ClariVest Asset Management LLC lowered its stake in Manhattan Associates Inc. (NASDAQ:MANH) by 41.3% during the second quarter, Holdings Channel reports. The institutional investor owned 31,336 shares of the company’s stock after selling 22,069 shares during the period. ClariVest Asset Management LLC’s holdings in Manhattan Associates were worth $2,009,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Quadrature Capital Ltd acquired a new stake in Manhattan Associates during the first quarter valued at approximately $1,278,000. Lazard Asset Management LLC increased its stake in Manhattan Associates by 695.0% in the first quarter. Lazard Asset Management LLC now owns 49,094 shares of the company’s stock valued at $2,791,000 after buying an additional 42,919 shares in the last quarter. State Street Corp increased its stake in Manhattan Associates by 1.4% in the first quarter. State Street Corp now owns 2,440,798 shares of the company’s stock valued at $138,804,000 after buying an additional 34,235 shares in the last quarter. Gardner Lewis Asset Management L P acquired a new stake in Manhattan Associates during the first quarter valued at approximately $1,853,000. Finally, Credit Agricole S A increased its stake in Manhattan Associates by 333.1% in the first quarter. Credit Agricole S A now owns 110,000 shares of the company’s stock valued at $6,256,000 after buying an additional 84,600 shares in the last quarter. Institutional investors and hedge funds own 99.71% of the company’s stock.
Manhattan Associates Inc. (NASDAQ:MANH) traded down 3.34% during mid-day trading on Tuesday, hitting $56.14. 227,635 shares of the stock traded hands. The company has a 50-day moving average of $58.98 and a 200 day moving average of $60.94. The firm has a market capitalization of $4.02 billion, a P/E ratio of 35.53 and a beta of 1.31. Manhattan Associates Inc. has a 1-year low of $44.14 and a 1-year high of $77.75.
Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, July 19th. The company reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.05. The company had revenue of $154.90 million for the quarter, compared to analysts’ expectations of $153.75 million. Manhattan Associates had a net margin of 19.56% and a return on equity of 62.72%. During the same period in the prior year, the business earned $0.37 earnings per share. On average, equities research analysts anticipate that Manhattan Associates Inc. will post $1.79 EPS for the current year.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Wednesday, June 22nd. Raymond James Financial Inc. restated an “outperform” rating and issued a $74.00 price target (down previously from $75.00) on shares of Manhattan Associates in a research report on Friday, July 15th. Finally, Brean Capital restated a “buy” rating and issued a $75.00 price target on shares of Manhattan Associates in a research report on Wednesday, July 20th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Manhattan Associates currently has a consensus rating of “Buy” and an average 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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