Zacks Investment Research upgraded shares of Mantech International (NASDAQ:MANT) from a hold rating to a buy rating in a research note released on Wednesday morning, Zacks.com reports. They currently have $78.00 target price on the technology company’s stock.
According to Zacks, “ManTech International Corporation is a leading provider of innovative technologies and solutions for mission-critical national security programs for the Intelligence Community; the Departments of Defense, State, Homeland Security, and Justice; the Space Community; and other U.S. federal government customers. ManTech’s expertise includes systems engineering, systems integration, technology and software development, enterprise security architecture, information assurance, intelligence operations support, network and critical infrastructure protection, information technology, communications integration and engineering support. The company supports the advanced telecommunications systems that are used in Operation Iraqi Freedom and in other parts of the world; provides the physical and cyber security to protect U.S. embassies all over the world; has developed a secure, collaborative communications system for the U.S. Department of Homeland Security; and builds and maintains secure databases. “
Other equities research analysts have also issued research reports about the stock. BidaskClub lowered shares of Mantech International from a strong-buy rating to a buy rating in a report on Wednesday, September 11th. SunTrust Banks boosted their price target on shares of Mantech International to $77.00 and gave the company a positive rating in a report on Thursday, August 1st. Morgan Stanley set a $66.00 price target on shares of Mantech International and gave the company a hold rating in a report on Wednesday, August 21st. Finally, Wells Fargo & Co lowered shares of Mantech International from an outperform rating to a market perform rating in a report on Thursday, August 1st. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $73.20.
Mantech International (NASDAQ:MANT) last announced its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.04. The firm had revenue of $537.00 million for the quarter, compared to analyst estimates of $551.29 million. Mantech International had a net margin of 4.30% and a return on equity of 6.21%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.50 EPS. Analysts predict that Mantech International will post 2.32 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Thursday, September 12th. Mantech International’s payout ratio is 52.43%.
In other news, CEO Kevin M. Phillips sold 32,431 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $67.98, for a total value of $2,204,659.38. Following the sale, the chief executive officer now owns 106,063 shares of the company’s stock, valued at approximately $7,210,162.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Richard John Wagner sold 8,600 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $70.23, for a total transaction of $603,978.00. Following the completion of the sale, the insider now directly owns 7,635 shares in the company, valued at approximately $536,206.05. The disclosure for this sale can be found here. 33.70% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of MANT. BlackRock Inc. lifted its position in Mantech International by 2.6% during the 2nd quarter. BlackRock Inc. now owns 4,232,504 shares of the technology company’s stock worth $278,711,000 after buying an additional 105,706 shares in the last quarter. Earnest Partners LLC lifted its position in Mantech International by 0.3% during the 2nd quarter. Earnest Partners LLC now owns 1,436,311 shares of the technology company’s stock worth $94,581,000 after buying an additional 4,231 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Mantech International by 57.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 979,039 shares of the technology company’s stock worth $63,754,000 after buying an additional 357,579 shares in the last quarter. Northern Trust Corp lifted its position in Mantech International by 6.0% during the 2nd quarter. Northern Trust Corp now owns 787,720 shares of the technology company’s stock worth $51,871,000 after buying an additional 44,358 shares in the last quarter. Finally, OppenheimerFunds Inc. lifted its position in Mantech International by 9.4% during the 1st quarter. OppenheimerFunds Inc. now owns 751,664 shares of the technology company’s stock worth $40,605,000 after buying an additional 64,530 shares in the last quarter. 65.48% of the stock is currently owned by institutional investors and hedge funds.
About Mantech International
ManTech International Corporation provides technology solutions and services for U.S. defense, intelligence community, and federal civilian agencies worldwide. The company offers cyber solutions and services, including security operations, threat intelligence, incident response and forensics, boundary defense, security systems engineering, infrastructure security, and computer forensics and exploitation.
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