Manhattan Associates, Inc. (MANH) Shares Sold by BlackRock Inc.
BlackRock Inc. trimmed its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 0.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,805,906 shares of the software maker’s stock after selling 54,034 shares during the period. BlackRock Inc. owned approximately 0.08% of Manhattan Associates worth $287,627,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of MANH. Zions Bancorporation bought a new stake in Manhattan Associates during the 3rd quarter worth approximately $128,000. Victory Capital Management Inc. bought a new stake in Manhattan Associates during the 3rd quarter worth approximately $168,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Manhattan Associates by 45.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,719 shares of the software maker’s stock worth $184,000 after purchasing an additional 1,165 shares in the last quarter. Wilkins Investment Counsel Inc. bought a new stake in Manhattan Associates during the 3rd quarter worth approximately $212,000. Finally, Advisory Services Network LLC increased its holdings in Manhattan Associates by 2,191.1% during the 4th quarter. Advisory Services Network LLC now owns 4,651 shares of the software maker’s stock worth $230,000 after purchasing an additional 4,448 shares in the last quarter.
MANH has been the subject of a number of recent research reports. Zacks Investment Research raised Manhattan Associates from a “sell” rating to a “hold” rating in a report on Saturday, November 18th. ValuEngine lowered Manhattan Associates from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. BidaskClub raised Manhattan Associates from a “sell” rating to a “hold” rating in a report on Tuesday, March 6th. Finally, TheStreet lowered Manhattan Associates from a “b-” rating to a “c+” rating in a report on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $55.00.
Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, February 6th. The software maker reported $0.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.45. Manhattan Associates had a return on equity of 72.02% and a net margin of 19.59%. The firm had revenue of $144.09 million for the quarter, compared to the consensus estimate of $144.86 million. During the same quarter in the previous year, the business earned $0.46 EPS. The company’s revenue was down 2.4% compared to the same quarter last year. equities analysts anticipate that Manhattan Associates, Inc. will post 1.29 EPS for the current year.
Manhattan Associates declared that its Board of Directors has authorized a share repurchase program on Tuesday, February 6th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the software maker to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
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Manhattan Associates 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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