Virginia Retirement Systems ET AL acquired a new position in shares of Manhattan Associates Inc. (NASDAQ:MANH) during the second quarter, Holdings Channel reports. The firm acquired 27,600 shares of the company’s stock, valued at approximately $1,770,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. acquired a new position in shares of Manhattan Associates during the second quarter worth about $160,000. Capital Analysts LLC acquired a new position in shares of Manhattan Associates during the second quarter worth about $171,000. Janney Montgomery Scott LLC acquired a new position in shares of Manhattan Associates during the second quarter worth about $201,000. Intrust Bank NA acquired a new position in shares of Manhattan Associates during the second quarter worth about $220,000. Finally, Calvert Investment Management Inc. raised its position in shares of Manhattan Associates by 1.1% in the second quarter. Calvert Investment Management Inc. now owns 3,701 shares of the company’s stock worth $237,000 after buying an additional 39 shares during the period. Institutional investors and hedge funds own 97.82% of the company’s stock.
Shares of Manhattan Associates Inc. (NASDAQ:MANH) opened at 57.72 on Monday. The firm has a market cap of $4.13 billion, a price-to-earnings ratio of 36.53 and a beta of 1.30. Manhattan Associates Inc. has a one year low of $44.14 and a one year high of $77.75. The stock has a 50 day moving average price of $59.54 and a 200 day moving average price of $60.79.
Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, July 19th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.44 by $0.05. The firm earned $154.90 million during the quarter, compared to analysts’ expectations of $153.75 million. Manhattan Associates had a return on equity of 62.72% and a net margin of 19.56%. During the same quarter in the prior year, the firm posted $0.37 EPS. On average, equities research analysts forecast that Manhattan Associates Inc. will post $1.79 EPS for the current year.
A number of brokerages have issued reports on MANH. Zacks Investment Research lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Wednesday, June 22nd. Brean Capital reiterated a “buy” rating and set a $75.00 price target on shares of Manhattan Associates in a research report on Wednesday, August 3rd. Finally, Raymond James Financial Inc. reiterated an “outperform” rating and set a $74.00 price target (down previously from $75.00) on shares of Manhattan Associates in a research report on Friday, July 15th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $72.17.
Manhattan Associates Company Profile
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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