Central Pacific Bank Trust Division Purchases New Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Central Pacific Bank Trust Division acquired a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,056 shares of the software maker’s stock, valued at approximately $509,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its position in Manhattan Associates by 259.4% in the 4th quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock valued at $25,000 after buying an additional 83 shares during the last quarter. Tobam purchased a new position in Manhattan Associates in the 1st quarter valued at about $25,000. Bear Mountain Capital Inc. purchased a new position in Manhattan Associates in the 4th quarter valued at about $26,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Manhattan Associates in the 4th quarter valued at about $26,000. Finally, Benjamin Edwards Inc. purchased a new position in Manhattan Associates in the 1st quarter valued at about $27,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Rosenblatt Securities reissued a “neutral” rating and issued a $225.00 price objective on shares of Manhattan Associates in a research report on Wednesday, April 24th. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, May 27th. William Blair reaffirmed a “market perform” rating on shares of Manhattan Associates in a research report on Wednesday, April 24th. Citigroup increased their price target on shares of Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th. Finally, Redburn Atlantic started coverage on shares of Manhattan Associates in a research report on Tuesday, May 14th. They set a “buy” rating and a $260.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Manhattan Associates currently has an average rating of “Moderate Buy” and a consensus target price of $245.13.

Manhattan Associates Trading Up 0.4 %

MANH traded up $0.98 on Wednesday, hitting $243.15. 15,204 shares of the company’s stock were exchanged, compared to its average volume of 398,355. The firm has a market cap of $14.97 billion, a PE ratio of 79.14 and a beta of 1.50. Manhattan Associates, Inc. has a twelve month low of $182.97 and a twelve month high of $266.94. The stock has a fifty day moving average of $228.15 and a two-hundred day moving average of $232.41.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Tuesday, April 23rd. The software maker reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.23. The firm had revenue of $254.55 million for the quarter, compared to analyst estimates of $243.32 million. Manhattan Associates had a net margin of 19.91% and a return on equity of 85.28%. On average, analysts predict that Manhattan Associates, Inc. will post 2.72 EPS for the current year.

Manhattan Associates Company Profile

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Warehouse Management Solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and Transportation Management Solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, POS, and customer engagement tools for enterprises and stores.