Manhattan Associates (MANH) Cut to Hold at BidaskClub

Manhattan Associates (NASDAQ:MANH) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Thursday.

A number of other research analysts also recently issued reports on MANH. ValuEngine raised shares of Manhattan Associates from a “sell” rating to a “hold” rating in a research report on Thursday, April 19th. TheStreet downgraded shares of Manhattan Associates from a “b-” rating to a “c+” rating in a research report on Tuesday, February 20th. 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 stock. Manhattan Associates currently has a consensus rating of “Hold” and an average target price of $55.00.

NASDAQ MANH opened at $43.91 on Thursday. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of 25.53 and a beta of 1.25. Manhattan Associates has a one year low of $39.10 and a one year high of $54.21.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, April 24th. The software maker reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. The business had revenue of $130.60 million for the quarter, compared to the consensus estimate of $129.92 million. Manhattan Associates had a net margin of 19.07% and a return on equity of 68.51%. The company’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.42 EPS. equities research analysts expect that Manhattan Associates will post 1.27 earnings per share for the current fiscal year.

Manhattan Associates declared that its Board of Directors has initiated a share repurchase program 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 programs are often an indication that the company’s leadership believes its shares are undervalued.

In other news, Director John J. Huntz, Jr. sold 3,592 shares of Manhattan Associates 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 transaction, the director now owns 70,799 shares of the company’s stock, valued at approximately $3,222,770.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Dennis B. Story sold 16,280 shares of Manhattan Associates stock in a transaction that occurred on Friday, May 4th. The stock was sold at an average price of $43.13, for a total transaction of $702,156.40. Following the completion of the transaction, the chief financial officer now directly owns 63,060 shares in the company, valued at approximately $2,719,777.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,472 shares of company stock worth $1,118,056. Insiders own 0.99% of the company’s stock.

Several institutional investors have recently modified their holdings of MANH. Old Mutual Global Investors UK Ltd. grew its position in shares of Manhattan Associates by 4,463.3% in the 1st quarter. Old Mutual Global Investors UK Ltd. now owns 871,858 shares of the software maker’s stock worth $36,513,000 after buying an additional 852,752 shares during the last quarter. Carillon Tower Advisers Inc. acquired a new stake in Manhattan Associates in the 4th quarter worth approximately $38,930,000. Brown Capital Management LLC boosted its stake in Manhattan Associates by 10.4% in the 4th quarter. Brown Capital Management LLC now owns 7,845,670 shares of the software maker’s stock worth $388,674,000 after purchasing an additional 737,820 shares in the last quarter. Legal & General Group Plc boosted its stake in Manhattan Associates by 455.7% in the 1st quarter. Legal & General Group Plc now owns 375,838 shares of the software maker’s stock worth $15,740,000 after purchasing an additional 308,209 shares in the last quarter. Finally, Standard Life Aberdeen plc boosted its stake in Manhattan Associates by 19.9% in the 4th quarter. Standard Life Aberdeen plc now owns 1,633,801 shares of the software maker’s stock worth $80,947,000 after purchasing an additional 270,604 shares in the last quarter.

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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