Manhattan Associates, Inc. (NASDAQ:MANH) Downgraded to Sell at BidaskClub

Manhattan Associates, Inc. (NASDAQ:MANH) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Tuesday, July 25th.

A number of other research firms have also recently commented on MANH. Zacks Investment Research cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Wednesday, May 24th. SunTrust Banks, Inc. started coverage on shares of Manhattan Associates in a research note on Monday, June 26th. They set a “hold” rating and a $45.00 price target 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 assigned a hold rating and one has assigned a buy rating to the company. Manhattan Associates has a consensus rating of “Hold” and an average price target of $59.50.

Manhattan Associates (NASDAQ MANH) traded up 1.54% during mid-day trading on Tuesday, reaching $43.40. 348,357 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $45.68 and its 200 day moving average price is $47.87. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of 25.07 and a beta of 1.15. Manhattan Associates has a one year low of $42.50 and a one year high of $62.14.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Thursday, July 20th. The software maker reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Manhattan Associates had a net margin of 20.55% and a return on equity of 75.58%. The firm had revenue of $154.10 million for the quarter, compared to the consensus estimate of $153.80 million. During the same period in the previous year, the firm posted $0.49 EPS. The business’s quarterly revenue was down .5% on a year-over-year basis. On average, equities analysts forecast that Manhattan Associates will post $1.87 EPS for the current year.

Manhattan Associates announced that its board has initiated a stock repurchase plan on Thursday, April 20th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the software maker to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

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A number of large investors have recently added to or reduced their stakes in MANH. Acrospire Investment Management LLC boosted its stake in Manhattan Associates by 20.9% in the first quarter. Acrospire Investment Management LLC now owns 2,177 shares of the software maker’s stock valued at $113,000 after buying an additional 377 shares during the period. Bronfman E.L. Rothschild L.P. boosted its stake in Manhattan Associates by 41.1% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,493 shares of the software maker’s stock valued at $120,000 after buying an additional 726 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Manhattan Associates by 11.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,554 shares of the software maker’s stock valued at $123,000 after buying an additional 271 shares during the period. Lloyds Banking Group plc bought a new stake in Manhattan Associates during the first quarter valued at about $126,000. Finally, TrimTabs Asset Management LLC boosted its stake in Manhattan Associates by 105.3% in the second quarter. TrimTabs Asset Management LLC now owns 3,761 shares of the software maker’s stock valued at $181,000 after buying an additional 1,929 shares during the period.

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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