Stock Traders Purchase High Volume of Call Options on Manhattan Associates (MANH)

Manhattan Associates, Inc. (NASDAQ:MANH) was the target of unusually large options trading on Monday. Stock investors purchased 993 call options on the company. This is an increase of approximately 1,279% compared to the average daily volume of 72 call options.

In other Manhattan Associates news, CEO Eddie Capel sold 23,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $42.04, for a total value of $966,920.00. Following the sale, the chief executive officer now owns 180,057 shares in the company, valued at approximately $7,569,596.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.01% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in Manhattan Associates by 22.6% in the second quarter. JPMorgan Chase & Co. now owns 1,774,595 shares of the software maker’s stock worth $85,288,000 after acquiring an additional 327,370 shares in the last quarter. Royce & Associates LP bought a new position in Manhattan Associates in the second quarter worth approximately $721,000. Nordea Investment Management AB boosted its holdings in Manhattan Associates by 57.9% in the third quarter. Nordea Investment Management AB now owns 772,265 shares of the software maker’s stock worth $32,103,000 after acquiring an additional 283,298 shares in the last quarter. Atlanta Capital Management Co. L L C boosted its holdings in Manhattan Associates by 2.9% in the third quarter. Atlanta Capital Management Co. L L C now owns 7,912,766 shares of the software maker’s stock worth $328,933,000 after acquiring an additional 222,359 shares in the last quarter. Finally, Shell Asset Management Co. boosted its holdings in Manhattan Associates by 747.1% in the third quarter. Shell Asset Management Co. now owns 115,635 shares of the software maker’s stock worth $3,865,000 after acquiring an additional 101,985 shares in the last quarter.

Shares of Manhattan Associates (MANH) opened at $51.41 on Thursday. Manhattan Associates has a 52-week low of $40.75 and a 52-week high of $52.80. The company has a market capitalization of $3,500.00, a PE ratio of 29.55 and a beta of 1.15.

Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, October 24th. The software maker reported $0.51 EPS for the quarter, beating the consensus estimate of $0.49 by $0.02. Manhattan Associates had a return on equity of 74.19% and a net margin of 20.38%. The company had revenue of $152.88 million for the quarter, compared to analyst estimates of $150.30 million. During the same quarter in the prior year, the company earned $0.50 EPS. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. equities analysts forecast that Manhattan Associates will post 1.75 earnings per share for the current year.

A number of equities research analysts have commented on MANH shares. SunTrust Banks upgraded Manhattan Associates from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Tuesday, October 3rd. They noted that the move was a valuation call. Zacks Investment Research lowered Manhattan Associates from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. KeyCorp reiterated a “hold” rating on shares of Manhattan Associates in a research report on Tuesday, October 17th. Finally, BidaskClub upgraded Manhattan Associates from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Manhattan Associates has an average rating of “Hold” and an average price target of $60.00.

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About Manhattan Associates

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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