Manhattan Associates (NASDAQ:MANH) Shares Gap Up Following Strong Earnings

Manhattan Associates, Inc. (NASDAQ:MANH) shares gapped up prior to trading on Wednesday following a stronger than expected earnings report. The stock had previously closed at $68.74, but opened at $74.60. Manhattan Associates shares last traded at $74.78, with a volume of 2,440,408 shares traded.

The software maker reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.15. Manhattan Associates had a return on equity of 64.06% and a net margin of 15.58%. The company had revenue of $162.27 million during the quarter, compared to the consensus estimate of $151.64 million. During the same quarter in the prior year, the firm earned $0.49 EPS. The company’s quarterly revenue was up 14.0% compared to the same quarter last year.

MANH has been the subject of a number of recent research reports. Zacks Investment Research downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. BidaskClub lowered Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday. SunTrust Banks increased their target price on Manhattan Associates from $85.00 to $92.00 and gave the company a “buy” rating in a report on Monday, August 12th. Benchmark restated a “buy” rating and issued a $90.00 target price (up previously from $75.00) on shares of Manhattan Associates in a report on Wednesday, July 24th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $100.00 target price on shares of Manhattan Associates in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Manhattan Associates has an average rating of “Buy” and an average target price of $94.00.

In other news, Director John J. Huntz, Jr. sold 3,500 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $85.04, for a total value of $297,640.00. Following the completion of the sale, the director now owns 70,170 shares in the company, valued at $5,967,256.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eddie Capel sold 40,000 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $87.48, for a total transaction of $3,499,200.00. Following the completion of the transaction, the chief executive officer now directly owns 261,357 shares in the company, valued at $22,863,510.36. The disclosure for this sale can be found here. Insiders sold 54,100 shares of company stock valued at $4,697,840 in the last 90 days. Corporate insiders own 0.68% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Truewealth LLC acquired a new position in shares of Manhattan Associates in the second quarter worth $25,000. Cullen Frost Bankers Inc. acquired a new position in shares of Manhattan Associates in the second quarter worth $40,000. CWM LLC increased its stake in shares of Manhattan Associates by 25.4% in the second quarter. CWM LLC now owns 647 shares of the software maker’s stock worth $45,000 after acquiring an additional 131 shares during the last quarter. Transamerica Financial Advisors Inc. acquired a new position in shares of Manhattan Associates in the second quarter worth $111,000. Finally, HM Payson & Co. acquired a new position in shares of Manhattan Associates in the second quarter worth $143,000.

The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $4.80 billion, a price-to-earnings ratio of 48.38 and a beta of 1.51. The stock’s 50 day moving average price is $81.78 and its two-hundred day moving average price is $73.84.

About Manhattan Associates (NASDAQ:MANH)

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.

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