Manhattan Associates (NASDAQ:MANH) Lowered to Buy at ValuEngine

Manhattan Associates (NASDAQ:MANH) was downgraded by research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a report released on Thursday, ValuEngine reports.

Several other brokerages have also weighed in on MANH. BidaskClub raised Manhattan Associates from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 16th. SunTrust Banks increased their target price on Manhattan Associates to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Zacks Investment Research raised Manhattan Associates from a “hold” rating to a “strong-buy” rating and set a $100.00 target price on the stock in a research report on Thursday. Finally, Benchmark reaffirmed a “buy” rating and issued a $90.00 target price (up from $75.00) on shares of Manhattan Associates in a research report on Wednesday, July 24th. Three equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $91.67.

MANH traded down $1.97 during trading hours on Thursday, hitting $81.49. 505,527 shares of the stock were exchanged, compared to its average volume of 514,414. The stock has a 50-day simple moving average of $73.18. Manhattan Associates has a 12 month low of $39.01 and a 12 month high of $89.53. The firm has a market capitalization of $5.47 billion, a PE ratio of 51.58 and a beta of 1.41. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.42 and a current ratio of 1.42.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, July 23rd. The software maker reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.17. Manhattan Associates had a return on equity of 66.00% and a net margin of 16.33%. The firm had revenue of $154.30 million for the quarter, compared to analysts’ expectations of $146.00 million. During the same period last year, the business posted $0.47 earnings per share. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, equities research analysts anticipate that Manhattan Associates will post 1.11 earnings per share for the current fiscal year.

In other Manhattan Associates news, CEO Eddie Capel sold 40,000 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $87.48, for a total value of $3,499,200.00. Following the sale, the chief executive officer now directly owns 261,357 shares of the company’s stock, valued at $22,863,510.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.68% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Truewealth LLC acquired a new position in shares of Manhattan Associates during the second quarter valued at $25,000. Cullen Frost Bankers Inc. acquired a new position in shares of Manhattan Associates during the second quarter valued at $40,000. CWM LLC increased its holdings in shares of Manhattan Associates by 25.4% during the second quarter. CWM LLC now owns 647 shares of the software maker’s stock valued at $45,000 after purchasing an additional 131 shares during the period. Manchester Capital Management LLC acquired a new position in shares of Manhattan Associates during the first quarter valued at $60,000. Finally, Quantamental Technologies LLC increased its holdings in shares of Manhattan Associates by 23.7% during the first quarter. Quantamental Technologies LLC now owns 1,677 shares of the software maker’s stock valued at $92,000 after purchasing an additional 321 shares during the period.

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 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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