Manhattan Associates (MANH) Raised to Buy at BidaskClub

BidaskClub upgraded shares of Manhattan Associates (NASDAQ:MANH) from a hold rating to a buy rating in a research report released on Wednesday morning.

A number of other analysts have also commented on the company. Zacks Investment Research raised Manhattan Associates from a sell rating to a hold rating in a research note on Saturday, November 18th. SunTrust Banks raised Manhattan Associates from a hold rating to a buy rating and set a $55.00 price objective on the stock in a research note on Tuesday, October 3rd. They noted that the move was a valuation call. Finally, KeyCorp reissued a hold rating on shares of Manhattan Associates in a research note on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $60.00.

Manhattan Associates (MANH) opened at $49.54 on Wednesday. The stock has a market capitalization of $3,460.00, a P/E ratio of 28.47 and a beta of 1.15. Manhattan Associates has a fifty-two week low of $40.75 and a fifty-two week high of $55.74.

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

In other Manhattan Associates news, CEO Eddie Capel sold 23,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $42.04, for a total value 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 approximately $7,569,596.28. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.01% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. lifted its position in 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 acquiring an additional 726 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Manhattan Associates by 11.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,554 shares of the software maker’s stock valued at $123,000 after purchasing an additional 271 shares in the last quarter. Zions Bancorporation bought a new stake in shares of Manhattan Associates during the third quarter worth $128,000. Riverhead Capital Management LLC grew its stake in shares of Manhattan Associates by 79.0% in 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, Victory Capital Management Inc. acquired a new position in Manhattan Associates in the third quarter valued at $168,000.

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Manhattan Associates Company Profile

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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