Manhattan Associates (NASDAQ:MANH) has been given an average rating of “Hold” by the seven research firms that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $55.00.
Several analysts have recently issued reports on MANH shares. Zacks Investment Research cut shares of Manhattan Associates from a “hold” rating to a “sell” rating in a research report on Tuesday, December 26th. BidaskClub raised shares of Manhattan Associates from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. TheStreet cut shares of Manhattan Associates from a “b-” rating to a “c+” rating in a research report on Tuesday, February 20th. Finally, ValuEngine cut shares of Manhattan Associates from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st.
In related news, Director John J. Huntz, Jr. sold 3,592 shares of the firm’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $45.52, for a total value of $163,507.84. Following the sale, the director now owns 70,799 shares of the company’s stock, valued at $3,222,770.48. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Bruce Richards sold 5,600 shares of the firm’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $45.07, for a total transaction of $252,392.00. Following the completion of the sale, the vice president now directly owns 28,560 shares in the company, valued at approximately $1,287,199.20. The disclosure for this sale can be found here. 0.99% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of MANH. BB&T Investment Services Inc. raised its holdings in Manhattan Associates by 128.5% in the fourth quarter. BB&T Investment Services Inc. now owns 2,098 shares of the software maker’s stock valued at $106,000 after acquiring an additional 1,180 shares in the last quarter. Zions Bancorporation acquired a new stake in Manhattan Associates during the third quarter worth approximately $128,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Manhattan Associates by 45.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,719 shares of the software maker’s stock worth $184,000 after purchasing an additional 1,165 shares in the last quarter. Advisory Services Network LLC raised its holdings in Manhattan Associates by 2,191.1% during the fourth quarter. Advisory Services Network LLC now owns 4,651 shares of the software maker’s stock worth $230,000 after purchasing an additional 4,448 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in Manhattan Associates during the fourth quarter worth approximately $247,000.
Shares of MANH traded down $1.36 during mid-day trading on Friday, hitting $41.45. 834,481 shares of the company’s stock were exchanged, compared to its average volume of 725,367. The stock has a market capitalization of $2,886.60, a PE ratio of 24.10 and a beta of 1.24. Manhattan Associates has a fifty-two week low of $39.10 and a fifty-two week high of $54.21.
Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, February 6th. The software maker reported $0.45 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45. The business had revenue of $144.09 million for the quarter, compared to analysts’ expectations of $144.86 million. Manhattan Associates had a net margin of 19.59% and a return on equity of 72.02%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.46 earnings per share. equities research analysts forecast that Manhattan Associates will post 1.29 EPS for the current year.
Manhattan Associates announced that its Board of Directors has authorized a stock buyback plan on Tuesday, February 6th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the software maker to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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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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