JPMorgan Chase & Co. grew its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 3.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,841,197 shares of the software maker’s stock after acquiring an additional 66,602 shares during the period. JPMorgan Chase & Co. owned 2.67% of Manhattan Associates worth $77,864,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. raised its stake in shares of Manhattan Associates by 41.1% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,493 shares of the software maker’s stock worth $120,000 after acquiring an additional 726 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Manhattan Associates by 11.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,554 shares of the software maker’s stock worth $123,000 after acquiring an additional 271 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of Manhattan Associates during the third quarter worth approximately $168,000. Riverhead Capital Management LLC raised its stake in shares of Manhattan Associates by 79.0% during the second quarter. Riverhead Capital Management LLC now owns 3,760 shares of the software maker’s stock worth $181,000 after buying an additional 1,660 shares during the last quarter. Finally, TrimTabs Asset Management LLC raised its stake in shares of Manhattan Associates by 105.3% during the second quarter. TrimTabs Asset Management LLC now owns 3,761 shares of the software maker’s stock worth $181,000 after buying an additional 1,929 shares during the last quarter.
A number of equities research analysts recently weighed in on the stock. BidaskClub downgraded shares of Manhattan Associates from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. KeyCorp reissued a “hold” rating on shares of Manhattan Associates in a research note on Tuesday, October 17th. Zacks Investment Research raised shares of Manhattan Associates from a “sell” rating to a “hold” rating in a research note on Saturday, November 18th. Finally, SunTrust Banks raised shares of Manhattan Associates from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Tuesday, October 3rd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $65.00.
Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, October 24th. The software maker reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.02. The business had revenue of $152.88 million during the quarter, compared to the consensus estimate of $150.30 million. Manhattan Associates had a net margin of 20.38% and a return on equity of 74.19%. Manhattan Associates’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.50 earnings per share. equities analysts anticipate that Manhattan Associates, Inc. will post 1.75 EPS for the current fiscal year.
In related news, CEO Eddie Capel sold 23,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $42.04, for a total transaction of $966,920.00. Following the completion of the transaction, the chief executive officer now owns 180,057 shares in the company, valued at $7,569,596.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.01% of the stock is currently owned by insiders.
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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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