Eagle Asset Management Inc. boosted its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 40.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 916,844 shares of the software maker’s stock after purchasing an additional 262,857 shares during the period. Eagle Asset Management Inc. owned about 1.31% of Manhattan Associates worth $45,490,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the stock. Atlanta Capital Management Co. L L C lifted its position in Manhattan Associates by 2.9% during the third quarter. Atlanta Capital Management Co. L L C now owns 7,912,766 shares of the software maker’s stock valued at $328,933,000 after purchasing an additional 222,359 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its position in Manhattan Associates by 32.9% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,482,575 shares of the software maker’s stock valued at $103,201,000 after purchasing an additional 614,105 shares during the period. State Street Corp lifted its position in Manhattan Associates by 0.3% during the second quarter. State Street Corp now owns 1,867,895 shares of the software maker’s stock valued at $89,771,000 after purchasing an additional 5,533 shares during the period. JPMorgan Chase & Co. lifted its position in Manhattan Associates by 3.8% during the third quarter. JPMorgan Chase & Co. now owns 1,841,197 shares of the software maker’s stock valued at $77,864,000 after purchasing an additional 66,602 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Manhattan Associates by 4.8% during the third quarter. Bank of New York Mellon Corp now owns 1,507,883 shares of the software maker’s stock valued at $62,682,000 after buying an additional 68,844 shares during the last quarter.
A number of analysts have commented on MANH shares. BidaskClub raised shares of Manhattan Associates from a “hold” rating to a “buy” rating in a report on Wednesday, December 27th. Zacks Investment Research raised shares of Manhattan Associates from a “sell” rating to a “hold” rating in a report on Saturday, November 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Manhattan Associates has a consensus rating of “Hold” and a consensus target price of $55.00.
Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, February 6th. The software maker reported $0.45 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.45. Manhattan Associates had a net margin of 19.59% and a return on equity of 72.02%. The business had revenue of $144.09 million during the quarter, compared to analysts’ expectations of $144.86 million. During the same period in the prior year, the company earned $0.46 earnings per share. The firm’s revenue was down 2.4% on a year-over-year basis. analysts predict that Manhattan Associates, Inc. will post 1.29 EPS for the current fiscal year.
Manhattan Associates announced that its Board of Directors has approved a share buyback plan on Tuesday, February 6th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the software maker to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
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Manhattan Associates Company Profile
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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