Sit Investment Associates Inc. decreased its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 51.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,700 shares of the software maker’s stock after selling 16,350 shares during the period. Sit Investment Associates Inc.’s holdings in Manhattan Associates were worth $755,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC raised 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 worth $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 worth about $126,000. Pennsylvania Trust Co bought a new stake in Manhattan Associates during the first quarter worth about $220,000. Investment Centers of America Inc. bought a new stake in Manhattan Associates during the first quarter worth about $222,000. Finally, M&T Bank Corp bought a new stake in Manhattan Associates during the first quarter worth about $225,000.
Shares of Manhattan Associates, Inc. (MANH) traded down 1.75% during trading on Friday, reaching $41.49. The company’s stock had a trading volume of 753,321 shares. The company has a market cap of $2.86 billion, a PE ratio of 23.97 and a beta of 1.15. Manhattan Associates, Inc. has a 12-month low of $41.43 and a 12-month high of $62.14. The company has a 50 day moving average of $44.96 and a 200 day moving average of $47.56.
Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Thursday, July 20th. The software maker reported $0.50 EPS for the quarter, beating the Thomson Reuters’ 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 the consensus estimate of $153.80 million. During the same period in the previous year, the business earned $0.49 earnings per share. The business’s revenue was down .5% on a year-over-year basis. On average, analysts anticipate that Manhattan Associates, Inc. will post $1.87 EPS for the current fiscal year.
Manhattan Associates announced that its Board of Directors has initiated a stock buyback program on Thursday, April 20th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the software maker to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
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A number of research firms recently issued reports on MANH. Benchmark Co. lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Friday, April 21st. BidaskClub upgraded Manhattan Associates from a “sell” rating to a “hold” rating in a research note on Friday, June 16th. Zacks Investment Research lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. Finally, SunTrust Banks, Inc. began coverage on Manhattan Associates in a research note on Monday, June 26th. They issued a “hold” rating and a $45.00 target price on the stock. One 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’s stock. The company presently has an average rating of “Hold” and an average price target 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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