Chicago Equity Partners LLC lifted its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 22.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,000 shares of the software maker’s stock after buying an additional 9,810 shares during the quarter. Chicago Equity Partners LLC owned about 0.08% of Manhattan Associates worth $2,894,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Summit Global Investments bought a new position in shares of Manhattan Associates in the second quarter valued at about $802,000. Dupont Capital Management Corp bought a new position in shares of Manhattan Associates in the second quarter valued at about $1,741,000. BlackRock Inc. raised its holdings in shares of Manhattan Associates by 1.7% in the second quarter. BlackRock Inc. now owns 5,994,696 shares of the software maker’s stock valued at $281,811,000 after buying an additional 98,594 shares during the last quarter. Royce & Associates LP raised its holdings in shares of Manhattan Associates by 13.9% in the second quarter. Royce & Associates LP now owns 632,510 shares of the software maker’s stock valued at $29,734,000 after buying an additional 77,120 shares during the last quarter. Finally, Capital Fund Management S.A. raised its holdings in shares of Manhattan Associates by 61.6% in the second quarter. Capital Fund Management S.A. now owns 212,611 shares of the software maker’s stock valued at $9,995,000 after buying an additional 81,022 shares during the last quarter.
MANH has been the subject of a number of research reports. ValuEngine upgraded Manhattan Associates from a “hold” rating to a “buy” rating in a research report on Tuesday, July 24th. BidaskClub lowered Manhattan Associates from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. Zacks Investment Research lowered Manhattan Associates from a “hold” rating to a “sell” rating in a research report on Friday, July 27th. Benchmark reiterated a “buy” rating and issued a $65.00 price objective (up from $55.00) on shares of Manhattan Associates in a research report on Friday, September 14th. Finally, SunTrust Banks lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Wednesday, September 26th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Manhattan Associates presently has an average rating of “Buy” and an average price target of $54.00.
In other news, Director Edmond Eger sold 2,820 shares of the business’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $52.59, for a total transaction of $148,303.80. Following the completion of the transaction, the director now directly owns 9,376 shares in the company, valued at approximately $493,083.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John J. Huntz, Jr. sold 2,000 shares of the business’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $56.42, for a total value of $112,840.00. Following the transaction, the director now owns 72,636 shares of the company’s stock, valued at $4,098,123.12. The disclosure for this sale can be found here. 0.99% of the stock is currently owned by insiders.
Shares of MANH stock opened at $49.80 on Friday. The stock has a market capitalization of $3.13 billion, a P/E ratio of 28.95 and a beta of 1.27. Manhattan Associates, Inc. has a 12 month low of $39.10 and a 12 month high of $62.39.
Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, October 23rd. The software maker reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.09. The company had revenue of $142.40 million during the quarter, compared to analyst estimates of $142.38 million. Manhattan Associates had a return on equity of 71.67% and a net margin of 18.48%. The company’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.51 EPS. Analysts anticipate that Manhattan Associates, Inc. will post 1.48 EPS for the current year.
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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