BidaskClub upgraded shares of Manhattan Associates (NASDAQ:MANH) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.
Other analysts have also recently issued research reports about the stock. ValuEngine upgraded shares of Manhattan Associates from a hold rating to a buy rating in a research report on Tuesday, July 24th. TheStreet upgraded shares of Manhattan Associates from a c+ rating to a b- rating in a research report on Friday, July 6th. Zacks Investment Research cut shares of Manhattan Associates from a hold rating to a sell rating in a research report on Friday, July 27th. Benchmark restated a buy rating and issued a $65.00 price objective (up previously from $55.00) on shares of Manhattan Associates in a research report on Friday, September 14th. Finally, SunTrust Banks cut shares of Manhattan Associates from a buy rating to a hold rating in a research report on Wednesday, September 26th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $65.00.
Shares of Manhattan Associates stock opened at $47.86 on Tuesday. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 27.83 and a beta of 1.24. Manhattan Associates has a 52 week low of $39.10 and a 52 week high of $62.39.
In related news, Director John J. Huntz, Jr. sold 2,000 shares of the company’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $56.42, for a total value of $112,840.00. Following the completion of the sale, the director now owns 72,636 shares in the company, valued at approximately $4,098,123.12. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Bruce Richards sold 7,740 shares of the company’s stock in a transaction 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 completion of the sale, the vice president now owns 20,820 shares of the company’s stock, valued at approximately $1,037,668.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,560 shares of company stock valued at $646,905. 0.99% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Transamerica Financial Advisors Inc. acquired a new position in Manhattan Associates in the 2nd quarter worth $111,000. Macquarie Group Ltd. boosted its stake in Manhattan Associates by 366.7% in the 2nd quarter. Macquarie Group Ltd. now owns 2,800 shares of the software maker’s stock worth $132,000 after purchasing an additional 2,200 shares during the period. New England Asset Management Inc. acquired a new position in Manhattan Associates in the 2nd quarter worth $198,000. Gratus Capital LLC acquired a new position in Manhattan Associates in the 2nd quarter worth $244,000. Finally, Hartford Investment Management Co. acquired a new position in Manhattan Associates in the 2nd quarter worth $245,000.
Manhattan Associates Company Profile
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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