Convergence Investment Partners LLC Trims Position in Manhattan Associates, Inc. (MANH)

Convergence Investment Partners LLC lowered its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 39.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,556 shares of the software maker’s stock after selling 23,520 shares during the quarter. Convergence Investment Partners LLC owned about 0.05% of Manhattan Associates worth $1,520,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MANH. ING Groep NV acquired a new stake in Manhattan Associates in the 2nd quarter valued at $406,000. NGAM Advisors L.P. grew its position in Manhattan Associates by 157.9% in the 2nd quarter. NGAM Advisors L.P. now owns 71,826 shares of the software maker’s stock valued at $3,451,000 after purchasing an additional 43,974 shares during the period. Janney Montgomery Scott LLC grew its position in Manhattan Associates by 6.2% in the 2nd quarter. Janney Montgomery Scott LLC now owns 30,169 shares of the software maker’s stock valued at $1,450,000 after purchasing an additional 1,752 shares during the period. Great West Life Assurance Co. Can grew its position in Manhattan Associates by 2.5% in the 2nd quarter. Great West Life Assurance Co. Can now owns 42,480 shares of the software maker’s stock valued at $2,041,000 after purchasing an additional 1,018 shares during the period. Finally, World Asset Management Inc grew its position in Manhattan Associates by 0.4% in the 2nd quarter. World Asset Management Inc now owns 5,015 shares of the software maker’s stock valued at $241,000 after purchasing an additional 19 shares during the period.

Manhattan Associates, Inc. (MANH) opened at $44.38 on Wednesday. The stock has a market cap of $3,084.76, a price-to-earnings ratio of 25.28 and a beta of 1.15. Manhattan Associates, Inc. has a fifty-two week low of $40.75 and a fifty-two week high of $55.74.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, October 24th. The software maker reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.02. The firm had revenue of $152.88 million for the quarter, compared to the consensus estimate of $150.30 million. Manhattan Associates had a net margin of 20.38% and a return on equity of 74.19%. The business’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.50 EPS. analysts predict that Manhattan Associates, Inc. will post 1.75 EPS for the current year.

Several research firms recently issued reports on MANH. BidaskClub downgraded shares of Manhattan Associates from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 9th. KeyCorp reissued a “hold” rating on shares of Manhattan Associates in a research report on Tuesday, October 17th. Zacks Investment Research raised shares of Manhattan Associates from a “sell” rating to a “hold” rating in a research report on Saturday, November 18th. Finally, SunTrust Banks raised shares of Manhattan Associates from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Tuesday, October 3rd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Manhattan Associates presently has a consensus rating of “Hold” and an average target price of $65.00.

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

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Manhattan Associates 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.

Institutional Ownership by Quarter for Manhattan Associates (NASDAQ:MANH)

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