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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