Manhattan Associates (NASDAQ:MANH) Releases Earnings Results, Beats Expectations By $0.16 EPS

Manhattan Associates (NASDAQ:MANHGet Rating) released its earnings results on Tuesday. The software maker reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.16, Fidelity Earnings reports. Manhattan Associates had a return on equity of 51.60% and a net margin of 17.27%. During the same period last year, the company earned $0.48 earnings per share. Manhattan Associates updated its FY22 guidance to $2.35-$2.39 EPS.

Manhattan Associates Trading Down 0.9 %

Manhattan Associates stock traded down $1.20 during mid-day trading on Thursday, hitting $136.24. 4,274 shares of the company’s stock were exchanged, compared to its average volume of 343,817. The stock has a market cap of $8.60 billion, a P/E ratio of 73.05 and a beta of 1.83. The stock has a 50 day moving average of $118.23 and a two-hundred day moving average of $127.29. Manhattan Associates has a 1-year low of $106.02 and a 1-year high of $188.52.

Institutional Investors Weigh In On Manhattan Associates

Hedge funds and other institutional investors have recently made changes to their positions in the business. Decatur Capital Management Inc. grew its position in shares of Manhattan Associates by 10.6% in the first quarter. Decatur Capital Management Inc. now owns 11,060 shares of the software maker’s stock valued at $1,534,000 after purchasing an additional 1,062 shares during the last quarter. Prudential PLC lifted its stake in shares of Manhattan Associates by 0.9% in the first quarter. Prudential PLC now owns 10,454 shares of the software maker’s stock valued at $1,450,000 after buying an additional 90 shares during the period. First Republic Investment Management Inc. lifted its stake in shares of Manhattan Associates by 23.3% in the first quarter. First Republic Investment Management Inc. now owns 8,987 shares of the software maker’s stock valued at $1,247,000 after buying an additional 1,701 shares during the period. Guggenheim Capital LLC lifted its stake in shares of Manhattan Associates by 13.3% in the first quarter. Guggenheim Capital LLC now owns 8,139 shares of the software maker’s stock valued at $1,129,000 after buying an additional 953 shares during the period. Finally, Maverick Capital Ltd. lifted its stake in shares of Manhattan Associates by 811.4% in the first quarter. Maverick Capital Ltd. now owns 6,325 shares of the software maker’s stock valued at $877,000 after buying an additional 5,631 shares during the period. 96.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Raymond James restated a “maintains” rating on shares of Manhattan Associates in a report on Wednesday. StockNews.com raised shares of Manhattan Associates from a “hold” rating to a “buy” rating in a research note on Thursday, April 7th. Finally, Rosenblatt Securities dropped their price target on shares of Manhattan Associates from $165.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, July 22nd. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $181.00.

About Manhattan Associates

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Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It 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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Earnings History for Manhattan Associates (NASDAQ:MANH)

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