Fox Run Management L.L.C. lessened its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 46.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 5,032 shares of the software maker’s stock after selling 4,411 shares during the quarter. Fox Run Management L.L.C.’s holdings in Manhattan Associates were worth $275,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Chicago Equity Partners LLC lifted its holdings in shares of Manhattan Associates by 29.3% in the second quarter. Chicago Equity Partners LLC now owns 43,190 shares of the software maker’s stock valued at $2,030,000 after purchasing an additional 9,795 shares in the last quarter. Dupont Capital Management Corp purchased a new stake in shares of Manhattan Associates in the second quarter valued at about $1,741,000. Summit Global Investments purchased a new stake in shares of Manhattan Associates in the second quarter valued at about $802,000. BlackRock Inc. lifted its holdings in shares of Manhattan Associates by 1.7% in the second quarter. BlackRock Inc. now owns 5,994,696 shares of the software maker’s stock valued at $281,811,000 after purchasing an additional 98,594 shares in the last quarter. Finally, Stifel Financial Corp lifted its holdings in shares of Manhattan Associates by 23.0% in the first quarter. Stifel Financial Corp now owns 87,356 shares of the software maker’s stock valued at $3,664,000 after purchasing an additional 16,348 shares in the last quarter.
In other news, VP Bruce Richards sold 7,740 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $49.84, for a total value of $385,761.60. Following the completion of the transaction, the vice president now owns 20,820 shares of the company’s stock, valued at $1,037,668.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Edmond Eger sold 2,820 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $52.59, for a total transaction of $148,303.80. Following the completion of the transaction, the director now directly owns 9,376 shares of the company’s stock, valued at approximately $493,083.84. The disclosure for this sale can be found here. In the last three months, insiders sold 12,560 shares of company stock valued at $646,905. Company insiders own 0.99% of the company’s stock.
NASDAQ:MANH opened at $47.79 on Friday. The company has a market capitalization of $3.59 billion, a PE ratio of 27.73 and a beta of 1.25. Manhattan Associates, Inc. has a 1-year low of $39.10 and a 1-year high of $62.39.
Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, July 24th. The software maker reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. The business had revenue of $141.90 million during the quarter, compared to analyst estimates of $140.42 million. Manhattan Associates had a net margin of 18.87% and a return on equity of 68.14%. The company’s revenue was down 7.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.50 earnings per share. Analysts forecast that Manhattan Associates, Inc. will post 1.36 EPS for the current year.
Several analysts have issued reports on the stock. BidaskClub downgraded shares of Manhattan Associates from a “hold” rating to a “sell” rating in a report on Tuesday. SunTrust Banks lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Wednesday, September 26th. They noted that the move was a valuation call. Benchmark reissued a “buy” rating and issued a $65.00 price objective (up previously from $55.00) on shares of Manhattan Associates in a research report on Friday, September 14th. Zacks Investment Research lowered shares of Manhattan Associates from a “hold” rating to a “sell” rating in a research report on Friday, July 27th. Finally, ValuEngine raised shares of Manhattan Associates from a “hold” rating to a “buy” rating in a research report on Tuesday, July 24th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $65.00.
About Manhattan Associates
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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