Louisiana State Employees Retirement System trimmed its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 5.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,500 shares of the software maker’s stock after selling 900 shares during the period. Louisiana State Employees Retirement System’s holdings in Manhattan Associates were worth $1,177,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Truewealth LLC bought a new stake in Manhattan Associates in the second quarter worth $25,000. Manchester Capital Management LLC purchased a new position in shares of Manhattan Associates in the first quarter valued at about $60,000. Quantamental Technologies LLC increased its position in shares of Manhattan Associates by 23.7% in the first quarter. Quantamental Technologies LLC now owns 1,677 shares of the software maker’s stock valued at $92,000 after acquiring an additional 321 shares during the period. Zions Bancorporation N.A. purchased a new position in shares of Manhattan Associates in the first quarter valued at about $195,000. Finally, World Asset Management Inc purchased a new position in shares of Manhattan Associates in the first quarter valued at about $204,000.
Several brokerages recently issued reports on MANH. ValuEngine cut shares of Manhattan Associates from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Rosenblatt Securities assumed coverage on shares of Manhattan Associates in a research note on Thursday. They set a “buy” rating and a $100.00 price objective on the stock. Benchmark reiterated a “buy” rating and issued a $90.00 target price (up previously from $75.00) on shares of Manhattan Associates in a research note on Wednesday, July 24th. Zacks Investment Research upgraded shares of Manhattan Associates from a “hold” rating to a “strong-buy” rating and set a $100.00 target price on the stock in a research note on Thursday, August 1st. Finally, BidaskClub upgraded shares of Manhattan Associates from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 16th. Four research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Manhattan Associates presently has a consensus rating of “Buy” and an average price target of $95.50.
Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, July 23rd. The software maker reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.17. The firm had revenue of $154.30 million during the quarter, compared to analysts’ expectations of $146.00 million. Manhattan Associates had a net margin of 16.33% and a return on equity of 66.00%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.47 earnings per share. As a group, equities analysts forecast that Manhattan Associates, Inc. will post 1.11 earnings per share for the current year.
In other Manhattan Associates news, CEO Eddie Capel sold 40,000 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $87.48, for a total transaction of $3,499,200.00. Following the completion of the transaction, the chief executive officer now owns 261,357 shares in the company, valued at $22,863,510.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Dennis B. Story sold 10,600 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $85.00, for a total transaction of $901,000.00. Following the transaction, the chief financial officer now owns 124,533 shares of the company’s stock, valued at approximately $10,585,305. The disclosure for this sale can be found here. Insiders have sold 54,100 shares of company stock valued at $4,697,840 over the last ninety days. 0.68% of the stock is currently owned by corporate insiders.
Manhattan Associates Profile
Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations for retailers, wholesalers, manufacturers, logistics providers, and other organizations. The company offers Manhattan SCALE, a portfolio of logistics execution solutions that provide trading partner management, yard management, optimization, warehouse management, and transportation execution services; and Manhattan Active, a set of enterprise and store omni-channel solutions.
Further Reading: Trading signals using Bollinger bands
Receive News & Ratings for Manhattan Associates Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manhattan Associates and related companies with MarketBeat.com's FREE daily email newsletter.