Suntrust Banks Inc. bought a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,945 shares of the software maker’s stock, valued at approximately $236,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in Manhattan Associates by 22.6% during the second quarter. JPMorgan Chase & Co. now owns 1,774,595 shares of the software maker’s stock worth $85,288,000 after buying an additional 327,370 shares during the last quarter. Royce & Associates LP acquired a new position in Manhattan Associates during the second quarter worth $721,000. BlackRock Inc. increased its holdings in Manhattan Associates by 14,241.7% during the first quarter. BlackRock Inc. now owns 5,768,519 shares of the software maker’s stock worth $300,250,000 after buying an additional 5,728,297 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in Manhattan Associates by 93.0% during the second quarter. BNP Paribas Arbitrage SA now owns 30,057 shares of the software maker’s stock worth $1,445,000 after buying an additional 14,482 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC increased its holdings in Manhattan Associates by 219.8% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,868,470 shares of the software maker’s stock worth $89,799,000 after buying an additional 1,284,125 shares during the last quarter.
Manhattan Associates, Inc. (MANH) opened at 46.96 on Wednesday. Manhattan Associates, Inc. has a one year low of $40.83 and a one year high of $59.60. The firm has a market capitalization of $3.24 billion, a P/E ratio of 27.13 and a beta of 1.12. The company’s 50-day moving average is $43.57 and its 200-day moving average is $45.67.
Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Thursday, July 20th. The software maker reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. Manhattan Associates had a return on equity of 75.58% and a net margin of 20.55%. The business had revenue of $154.10 million for the quarter, compared to analysts’ expectations of $153.80 million. During the same period last year, the business earned $0.49 EPS. The business’s revenue was down .5% on a year-over-year basis. Equities analysts forecast that Manhattan Associates, Inc. will post $1.87 earnings per share for the current fiscal year.
A number of equities analysts recently weighed in on the stock. BidaskClub downgraded shares of Manhattan Associates from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 9th. KeyCorp restated a “hold” rating on shares of Manhattan Associates in a report on Tuesday. Zacks Investment Research downgraded shares of Manhattan Associates from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. Finally, SunTrust Banks, Inc. assumed coverage on shares of Manhattan Associates in a report on Monday, June 26th. They set a “hold” rating and a $45.00 target price on the stock. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Manhattan Associates currently has an average rating of “Hold” and an average target price of $65.00.
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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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