BlackRock Advisors LLC cut its position in Manhattan Associates Inc. (NASDAQ:MANH) by 12.0% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 282,891 shares of the company’s stock after selling 38,627 shares during the period. BlackRock Advisors LLC owned 0.40% of Manhattan Associates worth $18,142,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its position in Manhattan Associates by 65.8% in the first quarter. JPMorgan Chase & Co. now owns 68,072 shares of the company’s stock worth $3,870,000 after buying an additional 27,008 shares during the period. Columbia Partners L L C Investment Management raised its position in Manhattan Associates by 1.4% in the first quarter. Columbia Partners L L C Investment Management now owns 234,205 shares of the company’s stock worth $13,319,000 after buying an additional 3,145 shares during the period. BlackRock Japan Co. Ltd raised its position in Manhattan Associates by 7.0% in the first quarter. BlackRock Japan Co. Ltd now owns 29,626 shares of the company’s stock worth $1,685,000 after buying an additional 1,939 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in Manhattan Associates by 2.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,396,135 shares of the company’s stock worth $136,268,000 after buying an additional 68,457 shares during the period. Finally, BlackRock Group LTD raised its position in Manhattan Associates by 39.3% in the first quarter. BlackRock Group LTD now owns 126,018 shares of the company’s stock worth $7,166,000 after buying an additional 35,582 shares during the period. Institutional investors and hedge funds own 99.71% of the company’s stock.
Manhattan Associates Inc. (NASDAQ:MANH) opened at 58.21 on Wednesday. The company’s 50 day moving average is $59.50 and its 200-day moving average is $60.87. Manhattan Associates Inc. has a 52-week low of $44.14 and a 52-week high of $77.75. The company has a market capitalization of $4.17 billion, a price-to-earnings ratio of 36.84 and a beta of 1.30.
Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, July 19th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.05. Manhattan Associates had a net margin of 19.56% and a return on equity of 62.72%. The company had revenue of $154.90 million for the quarter, compared to analysts’ expectations of $153.75 million. During the same quarter last year, the business earned $0.37 EPS. Equities analysts anticipate that Manhattan Associates Inc. will post $1.79 EPS for the current fiscal year.
A number of research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Wednesday, June 22nd. Brean Capital reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Manhattan Associates in a research note on Wednesday, August 3rd. Finally, Raymond James Financial Inc. reaffirmed an “outperform” rating and issued a $74.00 price objective (down from $75.00) on shares of Manhattan Associates in a research note on Friday, July 15th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $72.17.
About Manhattan Associates
Manhattan Associates, Inc (Manhattan) is a developer and provider of supply chain commerce solutions. The Company has 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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