Manhattan Associates (NASDAQ:MANH) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Manhattan Associates (NASDAQ:MANH) from a buy rating to a hold rating in a report published on Sunday morning,Wall Street Zen reports.

A number of other brokerages also recently issued reports on MANH. UBS Group set a $305.00 price objective on Manhattan Associates in a research report on Wednesday, October 28th. Citigroup upped their target price on shares of Manhattan Associates from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, October 28th. Barclays increased their target price on shares of Manhattan Associates from $201.00 to $239.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 8th. Weiss Ratings upgraded shares of Manhattan Associates from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 2nd. Finally, Robert W. Baird boosted their price target on shares of Manhattan Associates from $218.00 to $260.00 and gave the company an “outperform” rating in a research note on Wednesday, August 26th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Manhattan Associates currently has an average rating of “Moderate Buy” and an average price target of $261.11.

Manhattan Associates Stock Performance

MANH opened at $255.14 on Friday. The business’s 50 day moving average price is $218.20 and its 200 day moving average price is $167.48. The stock has a market capitalization of $14.81 billion, a PE ratio of 71.47 and a beta of 0.85. Manhattan Associates has a one year low of $119.06 and a one year high of $259.76.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, October 27th. The software maker reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.09. Manhattan Associates had a return on equity of 98.67% and a net margin of 18.41%. The company had revenue of $306.19 million for the quarter, compared to the consensus estimate of $297.01 million. During the same quarter in the previous year, the business earned $1.36 earnings per share. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, equities research analysts forecast that Manhattan Associates will post 3.88 earnings per share for the current fiscal year.

Insider Transactions at Manhattan Associates

In related news, CEO Eric Clark sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total transaction of $593,280.00. Following the completion of the transaction, the chief executive officer directly owned 89,638 shares in the company, valued at $17,726,810.88. This trade represents a 3.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.84% of the company’s stock.

Institutional Trading of Manhattan Associates

A number of institutional investors and hedge funds have recently bought and sold shares of MANH. BlackRock Inc. purchased a new position in Manhattan Associates in the second quarter worth approximately $944,285,000. Swedbank AB increased its position in shares of Manhattan Associates by 25.0% in the 1st quarter. Swedbank AB now owns 1,500,000 shares of the software maker’s stock valued at $199,680,000 after purchasing an additional 300,000 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Manhattan Associates by 0.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 711,615 shares of the software maker’s stock valued at $141,398,000 after purchasing an additional 3,658 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Manhattan Associates in the 2nd quarter valued at approximately $94,049,000. Finally, Bessemer Group Inc. raised its holdings in shares of Manhattan Associates by 6.2% in the 1st quarter. Bessemer Group Inc. now owns 670,427 shares of the software maker’s stock valued at $89,247,000 after purchasing an additional 39,125 shares in the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Company Profile

Manhattan Associates, Inc develops supply chain commerce software for retailers, wholesalers, manufacturers and logistics providers. Its solutions help organizations plan, execute and optimize inventory, warehouse, transportation and omnichannel fulfillment operations.

The company’s product portfolio includes warehouse management, transportation management, order management, inventory optimization, labor management and point-of-sale capabilities. Manhattan Associates also provides tools that support warehouse automation, store fulfillment, distributed order management and customer engagement across digital and physical retail channels.

Founded in 1990 and headquartered in Atlanta, Georgia, Manhattan Associates serves customers across North America, Europe, Asia-Pacific and other international markets.