Rosenblatt Securities initiated coverage on shares of Manhattan Associates (NASDAQ:MANH) in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $100.00 price objective on the software maker’s stock.
A number of other equities analysts have also commented on MANH. Zacks Investment Research raised shares of 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, August 1st. ValuEngine lowered shares of Manhattan Associates from a strong-buy rating to a buy rating in a research report on Thursday, August 1st. BidaskClub raised shares of Manhattan Associates from a buy rating to a strong-buy rating in a research report on Tuesday, July 16th. Benchmark reaffirmed a buy rating and set a $90.00 target price (up from $75.00) on shares of Manhattan Associates in a research report on Wednesday, July 24th. Finally, SunTrust Banks raised their target price on shares of Manhattan Associates from $85.00 to $92.00 and gave the stock a buy rating in a research report on Monday, August 12th. Four equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Manhattan Associates has an average rating of Buy and a consensus price target of $95.50.
Shares of NASDAQ:MANH opened at $83.60 on Thursday. The firm has a market cap of $5.31 billion, a PE ratio of 52.91 and a beta of 1.42. The firm’s 50 day simple moving average is $77.27 and its 200-day simple moving average is $64.33. Manhattan Associates has a one year low of $39.01 and a one year high of $89.53. 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 issued its earnings results on Tuesday, July 23rd. The software maker reported $0.42 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.17. The business had revenue of $154.30 million for the quarter, compared to analyst estimates of $146.00 million. Manhattan Associates had a net margin of 16.33% and a return on equity of 66.00%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company posted $0.47 earnings per share. Equities research analysts predict that Manhattan Associates will post 1.11 EPS for the current fiscal year.
In related news, CEO Eddie Capel sold 40,000 shares of Manhattan Associates stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $87.48, for a total transaction of $3,499,200.00. Following the transaction, 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 SEC, which is accessible through this link. Also, Director John J. Huntz, Jr. sold 3,500 shares of Manhattan Associates stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $85.04, for a total transaction of $297,640.00. Following the transaction, the director now directly owns 70,170 shares in the company, valued at $5,967,256.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,100 shares of company stock worth $4,697,840. 0.68% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in Manhattan Associates by 4.6% in the 4th quarter. Geode Capital Management LLC now owns 718,854 shares of the software maker’s stock worth $30,457,000 after purchasing an additional 31,725 shares in the last quarter. Retirement Systems of Alabama grew its position in shares of Manhattan Associates by 7.1% in the 1st quarter. Retirement Systems of Alabama now owns 246,138 shares of the software maker’s stock valued at $13,565,000 after buying an additional 16,367 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Manhattan Associates by 60.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 8,000 shares of the software maker’s stock valued at $441,000 after buying an additional 3,000 shares during the last quarter. Strs Ohio bought a new stake in shares of Manhattan Associates in the 1st quarter valued at about $311,000. Finally, West Coast Financial LLC grew its position in shares of Manhattan Associates by 6.5% in the 1st quarter. West Coast Financial LLC now owns 75,901 shares of the software maker’s stock valued at $4,183,000 after buying an additional 4,642 shares during 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 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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