Manhattan Associates (NASDAQ:MANH) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of Manhattan Associates (NASDAQ:MANH) from a buy rating to a strong-buy rating in a research note published on Tuesday morning, BidAskClub reports.

A number of other equities research analysts have also recently commented on MANH. Zacks Investment Research upgraded shares of Zymeworks from a hold rating to a buy rating and set a $19.00 target price on the stock in a research note on Saturday, April 27th. SunTrust Banks cut shares of KEYW from a buy rating to a hold rating and raised their target price for the stock from $11.00 to $11.25 in a research note on Monday, April 22nd. Finally, ValuEngine cut shares of Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Manhattan Associates presently has an average rating of Buy and an average target price of $64.67.

Shares of NASDAQ:MANH traded up $0.55 during trading on Tuesday, hitting $71.43. The company’s stock had a trading volume of 407 shares, compared to its average volume of 352,889. The company has a 50-day simple moving average of $68.52. Manhattan Associates has a 12 month low of $39.01 and a 12 month high of $72.28. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.25. The firm has a market cap of $4.57 billion, a price-to-earnings ratio of 45.01 and a beta of 1.45.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, April 23rd. The software maker reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.02). Manhattan Associates had a return on equity of 73.80% and a net margin of 17.85%. The business had revenue of $148.40 million during the quarter, compared to the consensus estimate of $137.55 million. During the same quarter last year, the company earned $0.37 EPS. Manhattan Associates’s revenue for the quarter was up 13.6% on a year-over-year basis. On average, equities research analysts forecast that Manhattan Associates will post 1.09 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Manhattan Associates during the fourth quarter valued at approximately $47,849,000. AJO LP raised its position in shares of Manhattan Associates by 111.4% during the first quarter. AJO LP now owns 825,354 shares of the software maker’s stock valued at $45,485,000 after buying an additional 434,963 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Manhattan Associates by 12.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,333,289 shares of the software maker’s stock valued at $56,491,000 after buying an additional 151,640 shares during the last quarter. WCM Investment Management LLC raised its position in shares of Manhattan Associates by 65.8% during the first quarter. WCM Investment Management LLC now owns 373,952 shares of the software maker’s stock valued at $20,608,000 after buying an additional 148,354 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its position in shares of Manhattan Associates by 126.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 224,071 shares of the software maker’s stock valued at $9,494,000 after buying an additional 125,107 shares during the last quarter.

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 offers Manhattan SCALE, a portfolio of logistics execution solutions that provide trading partner management, yard management, optimization, warehouse management, and transportation execution services; and Manhattan Active, a set of enterprise and store omni-channel solutions.

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