New Amsterdam Partners LLC NY purchased a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 224,089 shares of the software maker’s stock, valued at approximately $10,770,000. Manhattan Associates makes up 2.3% of New Amsterdam Partners LLC NY’s holdings, making the stock its 6th largest position. New Amsterdam Partners LLC NY owned 0.33% of Manhattan Associates at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Manhattan Associates by 14,241.7% in the first quarter. BlackRock Inc. now owns 5,768,519 shares of the software maker’s stock valued at $300,250,000 after buying an additional 5,728,297 shares in the last quarter. MARSHALL WACE ASIA Ltd bought a new position in Manhattan Associates during the first quarter valued at approximately $61,060,000. Marshall Wace North America L.P. bought a new position in Manhattan Associates during the first quarter valued at approximately $61,060,000. JPMorgan Chase & Co. raised its position in Manhattan Associates by 261.2% in the first quarter. JPMorgan Chase & Co. now owns 1,447,225 shares of the software maker’s stock valued at $75,328,000 after buying an additional 1,046,565 shares in the last quarter. Finally, Hermes Investment Management Ltd. bought a new position in Manhattan Associates during the first quarter valued at approximately $44,041,000.
Manhattan Associates, Inc. (MANH) opened at 43.40 on Friday. The firm’s 50 day moving average price is $45.68 and its 200 day moving average price is $47.87. Manhattan Associates, Inc. has a 12 month low of $42.50 and a 12 month high of $62.14. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of 25.07 and a beta of 1.15.
Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Thursday, July 20th. The software maker reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $154.10 million during the quarter, compared to analyst estimates of $153.80 million. Manhattan Associates had a net margin of 20.55% and a return on equity of 75.58%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.49 earnings per share. On average, equities research analysts predict that Manhattan Associates, Inc. will post $1.87 EPS for the current fiscal year.
Manhattan Associates declared that its board has authorized a share repurchase plan on Thursday, April 20th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the software maker to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
MANH has been the subject of several recent research reports. Zacks Investment Research upgraded Manhattan Associates from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research report on Thursday, April 27th. Benchmark Co. lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Friday, April 21st. BidaskClub lowered Manhattan Associates from a “hold” rating to a “sell” rating in a research report on Friday, June 9th. Finally, SunTrust Banks, Inc. initiated coverage on Manhattan Associates in a research report on Monday, June 26th. They issued a “hold” rating and a $45.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Manhattan Associates has a consensus rating of “Hold” and a consensus price target of $59.50.
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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