Manhattan Associates (MANH) Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Manhattan Associates (NASDAQ:MANH) from a hold rating to a sell rating in a report issued on Monday.

According to Zacks, “Manhattan Associates, Inc., is the global leader in providing supply chain execution and optimization solutions. It enables operational excellence through its warehouse, transportation, distributed order management, reverse logistics and trading partner management solutions, as well as its RFID, performance management and event management capabilities. These Integrated Logistics Solutions(TM) leverage state-of-the-art technologies, innovative practices and domain expertise to enhance performance, profitability and competitive advantage. Manhattan Associates has licensed more than 900 customers representing more than 1,600 facilities worldwide, which include some of the world’s leading manufacturers, distributors and retailers. “

MANH has been the subject of several other research reports. SunTrust Banks raised Manhattan Associates from a hold rating to a buy rating and set a $55.00 target price for the company in a research note on Tuesday, October 3rd. They noted that the move was a valuation call. KeyCorp reissued a hold rating on shares of Manhattan Associates in a research note on Tuesday, October 17th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Manhattan Associates presently has an average rating of Hold and an average target price of $65.00.

Manhattan Associates (NASDAQ MANH) opened at $45.28 on Monday. The company has a market capitalization of $3,102.68, a PE ratio of 25.43 and a beta of 1.15. Manhattan Associates has a 52 week low of $40.75 and a 52 week high of $55.74.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, October 24th. The software maker reported $0.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.02. The firm had revenue of $152.88 million during the quarter, compared to the consensus estimate of $150.30 million. Manhattan Associates had a return on equity of 74.19% and a net margin of 20.38%. The business’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.50 earnings per share. equities research analysts predict that Manhattan Associates will post 1.75 earnings per share for the current fiscal year.

In other Manhattan Associates news, CEO Eddie Capel sold 23,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $42.04, for a total transaction of $966,920.00. Following the completion of the transaction, the chief executive officer now owns 180,057 shares of the company’s stock, valued at $7,569,596.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.01% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bronfman E.L. Rothschild L.P. grew its holdings in shares of Manhattan Associates by 41.1% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,493 shares of the software maker’s stock worth $120,000 after purchasing an additional 726 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Manhattan Associates by 11.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,554 shares of the software maker’s stock worth $123,000 after purchasing an additional 271 shares during the last quarter. Zions Bancorporation bought a new stake in shares of Manhattan Associates during the third quarter worth about $128,000. Riverhead Capital Management LLC grew its holdings in shares of Manhattan Associates by 79.0% during the second quarter. Riverhead Capital Management LLC now owns 3,760 shares of the software maker’s stock worth $181,000 after purchasing an additional 1,660 shares during the last quarter. Finally, TrimTabs Asset Management LLC grew its holdings in shares of Manhattan Associates by 105.3% during the second quarter. TrimTabs Asset Management LLC now owns 3,761 shares of the software maker’s stock worth $181,000 after purchasing an additional 1,929 shares during the last quarter.

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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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