BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp continued to hold its stake in Manhattan Associates, Inc. (NASDAQ:MANH) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 320,000 shares of the software maker’s stock at the end of the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Manhattan Associates were worth $15,379,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC boosted its stake in Manhattan Associates by 20.9% in the first quarter. Acrospire Investment Management LLC now owns 2,177 shares of the software maker’s stock valued at $113,000 after buying an additional 377 shares during the last quarter. Lloyds Banking Group plc bought a new stake in Manhattan Associates during the first quarter valued at about $126,000. Investment Centers of America Inc. bought a new stake in Manhattan Associates during the first quarter valued at about $222,000. M&T Bank Corp bought a new stake in Manhattan Associates during the first quarter valued at about $225,000. Finally, World Asset Management Inc boosted its stake in Manhattan Associates by 0.4% in the second quarter. World Asset Management Inc now owns 5,015 shares of the software maker’s stock valued at $241,000 after buying an additional 19 shares during the last quarter.
Shares of Manhattan Associates, Inc. (NASDAQ MANH) opened at 42.79 on Wednesday. The company has a market cap of $2.95 billion, a PE ratio of 24.72 and a beta of 1.15. Manhattan Associates, Inc. has a 12 month low of $42.50 and a 12 month high of $62.14. The company has a 50-day moving average of $45.41 and a 200 day moving average of $47.71.
Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results on Thursday, July 20th. The software maker reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.02. The business had revenue of $154.10 million during the quarter, compared to analysts’ expectations of $153.80 million. Manhattan Associates had a net margin of 20.55% and a return on equity of 75.58%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.49 EPS. On average, analysts anticipate that Manhattan Associates, Inc. will post $1.87 earnings per share for the current year.
Manhattan Associates announced that its board has approved a stock buyback program on Thursday, April 20th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the software maker to purchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
Several equities research analysts have recently issued reports on the stock. Benchmark Co. cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Friday, April 21st. BidaskClub upgraded shares of Manhattan Associates from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. Zacks Investment Research cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Finally, SunTrust Banks, Inc. assumed coverage on shares of Manhattan Associates in a research report on Monday, June 26th. They set a “hold” rating and a $45.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $59.50.
Manhattan Associates Company Profile
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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