West Coast Financial LLC grew its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 5.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 76,833 shares of the software maker’s stock after acquiring an additional 3,842 shares during the quarter. West Coast Financial LLC owned about 0.12% of Manhattan Associates worth $4,195,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in MANH. Transamerica Financial Advisors Inc. acquired a new position in Manhattan Associates during the 2nd quarter worth $111,000. Macquarie Group Ltd. boosted its position in Manhattan Associates by 366.7% during the 2nd quarter. Macquarie Group Ltd. now owns 2,800 shares of the software maker’s stock worth $132,000 after acquiring an additional 2,200 shares during the period. New England Asset Management Inc. acquired a new position in Manhattan Associates during the 2nd quarter worth $198,000. Gratus Capital LLC acquired a new position in Manhattan Associates during the 2nd quarter worth $244,000. Finally, Hartford Investment Management Co. acquired a new position in Manhattan Associates during the 2nd quarter worth $245,000.
A number of research analysts have issued reports on MANH shares. BidaskClub lowered Manhattan Associates from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 22nd. SunTrust Banks lowered Manhattan Associates from a “buy” rating to a “hold” rating in a report on Wednesday, September 26th. They noted that the move was a valuation call. Benchmark restated a “buy” rating and issued a $65.00 price objective (up previously from $55.00) on shares of Manhattan Associates in a report on Friday, September 14th. Zacks Investment Research lowered Manhattan Associates from a “hold” rating to a “sell” rating in a report on Friday, July 27th. Finally, ValuEngine upgraded Manhattan Associates from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Manhattan Associates presently has a consensus rating of “Hold” and an average target price of $65.00.
Shares of Manhattan Associates stock traded down $0.67 during trading on Friday, hitting $47.87. The stock had a trading volume of 19,194 shares, compared to its average volume of 586,711. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 28.39 and a beta of 1.24. Manhattan Associates, Inc. has a fifty-two week low of $39.10 and a fifty-two week high of $62.39.
Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, July 24th. The software maker reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.06. The business had revenue of $141.90 million during the quarter, compared to analyst estimates of $140.42 million. Manhattan Associates had a return on equity of 68.14% and a net margin of 18.87%. The company’s revenue was down 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.50 earnings per share. As a group, equities research analysts expect that Manhattan Associates, Inc. will post 1.36 EPS for the current year.
In other news, Director Edmond Eger sold 2,820 shares of the business’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $52.59, for a total transaction of $148,303.80. Following the sale, the director now directly owns 9,376 shares of the company’s stock, valued at $493,083.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John J. Huntz, Jr. sold 2,000 shares of the business’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $56.42, for a total value of $112,840.00. Following the sale, the director now directly owns 72,636 shares in the company, valued at $4,098,123.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,560 shares of company stock valued at $646,905. Insiders own 0.99% of the company’s stock.
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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