Goldman Sachs Group Inc. reduced its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 604,844 shares of the software maker’s stock after selling 7,377 shares during the period. Goldman Sachs Group Inc. owned 0.89% of Manhattan Associates worth $29,964,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of MANH. Zions Bancorporation purchased a new stake in shares of Manhattan Associates during the third quarter worth about $128,000. Victory Capital Management Inc. purchased a new stake in shares of Manhattan Associates during the third quarter worth about $168,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Manhattan Associates by 45.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,719 shares of the software maker’s stock worth $184,000 after purchasing an additional 1,165 shares during the period. Wilkins Investment Counsel Inc. purchased a new stake in shares of Manhattan Associates during the third quarter worth about $212,000. Finally, Advisory Services Network LLC boosted its holdings in shares of Manhattan Associates by 2,191.1% during the fourth quarter. Advisory Services Network LLC now owns 4,651 shares of the software maker’s stock worth $230,000 after purchasing an additional 4,448 shares during the period.
Shares of Manhattan Associates, Inc. (MANH) opened at $42.98 on Friday. Manhattan Associates, Inc. has a 1-year low of $39.63 and a 1-year high of $54.21. The company has a market cap of $2,977.78, a PE ratio of 25.03 and a beta of 1.26.
Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.45 EPS for the quarter, hitting 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 during the quarter, compared to analyst estimates of $144.86 million. During the same period last year, the business posted $0.46 earnings per share. Manhattan Associates’s quarterly revenue was down 2.4% compared to the same quarter last year. analysts forecast that Manhattan Associates, Inc. will post 1.29 EPS for the current fiscal year.
Manhattan Associates announced that its Board of Directors has approved a stock buyback program on Tuesday, February 6th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the software maker to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
In other Manhattan Associates news, VP Bruce Richards sold 5,600 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $45.07, for a total value of $252,392.00. Following the completion of the sale, the vice president now directly owns 28,560 shares in the company, valued at $1,287,199.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John J. Huntz, Jr. sold 3,592 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $45.52, for a total transaction of $163,507.84. Following the completion of the sale, the director now owns 70,799 shares of the company’s stock, valued at $3,222,770.48. The disclosure for this sale can be found here. Company insiders own 1.01% of the company’s stock.
A number of analysts have recently weighed in on the stock. BidaskClub upgraded shares of Manhattan Associates from a “hold” rating to a “buy” rating in a report on Wednesday, December 27th. Zacks Investment Research lowered shares of Manhattan Associates from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. ValuEngine lowered shares of Manhattan Associates from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Finally, TheStreet lowered shares of Manhattan Associates from a “b-” rating to a “c+” rating in a report on Tuesday, February 20th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $55.00.
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Manhattan Associates 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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