Manhattan Associates (NASDAQ:MANH) Rating Lowered to C+ at TheStreet

TheStreet lowered shares of Manhattan Associates (NASDAQ:MANH) from a b rating to a c+ rating in a report released on Tuesday morning, TheStreetRatingsTable reports.

MANH has been the topic of a number of other research reports. Benchmark increased their price target on Manhattan Associates from $165.00 to $190.00 and gave the company a buy rating in a research note on Monday, August 30th. Truist Securities increased their price target on Manhattan Associates from $172.00 to $190.00 and gave the company a buy rating in a research note on Monday, August 30th. Rosenblatt Securities raised their price objective on Manhattan Associates from $165.00 to $195.00 and gave the stock a buy rating in a research note on Wednesday, July 28th. Zacks Investment Research raised Manhattan Associates from a hold rating to a buy rating and set a $179.00 price objective on the stock in a research note on Tuesday, August 3rd. Finally, Truist raised their price objective on Manhattan Associates from $172.00 to $190.00 and gave the stock a buy rating in a research note on Monday, August 30th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of Buy and an average price target of $177.71.

NASDAQ:MANH opened at $160.56 on Tuesday. The stock’s fifty day moving average price is $158.68 and its two-hundred day moving average price is $141.37. Manhattan Associates has a 52-week low of $83.74 and a 52-week high of $167.75. The company has a market cap of $10.18 billion, a price-to-earnings ratio of 104.26 and a beta of 1.98.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Monday, July 26th. The software maker reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.18. The company had revenue of $166.11 million for the quarter, compared to the consensus estimate of $156.98 million. Manhattan Associates had a return on equity of 46.33% and a net margin of 15.93%. The firm’s quarterly revenue was up 22.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.40 EPS. Analysts forecast that Manhattan Associates will post 1.49 EPS for the current fiscal year.

In other Manhattan Associates news, Director John J. Huntz, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 4th. The shares were sold at an average price of $162.33, for a total transaction of $811,650.00. Following the completion of the sale, the director now directly owns 64,808 shares in the company, valued at $10,520,282.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas E. Noonan sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 27th. The stock was sold at an average price of $165.66, for a total transaction of $3,313,200.00. Following the sale, the director now owns 107,969 shares of the company’s stock, valued at $17,886,144.54. The disclosure for this sale can be found here. 0.77% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. raised its position in shares of Manhattan Associates by 238.8% in the first quarter. Victory Capital Management Inc. now owns 30,772 shares of the software maker’s stock valued at $3,612,000 after buying an additional 21,689 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Manhattan Associates by 0.7% in the first quarter. Envestnet Asset Management Inc. now owns 19,864 shares of the software maker’s stock valued at $2,332,000 after buying an additional 139 shares in the last quarter. Standard Life Aberdeen plc raised its position in shares of Manhattan Associates by 57.1% in the first quarter. Standard Life Aberdeen plc now owns 12,100 shares of the software maker’s stock valued at $1,421,000 after buying an additional 4,400 shares in the last quarter. Bank of Nova Scotia bought a new position in Manhattan Associates in the first quarter valued at approximately $1,307,000. Finally, Blueshift Asset Management LLC bought a new position in Manhattan Associates in the first quarter valued at approximately $408,000. Hedge funds and other institutional investors own 96.61% of the company’s stock.

About Manhattan Associates

Manhattan Associates, Inc engages in designing, building and delivering supply chain commerce solutions by converging front-end sales with back-end supply chain. It operates through the following geographical segments: The Americas, Europe, Middle East and Africa and Asia Pacific. The company was founded by Deepak Raghavan in October 1990 and is headquartered in Atlanta, GA.

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Analyst Recommendations for Manhattan Associates (NASDAQ:MANH)

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