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Zacks #1 Stocks on the Move 06/19/2013
| Company Name | Symbol | %Change |
|---|---|---|
| SONIC FOUNDR | SOFO | 4.69% |
| SUMITOMO MIT | SMFG | 3.38% |
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| RENEWABLE EN | REGI | 3.01% |
| TOKIO MARINE | TKOMY | 2.99% |
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Company Description
Manhattan Associates, Inc. develops and supports supply chain software for global supply chain activities. The company was founded in 1995 and has a market cap of $860 million.
Although MANH has been having a great year, shares recently jumped into a new all-time high after the company reported strong Q3 results that came in ahead of expectations.
Third-Quarter Results
Revenue for the period was up 16% from last year to $86 million. Earnings also came in strong at 59 cents, 37% ahead of the Zacks Consensus Estimate, where the company has an average earnings surprise of 26% over the last four quarters.
The company noted that it sold three $1 million contracts during the quarter.
Financial Profile
With cash and short-term investments of $101 million and no long-term debt, MANH will continue to benefit from its strong financial profile.
Estimates
We've already seen some bullish movement in estimates off the good quarter, with the current-year estimate up 21 cents to $1.91. The next-year estimate is pegged at $2.07, a solid 8% growth projection.
Valuation
With a PEG ratio of 2.68, MANH trades at a premium to the benchmark of 1 for value.
12-Month Chart
On the chart, shares jumped into a new all-time high on the good quarter, take a look below.
Michael Vodicka is the Momentum Stock Strategist for Zacks.com. He is also the Editor in charge of the market-beating Zacks Whisper Trader Service.
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