The Manufacturers Life Insurance Company trimmed its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 5.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 109,117 shares of the software maker’s stock after selling 5,684 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.16% of Manhattan Associates worth $4,570,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in MANH. UBS Asset Management Americas Inc. lifted its holdings in shares of Manhattan Associates by 68.9% during the fourth quarter. UBS Asset Management Americas Inc. now owns 103,252 shares of the software maker’s stock valued at $5,115,000 after purchasing an additional 42,109 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Manhattan Associates by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 600,239 shares of the software maker’s stock valued at $29,735,000 after purchasing an additional 1,699 shares during the last quarter. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Manhattan Associates during the fourth quarter valued at approximately $1,124,000. Fred Alger Management Inc. lifted its holdings in shares of Manhattan Associates by 14.3% during the fourth quarter. Fred Alger Management Inc. now owns 325,900 shares of the software maker’s stock valued at $16,145,000 after purchasing an additional 40,761 shares during the last quarter. Finally, Clearbridge LLC lifted its holdings in shares of Manhattan Associates by 10.2% during the fourth quarter. Clearbridge LLC now owns 248,481 shares of the software maker’s stock valued at $12,310,000 after purchasing an additional 23,040 shares during the last quarter.
Shares of NASDAQ MANH opened at $50.16 on Friday. Manhattan Associates, Inc. has a twelve month low of $39.10 and a twelve month high of $54.21. The company has a market capitalization of $3.27 billion, a P/E ratio of 29.16 and a beta of 1.25.
Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, April 24th. The software maker reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. Manhattan Associates had a net margin of 19.07% and a return on equity of 68.51%. The firm had revenue of $130.60 million during the quarter, compared to the consensus estimate of $129.92 million. During the same quarter in the previous year, the firm posted $0.42 EPS. The company’s revenue for the quarter was down 9.0% compared to the same quarter last year. analysts anticipate that Manhattan Associates, Inc. will post 1.27 earnings per share for the current year.
In related news, CFO Dennis B. Story sold 16,280 shares of Manhattan Associates stock in a transaction on Friday, May 4th. The shares were sold at an average price of $43.13, for a total transaction of $702,156.40. Following the transaction, the chief financial officer now owns 63,060 shares in the company, valued at approximately $2,719,777.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.99% of the stock is currently owned by insiders.
MANH has been the subject of several recent research reports. BidaskClub lowered shares of Manhattan Associates from a “hold” rating to a “sell” rating in a report on Wednesday, March 28th. ValuEngine upgraded shares of Manhattan Associates from a “sell” rating to a “hold” rating in a report on Thursday, April 19th. Finally, Benchmark upgraded shares of Manhattan Associates from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Friday, June 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Manhattan Associates presently has an average rating of “Hold” and a consensus target price of $60.00.
Manhattan Associates 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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