Could Manhattan Associates, Inc. (MANH) Gain Strenght After Forming Bearish Wedge Down Pattern?

July 17, 2017 - By Darrin Black

Investors sentiment decreased to 0.8 in 2016 Q4. Its down 0.17, from 0.97 in 2016Q3. It fall, as 44 investors sold Manhattan Associates, Inc. shares while 115 reduced holdings. 39 funds opened positions while 88 raised stakes. 68.75 million shares or 0.69% less from 69.23 million shares in 2016Q3 were reported.
Advantus Mgmt Incorporated holds 0.01% of its portfolio in Manhattan Associates, Inc. (NASDAQ:MANH) for 8,847 shares. Globeflex Lp has 20,758 shares for 0.27% of their portfolio. Metropolitan Life Ins has 0.03% invested in Manhattan Associates, Inc. (NASDAQ:MANH) for 69,400 shares. State Teachers Retirement System has 135,004 shares for 0.02% of their portfolio. Arizona State Retirement Sys invested in 0.02% or 28,884 shares. Engineers Gate Manager Limited Partnership invested in 0.09% or 15,383 shares. Prudential Finance holds 848,063 shares. Massachusetts-based Eaton Vance Mgmt has invested 0.01% in Manhattan Associates, Inc. (NASDAQ:MANH). Sg Americas Limited Liability Com holds 0.01% or 20,848 shares. Whittier Trust Company reported 0.08% of its portfolio in Manhattan Associates, Inc. (NASDAQ:MANH). Swiss Bank invested 0.01% of its portfolio in Manhattan Associates, Inc. (NASDAQ:MANH). Moreover, Nordea Mgmt has 0% invested in Manhattan Associates, Inc. (NASDAQ:MANH) for 19,870 shares. Old Mutual Global Invsts (Uk) Limited stated it has 0.23% in Manhattan Associates, Inc. (NASDAQ:MANH). Utah Retirement, a Utah-based fund reported 13,000 shares. 1.29M were accumulated by Pnc Group Inc.

The stock of Manhattan Associates, Inc. (MANH) formed a down wedge with $46.09 target or 3.00 % below today’s $47.52 share price. The 7 months wedge indicates high risk for the $3.34B company. If the $46.09 price target is reached, the company will be worth $100.20M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

About 606,926 shares traded or 10.91% up from the average. Manhattan Associates, Inc. (NASDAQ:MANH) has declined 22.39% since July 17, 2016 and is downtrending. It has underperformed by 39.09% the S&P500.

Analysts expect Manhattan Associates, Inc. (NASDAQ:MANH) to report $0.45 EPS on July, 18.They anticipate $0.01 EPS change or 2.17 % from last quarter’s $0.46 EPS. MANH’s profit would be $31.63M giving it 26.40 P/E if the $0.45 EPS is correct. After having $0.40 EPS previously, Manhattan Associates, Inc.’s analysts see 12.50 % EPS growth.

Manhattan Associates, Inc. (NASDAQ:MANH) Ratings Coverage

Among 6 analysts covering Manhattan Assoc (NASDAQ:MANH), 3 have Buy rating, 0 Sell and 3 Hold. Therefore 50% are positive. Manhattan Assoc had 10 analyst reports since July 22, 2015 according to SRatingsIntel. The stock of Manhattan Associates, Inc. (NASDAQ:MANH) has “Mkt Perform” rating given on Monday, January 9 by Raymond James. The firm has “Buy” rating given on Wednesday, October 21 by Benchmark. The firm earned “Buy” rating on Monday, October 19 by Lake Street. The firm earned “Buy” rating on Wednesday, July 22 by Benchmark. The stock of Manhattan Associates, Inc. (NASDAQ:MANH) earned “Market Perform” rating by William Blair on Thursday, April 28. The stock of Manhattan Associates, Inc. (NASDAQ:MANH) has “Buy” rating given on Wednesday, February 1 by Benchmark. William Blair initiated the shares of MANH in report on Tuesday, September 29 with “Outperform” rating. The stock of Manhattan Associates, Inc. (NASDAQ:MANH) earned “Buy” rating by Brean Capital on Tuesday, January 12.

More recent Manhattan Associates, Inc. (NASDAQ:MANH) news were published by: Nasdaq.com which released: “Manhattan Associates Expands Retail and Customer Engagement Solutions With HP” on June 26, 2017. Also Fool.com published the news titled: “Manhattan Associates Cuts Guidance on Retail-Market Headwinds” on April 20, 2017. Globenewswire.com‘s news article titled: “Manhattan Associates Announces Date for Reporting Second Quarter 2017 …” with publication date: July 05, 2017 was also an interesting one.

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