Manhattan Associates, Inc. (NASDAQ:MANH) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Tuesday, July 25th.
MANH has been the subject of several other reports. Zacks Investment Research raised shares of Manhattan Associates from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Friday, May 26th. SunTrust Banks, Inc. started coverage on shares of Manhattan Associates in a research note on Monday, June 26th. They issued a “hold” rating and a $45.00 target price for the company. Finally, Benchmark Co. cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Friday, April 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $59.50.
Shares of Manhattan Associates (NASDAQ MANH) traded down 0.21% on Tuesday, reaching $43.74. The company had a trading volume of 358,861 shares. The firm has a 50-day moving average price of $46.52 and a 200 day moving average price of $48.22. Manhattan Associates has a 1-year low of $42.50 and a 1-year high of $62.14. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of 25.27 and a beta of 1.15.
Manhattan Associates (NASDAQ:MANH) last released its earnings results on Thursday, July 20th. The software maker reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.02. The firm had revenue of $154.10 million during the quarter, compared to analysts’ expectations of $153.80 million. Manhattan Associates had a net margin of 20.55% and a return on equity of 75.58%. Manhattan Associates’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 EPS. Equities research analysts predict that Manhattan Associates will post $1.87 earnings per share for the current year.
Manhattan Associates announced that its Board of Directors has initiated a stock buyback plan on Thursday, April 20th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the software maker to purchase up to 1.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
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Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Manhattan Associates by 14,241.7% in the first quarter. BlackRock Inc. now owns 5,768,519 shares of the software maker’s stock valued at $300,250,000 after buying an additional 5,728,297 shares in the last quarter. MARSHALL WACE ASIA Ltd bought a new stake in shares of Manhattan Associates during the first quarter valued at about $61,060,000. Marshall Wace North America L.P. bought a new stake in shares of Manhattan Associates during the first quarter valued at about $61,060,000. JPMorgan Chase & Co. boosted its stake in shares of Manhattan Associates by 261.2% in the first quarter. JPMorgan Chase & Co. now owns 1,447,225 shares of the software maker’s stock valued at $75,328,000 after buying an additional 1,046,565 shares in the last quarter. Finally, Hermes Investment Management Ltd. bought a new stake in shares of Manhattan Associates during the first quarter valued at about $44,041,000.
About Manhattan Associates
Manhattan Associates, Inc (Manhattan) is a developer and provider of supply chain commerce solutions. The Company operates through three geographical segments: the Americas, Europe, Middle East and Africa (EMEA), and the Asia Pacific (APAC). It is engaged in developing, selling, deploying, servicing and maintaining software solutions designed to manage supply chains, inventory and omni-channel operations for retailers, wholesalers, manufacturers, logistics providers and other organizations.
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