Manhattan Associates (NASDAQ:MANH) VP Bruce Richards sold 5,600 shares of the company’s stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $45.07, for a total transaction of $252,392.00. Following the sale, the vice president now directly owns 28,560 shares in the company, valued at approximately $1,287,199.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of MANH traded down $0.25 during midday trading on Friday, hitting $41.78. The stock had a trading volume of 539,453 shares, compared to its average volume of 554,877. Manhattan Associates has a 1 year low of $39.10 and a 1 year high of $54.21. The company has a market cap of $2,791.70, a P/E ratio of 24.29 and a beta of 1.24.
Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, February 6th. The software maker reported $0.45 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. Manhattan Associates had a net margin of 19.59% and a return on equity of 72.02%. The business had revenue of $144.09 million for the quarter, compared to the consensus estimate of $144.86 million. During the same quarter in the prior year, the firm posted $0.46 earnings per share. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. sell-side analysts forecast that Manhattan Associates will post 1.29 EPS for the current year.
Manhattan Associates declared that its board has approved a share buyback program on Tuesday, February 6th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the software maker to purchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
A number of equities research analysts recently issued reports on MANH shares. BidaskClub raised shares of Manhattan Associates from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. TheStreet downgraded shares of Manhattan Associates from a “b-” rating to a “c+” rating in a research note on Tuesday, February 20th. ValuEngine downgraded shares of Manhattan Associates from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Finally, Zacks Investment Research downgraded shares of Manhattan Associates from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. Manhattan Associates currently has a consensus rating of “Hold” and an average target price of $55.00.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Atlanta Capital Management Co. L L C grew its holdings in shares of Manhattan Associates by 2.9% in the third quarter. Atlanta Capital Management Co. L L C now owns 7,912,766 shares of the software maker’s stock worth $328,933,000 after purchasing an additional 222,359 shares during the last quarter. Brown Capital Management LLC grew its holdings in shares of Manhattan Associates by 10.4% in the fourth quarter. Brown Capital Management LLC now owns 7,845,670 shares of the software maker’s stock worth $388,674,000 after purchasing an additional 737,820 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Manhattan Associates by 32.9% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,482,575 shares of the software maker’s stock worth $103,201,000 after purchasing an additional 614,105 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Manhattan Associates by 3.8% in the third quarter. JPMorgan Chase & Co. now owns 1,841,197 shares of the software maker’s stock worth $77,864,000 after purchasing an additional 66,602 shares during the last quarter. Finally, Standard Life Aberdeen plc grew its holdings in shares of Manhattan Associates by 19.9% in the fourth quarter. Standard Life Aberdeen plc now owns 1,633,801 shares of the software maker’s stock worth $80,947,000 after purchasing an additional 270,604 shares during the last quarter.
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Manhattan Associates Company Profile
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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