M&T Bank Corp lifted its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 48.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,867 shares of the software maker’s stock after purchasing an additional 2,582 shares during the quarter. M&T Bank Corp’s holdings in Manhattan Associates were worth $329,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. BB&T Investment Services Inc. boosted its holdings in shares of Manhattan Associates by 128.5% in the 4th quarter. BB&T Investment Services Inc. now owns 2,098 shares of the software maker’s stock worth $106,000 after purchasing an additional 1,180 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Manhattan Associates by 45.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,719 shares of the software maker’s stock valued at $184,000 after acquiring an additional 1,165 shares during the last quarter. Advisory Services Network LLC lifted its stake in shares of Manhattan Associates by 2,191.1% in the 4th quarter. Advisory Services Network LLC now owns 4,651 shares of the software maker’s stock valued at $230,000 after acquiring an additional 4,448 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Manhattan Associates in the 4th quarter valued at about $247,000. Finally, Elkfork Partners LLC bought a new stake in shares of Manhattan Associates in the 4th quarter valued at about $323,000.
A number of equities research analysts have recently weighed in on the company. BidaskClub lowered Manhattan Associates from a “hold” rating to a “sell” rating in a research note on Wednesday, February 28th. ValuEngine lowered Manhattan Associates from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Finally, TheStreet lowered Manhattan Associates from a “b-” rating to a “c+” rating in a research note on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $55.00.
Manhattan Associates opened at $43.65 on Friday, according to MarketBeat. Manhattan Associates, Inc. has a 1-year low of $39.10 and a 1-year high of $54.21. The stock has a market capitalization of $2.95 billion, a PE ratio of 26.45 and a beta of 1.25.
Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, April 24th. The software maker reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. Manhattan Associates had a return on equity of 68.51% and a net margin of 19.07%. The company had revenue of $130.60 million during the quarter, compared to analyst estimates of $129.92 million. During the same quarter in the previous year, the company posted $0.42 EPS. Manhattan Associates’s revenue for the quarter was down 9.0% on a year-over-year basis. analysts expect that Manhattan Associates, Inc. will post 1.27 earnings per share for the current year.
Manhattan Associates declared that its board has approved a share repurchase plan on Tuesday, February 6th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the software maker to reacquire shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
In other Manhattan Associates news, CFO Dennis B. Story sold 16,280 shares of the company’s stock in a transaction that occurred on Friday, May 4th. The stock was sold at an average price of $43.13, for a total transaction of $702,156.40. Following the completion of the transaction, the chief financial officer now owns 63,060 shares of the company’s stock, valued at approximately $2,719,777.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Bruce Richards sold 5,600 shares of the company’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $45.07, for a total value of $252,392.00. Following the transaction, the vice president now directly owns 28,560 shares of the company’s stock, valued at approximately $1,287,199.20. The disclosure for this sale can be found here. In the last three months, insiders sold 25,472 shares of company stock valued at $1,118,056. 0.99% 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 provides supply chain solutions, including distribution management, transportation management, and visibility solutions; omni-channel solutions; and inventory optimization and planning solutions.
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