Manhattan Associates (MANH) Rating Increased to Hold at BidaskClub

BidaskClub upgraded shares of Manhattan Associates (NASDAQ:MANH) from a sell rating to a hold rating in a research note published on Tuesday.

Several other equities analysts have also issued reports on the stock. SunTrust Banks lowered shares of Manhattan Associates from a buy rating to a hold rating in a report on Wednesday, September 26th. They noted that the move was a valuation call. Benchmark reiterated a buy rating and set a $65.00 target price (up from $55.00) on shares of Manhattan Associates in a report on Friday, September 14th. Zacks Investment Research lowered shares of Manhattan Associates from a hold rating to a sell rating in a report on Friday, July 27th. ValuEngine upgraded shares of Manhattan Associates from a hold rating to a buy rating in a report on Tuesday, July 24th. Finally, TheStreet upgraded shares of Manhattan Associates from a c+ rating to a b- rating in a report on Friday, July 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $65.00.

Shares of MANH opened at $49.42 on Tuesday. Manhattan Associates has a one year low of $39.10 and a one year high of $62.39. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 28.73 and a beta of 1.24.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, July 24th. The software maker reported $0.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.06. Manhattan Associates had a net margin of 18.87% and a return on equity of 68.14%. The firm had revenue of $141.90 million during the quarter, compared to analyst estimates of $140.42 million. During the same period last year, the business earned $0.50 earnings per share. The business’s revenue was down 7.9% on a year-over-year basis. As a group, equities analysts anticipate that Manhattan Associates will post 1.36 EPS for the current fiscal year.

In other news, Director John J. Huntz, Jr. sold 2,000 shares of Manhattan Associates stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $56.42, for a total transaction of $112,840.00. Following the completion of the transaction, the director now directly owns 72,636 shares in the company, valued at $4,098,123.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Bruce Richards sold 7,740 shares of Manhattan Associates stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $49.84, for a total transaction of $385,761.60. Following the transaction, the vice president now owns 20,820 shares of the company’s stock, valued at $1,037,668.80. The disclosure for this sale can be found here. Insiders have sold 12,560 shares of company stock valued at $646,905 over the last quarter. Company insiders own 0.99% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Manhattan Associates by 1.7% during the second quarter. BlackRock Inc. now owns 5,994,696 shares of the software maker’s stock valued at $281,811,000 after acquiring an additional 98,594 shares in the last quarter. RGM Capital LLC increased its position in shares of Manhattan Associates by 2.4% during the second quarter. RGM Capital LLC now owns 1,760,380 shares of the software maker’s stock valued at $82,755,000 after acquiring an additional 41,340 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Manhattan Associates by 2.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,100,341 shares of the software maker’s stock valued at $51,726,000 after acquiring an additional 25,634 shares in the last quarter. Hermes Investment Management Ltd. increased its position in shares of Manhattan Associates by 1.5% during the second quarter. Hermes Investment Management Ltd. now owns 844,437 shares of the software maker’s stock valued at $39,697,000 after acquiring an additional 12,884 shares in the last quarter. Finally, Royce & Associates LP increased its position in shares of Manhattan Associates by 13.9% during the second quarter. Royce & Associates LP now owns 632,510 shares of the software maker’s stock valued at $29,734,000 after acquiring an additional 77,120 shares in the last quarter.

About Manhattan Associates

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations for retailers, wholesalers, manufacturers, logistics providers, and other organizations. The company provides supply chain solutions, including distribution management, transportation management, and visibility solutions; omni-channel solutions; and inventory optimization and planning solutions.

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