Zacks Investment Research upgraded shares of Manhattan Associates, Inc. (NASDAQ:MANH) from a sell rating to a hold rating in a report published on Tuesday.

According to Zacks, “Manhattan Associates is a leading provider of technology-based solutions to improve supply chain effectiveness and efficiencies. The company’s solutions enhance distribution efficiencies through the integration of supply chain constituents, including manufacturers, distributors, retailers, suppliers, transportation providers and end consumers. Their solutions consist of software; services, including design, configuration, implementation, and training services, plus customer support and software upgrades; and hardware. “

Several other brokerages have also recently weighed in on MANH. SunTrust Banks, Inc. assumed coverage on shares of Manhattan Associates in a research report on Monday, June 26th. They issued a hold rating and a $45.00 price target on the stock. BidaskClub upgraded shares of Manhattan Associates from a sell rating to a hold rating in a research report on Friday, June 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $59.50.

Manhattan Associates (NASDAQ MANH) opened at 41.31 on Tuesday. Manhattan Associates has a one year low of $40.83 and a one year high of $62.14. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of 23.86 and a beta of 1.15. The stock’s 50 day moving average is $44.20 and its 200-day moving average is $47.29.

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

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Several hedge funds have recently modified their holdings of the stock. World Asset Management Inc raised its stake in shares of Manhattan Associates by 0.4% in the second quarter. World Asset Management Inc now owns 5,015 shares of the software maker’s stock worth $241,000 after buying an additional 19 shares in the last quarter. Alps Advisors Inc. raised its stake in shares of Manhattan Associates by 0.3% in the second quarter. Alps Advisors Inc. now owns 9,559 shares of the software maker’s stock worth $459,000 after buying an additional 25 shares in the last quarter. Stephens Inc. AR raised its stake in shares of Manhattan Associates by 0.5% in the second quarter. Stephens Inc. AR now owns 6,086 shares of the software maker’s stock worth $292,000 after buying an additional 32 shares in the last quarter. Somerset Trust Co raised its stake in shares of Manhattan Associates by 0.7% in the second quarter. Somerset Trust Co now owns 5,640 shares of the software maker’s stock worth $271,000 after buying an additional 37 shares in the last quarter. Finally, Advantus Capital Management Inc raised its stake in shares of Manhattan Associates by 1.9% in the first quarter. Advantus Capital Management Inc now owns 9,013 shares of the software maker’s stock worth $469,000 after buying an additional 166 shares in the last quarter.

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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