Manhattan Associates (MANH) Upgraded by BidaskClub to “Hold”

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.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, July 24th. The software maker reported $0.47 EPS for the quarter, beating the consensus estimate of $0.41 by $0.06. The company had revenue of $141.90 million during the quarter, compared to analysts’ expectations of $140.42 million. Manhattan Associates had a net margin of 18.87% and a return on equity of 68.14%. The business’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS. On average, equities research analysts forecast that Manhattan Associates will post 1.36 earnings per share for the current fiscal year.

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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