State of Alaska Department of Revenue decreased its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 6.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,534 shares of the software maker’s stock after selling 525 shares during the quarter. State of Alaska Department of Revenue’s holdings in Manhattan Associates were worth $415,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in MANH. Oregon Public Employees Retirement Fund grew its holdings in Manhattan Associates by 4,137.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,120,220 shares of the software maker’s stock valued at $26,000 after buying an additional 1,093,781 shares during the period. Ruggie Capital Group purchased a new stake in Manhattan Associates in the 4th quarter valued at about $31,000. Pearl River Capital LLC purchased a new stake in Manhattan Associates in the 4th quarter valued at about $40,000. Captrust Financial Advisors grew its holdings in Manhattan Associates by 83.0% in the 4th quarter. Captrust Financial Advisors now owns 1,041 shares of the software maker’s stock valued at $44,000 after buying an additional 472 shares during the period. Finally, Quantamental Technologies LLC purchased a new stake in Manhattan Associates in the 4th quarter valued at about $57,000.
MANH opened at $66.98 on Thursday. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of 42.39 and a beta of 1.49. Manhattan Associates, Inc. has a 12 month low of $39.01 and a 12 month high of $67.37.
Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, April 23rd. The software maker reported $0.32 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.02). The business had revenue of $148.40 million during the quarter, compared to analysts’ expectations of $137.55 million. Manhattan Associates had a net margin of 17.85% and a return on equity of 74.69%. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.37 EPS. As a group, equities research analysts forecast that Manhattan Associates, Inc. will post 1.1 earnings per share for the current fiscal year.
In other news, SVP Robert G. Howell sold 2,750 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $54.00, for a total transaction of $148,500.00. Following the completion of the sale, the senior vice president now owns 155,697 shares in the company, valued at approximately $8,407,638. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John J. Huntz, Jr. sold 2,106 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $53.76, for a total value of $113,218.56. Following the sale, the director now owns 70,530 shares of the company’s stock, valued at approximately $3,791,692.80. The disclosure for this sale can be found here. Insiders sold a total of 10,310 shares of company stock valued at $562,834 in the last 90 days. 0.68% of the stock is owned by company insiders.
MANH has been the subject of several recent analyst reports. TheStreet upgraded Manhattan Associates from a “c+” rating to a “b-” rating in a report on Friday, March 1st. Zacks Investment Research upgraded Manhattan Associates from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a report on Wednesday, January 30th. BidaskClub upgraded Manhattan Associates from a “hold” rating to a “buy” rating in a report on Tuesday, January 29th. ValuEngine upgraded Manhattan Associates from a “hold” rating to a “buy” rating in a report on Tuesday, January 15th. Finally, SunTrust Banks upgraded Manhattan Associates from a “hold” rating to a “buy” rating and set a $59.02 price target for the company in a report on Monday. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Manhattan Associates presently has a consensus rating of “Buy” and an average target price of $59.01.
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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 offers Manhattan SCALE, a portfolio of logistics execution solutions that provide trading partner management, yard management, optimization, warehouse management, and transportation execution services; and Manhattan Active, a set of enterprise and store omni-channel solutions.
Further Reading: Trading based on a resistance level
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