Shares of Manhattan Associates Inc. (NASDAQ:MANH) traded down 1.8% during mid-day trading on Wednesday . The company traded as low as $57.84 and last traded at $57.98, with a volume of 254,716 shares changing hands. The stock had previously closed at $59.07.

Several research firms have commented on MANH. Zacks Investment Research downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Wednesday. Brean Capital reaffirmed a “buy” rating and set a $75.00 price objective on shares of Manhattan Associates in a research note on Wednesday, August 3rd. Finally, Raymond James Financial Inc. reaffirmed an “outperform” rating and set a $74.00 price objective (down from $75.00) on shares of Manhattan Associates in a research note on Friday, July 15th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $72.17.

The stock has a 50-day moving average price of $59.56 and a 200 day moving average price of $60.81. The firm has a market capitalization of $4.16 billion, a price-to-earnings ratio of 36.79 and a beta of 1.30.

Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, July 19th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.05. Manhattan Associates had a return on equity of 62.72% and a net margin of 19.56%. The business had revenue of $154.90 million for the quarter, compared to analyst estimates of $153.75 million. During the same period in the previous year, the company earned $0.37 earnings per share. On average, analysts anticipate that Manhattan Associates Inc. will post $1.79 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the company. FMR LLC increased its position in Manhattan Associates by 16,882.8% in the second quarter. FMR LLC now owns 874,954 shares of the company’s stock worth $56,110,000 after buying an additional 869,802 shares during the period. Fiera Capital Corp increased its position in Manhattan Associates by 3,979.5% in the second quarter. Fiera Capital Corp now owns 787,350 shares of the company’s stock worth $50,493,000 after buying an additional 768,050 shares during the period. Norges Bank purchased a new position in Manhattan Associates during the fourth quarter worth approximately $48,965,000. Atlanta Capital Management Co. L L C increased its position in Manhattan Associates by 16.8% in the first quarter. Atlanta Capital Management Co. L L C now owns 4,196,808 shares of the company’s stock worth $238,672,000 after buying an additional 604,984 shares during the period. Finally, Congress Asset Management Co. MA purchased a new position in Manhattan Associates during the second quarter worth approximately $37,692,000. 97.82% of the stock is currently owned by institutional investors and hedge funds.

About Manhattan Associates

Manhattan Associates, Inc (Manhattan) is a developer and provider of supply chain commerce solutions. The Company has 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.

5 Day Chart for NASDAQ:MANH

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