Manhattan Associates (MANH) Rating Lowered to Hold at BidaskClub

Manhattan Associates (NASDAQ:MANH) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, February 9th.

A number of other equities research analysts have also commented on MANH. KeyCorp reissued a “hold” rating on shares of Manhattan Associates in a report on Tuesday, October 17th. Zacks Investment Research raised shares of Manhattan Associates from a “sell” rating to a “hold” rating in a report on Saturday, November 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $55.00.

Shares of Manhattan Associates (MANH) traded down $0.71 during trading hours on Friday, reaching $42.97. 749,500 shares of the company’s stock were exchanged, compared to its average volume of 851,291. Manhattan Associates has a 12-month low of $39.63 and a 12-month high of $54.21. The company has a market cap of $2,920.69, a price-to-earnings ratio of 24.55 and a beta of 1.08.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.45 EPS for the quarter, hitting analysts’ consensus estimates of $0.45. Manhattan Associates had a net margin of 19.59% and a return on equity of 72.02%. The firm had revenue of $144.09 million for the quarter, compared to analyst estimates of $144.86 million. During the same quarter in the prior year, the firm earned $0.46 EPS. The company’s revenue was down 2.4% on a year-over-year basis. analysts predict that Manhattan Associates will post 1.29 earnings per share for the current fiscal year.

Manhattan Associates declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 6th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the software maker to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Hedge funds and other institutional investors have recently modified their holdings of the company. BB&T Investment Services Inc. boosted its stake in shares of Manhattan Associates by 128.5% in the 4th quarter. BB&T Investment Services Inc. now owns 2,098 shares of the software maker’s stock valued at $106,000 after purchasing an additional 1,180 shares during the last quarter. Zions Bancorporation bought a new position in shares of Manhattan Associates in the 3rd quarter valued at about $128,000. Victory Capital Management Inc. bought a new position in shares of Manhattan Associates in the 3rd quarter valued at about $168,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Manhattan Associates by 45.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,719 shares of the software maker’s stock valued at $184,000 after purchasing an additional 1,165 shares during the last quarter. Finally, Wilkins Investment Counsel Inc. bought a new position in shares of Manhattan Associates in the 3rd quarter valued at about $212,000.

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About Manhattan Associates

Manhattan Associates, Inc (Manhattan) is a developer and provider of supply chain commerce solutions. The Company operates through three geographical segments: the Americas, Europe, Middle East and Africa (EMEA), and the Asia Pacific (APAC). It is engaged in developing, selling, deploying, servicing and maintaining software solutions designed to manage supply chains, inventory and omni-channel operations for retailers, wholesalers, manufacturers, logistics providers and other organizations.

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