Manhattan Associates Inc. (NASDAQ:MANH) spotted trading -49.79% off 52-week high price. On the other end, the stock has been noted 29.03% away from the low price over the last 52-weeks. The stock changed -1.41% to recent value of $45.42. The stock transacted 1179303 shares during most recent day however it has an average volume of 656.63K shares. The company has 65.55M of outstanding shares and 62.82M shares were floated in the market.

On April 3, 2020, Manhattan Associates Inc. (NASDAQ:MANH) is providing the following corporate update in response to the ongoing and rapidly evolving situation caused by COVID-19.

Eddie Capel, president and chief executive officer of Manhattan Associates, stated, Our preliminary results for the first quarter were in line with our internal expectations due to continued demand for our cloud-based supply chain and omnichannel commerce solutions. Customer engagement remained robust and we continue to be optimistic on the longer-term opportunities in front of us. However, considering recent global events as a direct result of COVID-19, we are taking proactive measures to position our company for uncertainty in the near-term while maintaining flexibility to extend our market-leading position when a normalization of business activity resumes. In the interim, we remain focused on our industry-leading innovation while providing direct support for our clients globally in these uncertain times.

Mr. Capel continued, Effective April 1, 2020, we are reducing the salaries of the chief executive officer and the board of directors by 25%, the chief financial officer by 15%, and other named executive officers by 10%. Further, we are aggressively reducing operating expenses globally. Importantly, these expense reductions will not materially impact our ability to support our customers or make key investments in research and development to further extend our competitive positioning. Finally, we are suspending the company’s share repurchase program.

The uncertainty that COVID-19 is currently causing has been extraordinary. One thing that is certain, however, is that supply chains have never been more visible and mission-critical, and we believe that we will emerge from this period better positioned and stronger than ever, Mr. Capel concluded.

Its earnings per share (EPS) expected to touch remained -16.40% for this year while earning per share for the next 5-years is expected to reach at 15.00%. MANH has a gross margin of 53.90% and an operating margin of 18.80% while its profit margin remained 13.90% for the last 12 months.

According to the most recent quarter its current ratio was 1.3 that represents company’s ability to meet its current financial obligations. The price moved ahead of -12.58% from the mean of 20 days, -33.08% from mean of 50 days SMA and performed -40.73% from mean of 200 days price. Company’s performance for the week was -15.28%, -32.75% for month and YTD performance remained -43.05%.