Manhattan Associates Inc. (MANH) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS
Manhattan Associates Inc. (NASDAQ:MANH) issued its earnings results on Tuesday. The company reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.04. Manhattan Associates had a return on equity of 62.72% and a net margin of 19.56%. The company earned $152.21 million during the quarter, compared to the consensus estimate of $156.15 million. During the same period in the previous year, the company posted $0.42 EPS. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. Manhattan Associates updated its FY16 guidance to $1.82-1.84 EPS.
Manhattan Associates (NASDAQ:MANH) traded up 1.908% during mid-day trading on Tuesday, reaching $59.005. The company had a trading volume of 1,208,175 shares. The stock has a 50-day moving average of $58.55 and a 200 day moving average of $60.94. Manhattan Associates has a 12-month low of $44.14 and a 12-month high of $77.75. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of 37.345 and a beta of 1.31.
Several brokerages have recently commented on MANH. Zacks Investment Research downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Wednesday, September 21st. Raymond James Financial Inc. reiterated an “outperform” rating and set a $74.00 target price (down from $75.00) on shares of Manhattan Associates in a research note on Friday, July 15th. Finally, Brean Capital reiterated a “buy” rating and set a $75.00 target price on shares of Manhattan Associates in a research note on Thursday, October 13th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $72.17.
Several hedge funds have recently modified their holdings of the company. American Century Companies Inc. increased its stake in shares of Manhattan Associates by 32.4% in the second quarter. American Century Companies Inc. now owns 187,306 shares of the company’s stock valued at $12,012,000 after buying an additional 45,820 shares during the period. BlackRock Inc. increased its stake in shares of Manhattan Associates by 61.9% in the second quarter. BlackRock Inc. now owns 128,189 shares of the company’s stock worth $8,221,000 after buying an additional 49,006 shares during the last quarter. BlackRock Group LTD increased its stake in shares of Manhattan Associates by 19.2% in the second quarter. BlackRock Group LTD now owns 150,180 shares of the company’s stock worth $9,632,000 after buying an additional 24,162 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Manhattan Associates by 4.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,501,847 shares of the company’s stock worth $160,443,000 after buying an additional 105,712 shares during the last quarter. Finally, US Bancorp DE increased its stake in shares of Manhattan Associates by 1,569.6% in the second quarter. US Bancorp DE now owns 22,389 shares of the company’s stock worth $1,436,000 after buying an additional 21,048 shares during the last quarter. 99.62% of the stock is owned by hedge funds and other institutional investors.
About Manhattan Associates
Manhattan Associates, Inc (Manhattan) is a developer and provider of supply chain commerce solutions. The Company has 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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