Manhattan Associates, Inc. (MANH) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA decreased its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 38.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 29,591 shares of the software maker’s stock after selling 18,264 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Manhattan Associates were worth $1,540,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of MANH. Brown Capital Management LLC boosted its stake in shares of Manhattan Associates by 3.9% in the first quarter. Brown Capital Management LLC now owns 6,168,645 shares of the software maker’s stock worth $321,078,000 after buying an additional 229,639 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in shares of Manhattan Associates by 6.3% in the first quarter. Neuberger Berman Group LLC now owns 4,510,260 shares of the software maker’s stock worth $234,759,000 after buying an additional 269,088 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Manhattan Associates by 261.2% in the first quarter. JPMorgan Chase & Co. now owns 1,447,225 shares of the software maker’s stock worth $75,328,000 after buying an additional 1,046,565 shares during the last quarter. Congress Asset Management Co. MA boosted its stake in shares of Manhattan Associates by 24.3% in the first quarter. Congress Asset Management Co. MA now owns 1,111,739 shares of the software maker’s stock worth $57,866,000 after buying an additional 217,282 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Manhattan Associates during the fourth quarter worth approximately $48,395,000.

Shares of Manhattan Associates, Inc. (NASDAQ:MANH) opened at 48.37 on Tuesday. Manhattan Associates, Inc. has a 1-year low of $44.83 and a 1-year high of $68.00. The firm has a market cap of $3.36 billion, a PE ratio of 27.77 and a beta of 1.11. The company has a 50-day moving average of $46.62 and a 200-day moving average of $49.49.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Thursday, April 20th. The software maker reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.04. Manhattan Associates had a return on equity of 73.76% and a net margin of 20.89%. The business had revenue of $143.49 million during the quarter, compared to analysts’ expectations of $146.49 million. During the same quarter in the prior year, the business earned $0.42 earnings per share. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. Analysts predict that Manhattan Associates, Inc. will post $1.90 earnings per share for the current fiscal year.

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MANH has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Manhattan Associates from a “sell” rating to a “hold” rating in a research note on Wednesday, April 5th. SunTrust Banks, Inc. initiated coverage on shares of Manhattan Associates in a research note on Monday. They set a “hold” rating on the stock. BidaskClub cut shares of Manhattan Associates from a “hold” rating to a “sell” rating in a research note on Friday, June 9th. Finally, Benchmark Co. cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Friday, April 21st. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $66.75.

About Manhattan Associates

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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Institutional Ownership by Quarter for Manhattan Associates (NASDAQ:MANH)

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