New Amsterdam Partners LLC NY cut its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 9.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 217,670 shares of the software maker’s stock after selling 23,907 shares during the period. Manhattan Associates makes up 3.1% of New Amsterdam Partners LLC NY’s investment portfolio, making the stock its 3rd largest position. New Amsterdam Partners LLC NY’s holdings in Manhattan Associates were worth $11,885,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in MANH. Harvest Fund Management Co. Ltd bought a new position in shares of Manhattan Associates during the 3rd quarter valued at $104,000. Transamerica Financial Advisors Inc. bought a new position in shares of Manhattan Associates during the 2nd quarter valued at $111,000. Macquarie Group Ltd. lifted its holdings in shares of Manhattan Associates by 366.7% during the 2nd quarter. Macquarie Group Ltd. now owns 2,800 shares of the software maker’s stock valued at $132,000 after buying an additional 2,200 shares during the period. New England Asset Management Inc. bought a new position in shares of Manhattan Associates during the 2nd quarter valued at $198,000. Finally, Gratus Capital LLC bought a new position in shares of Manhattan Associates during the 2nd quarter valued at $244,000.
In other Manhattan Associates news, Director Edmond Eger sold 2,820 shares of the stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $52.59, for a total value of $148,303.80. Following the completion of the sale, the director now owns 9,376 shares in the company, valued at approximately $493,083.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John J. Huntz, Jr. sold 2,000 shares of the 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 completion of the sale, the director now owns 72,636 shares of the company’s stock, valued at approximately $4,098,123.12. The disclosure for this sale can be found here. 0.99% of the stock is currently owned by company insiders.
Shares of Manhattan Associates stock opened at $47.87 on Wednesday. Manhattan Associates, Inc. has a one year low of $39.10 and a one year high of $62.39. The firm has a market capitalization of $3.20 billion, a P/E ratio of 27.83 and a beta of 1.27.
Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, October 23rd. The software maker reported $0.49 EPS for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.09. Manhattan Associates had a return on equity of 71.67% and a net margin of 18.48%. The company had revenue of $142.40 million for the quarter, compared to analysts’ expectations of $142.38 million. During the same period last year, the firm earned $0.51 EPS. Manhattan Associates’s revenue for the quarter was down 6.9% compared to the same quarter last year. On average, analysts anticipate that Manhattan Associates, Inc. will post 1.48 earnings per share for the current year.
Several equities analysts have recently weighed in on MANH shares. SunTrust Banks cut 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. BidaskClub cut Manhattan Associates from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. Benchmark reissued a “buy” rating and set a $65.00 price target (up from $55.00) on shares of Manhattan Associates in a report on Friday, September 14th. Zacks Investment Research cut Manhattan Associates from a “hold” rating to a “sell” rating in a report on Friday, July 27th. Finally, ValuEngine raised Manhattan Associates from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $54.00.
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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.
Read More: Stock Symbols and CUSIP Explained
Want to see what other hedge funds are holding MANH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Manhattan Associates, Inc. (NASDAQ:MANH).
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