Mason Street Advisors LLC bought a new stake in Manhattan Associates Inc. (NASDAQ:MANH) during the second quarter, Holdings Channel reports. The firm bought 32,897 shares of the company’s stock, valued at approximately $2,110,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of MANH. Johnson Financial Group Inc. raised its position in shares of Manhattan Associates by 139.9% in the second quarter. Johnson Financial Group Inc. now owns 2,317 shares of the company’s stock valued at $149,000 after buying an additional 1,351 shares during the last quarter. Daiwa Securities Group Inc. purchased a new position in shares of Manhattan Associates during the second quarter valued at $160,000. Capital Analysts LLC bought a new stake in Manhattan Associates during the second quarter valued at about $171,000. Janney Montgomery Scott LLC bought a new stake in Manhattan Associates during the second quarter valued at about $201,000. Finally, First Allied Advisory Services Inc. bought a new stake in Manhattan Associates during the second quarter valued at about $201,000. 99.65% of the stock is currently owned by institutional investors.
Shares of Manhattan Associates Inc. (NASDAQ:MANH) traded up 0.26% during mid-day trading on Friday, reaching $53.87. The company had a trading volume of 195,760 shares. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 32.47 and a beta of 1.16. The firm’s 50-day moving average is $53.31 and its 200 day moving average is $59.45. Manhattan Associates Inc. has a 12 month low of $44.14 and a 12 month high of $77.75.
Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, October 18th. The company reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.04. The firm had revenue of $152.21 million for the quarter, compared to analyst estimates of $156.15 million. Manhattan Associates had a return on equity of 66.06% and a net margin of 20.17%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.42 earnings per share. On average, equities research analysts predict that Manhattan Associates Inc. will post $1.84 earnings per share for the current year.
Several analysts have recently issued reports on the company. Zacks Investment Research upgraded Manhattan Associates from a “hold” rating to a “strong-buy” rating and set a $60.00 price target for the company in a research note on Friday, October 21st. Brean Capital reiterated a “buy” rating and set a $75.00 price target on shares of Manhattan Associates in a research note on Thursday, October 13th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $67.75.
Manhattan Associates Company Profile
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.