Manhattan Associates (NASDAQ:MANH) was downgraded by stock analysts at SunTrust Banks from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, The Fly reports. The analysts noted that the move was a valuation call.

Several other equities research analysts also recently weighed in on the stock. Benchmark upgraded shares of Manhattan Associates from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Friday, June 15th. BidaskClub upgraded shares of Manhattan Associates from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 9th. Zacks Investment Research downgraded shares of Manhattan Associates from a “hold” rating to a “sell” rating in a research note on Friday, July 27th. ValuEngine upgraded shares of Manhattan Associates from a “hold” rating to a “buy” rating in a research note on Tuesday, July 24th. Finally, TheStreet upgraded shares of Manhattan Associates from a “c+” rating to a “b-” rating in a research note on Friday, July 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $60.00.

Shares of MANH opened at $56.37 on Wednesday. Manhattan Associates has a fifty-two week low of $39.10 and a fifty-two week high of $62.39. The stock has a market cap of $3.71 billion, a PE ratio of 32.77 and a beta of 1.26.

Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, July 24th. The software maker reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.06. Manhattan Associates had a net margin of 18.87% and a return on equity of 68.14%. The business had revenue of $141.90 million during the quarter, compared to the consensus estimate of $140.42 million. During the same quarter in the prior year, the firm earned $0.50 earnings per share. The business’s quarterly revenue was down 7.9% compared to the same quarter last year. research analysts expect that Manhattan Associates will post 1.36 EPS for the current fiscal year.

In related news, Director John J. Huntz, Jr. sold 2,000 shares of the firm’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $56.42, for a total value of $112,840.00. Following the completion of the sale, the director now owns 72,636 shares in the company, valued at $4,098,123.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Bruce Richards sold 7,740 shares of the firm’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $49.84, for a total transaction of $385,761.60. Following the completion of the sale, the vice president now owns 20,820 shares of the company’s stock, valued at approximately $1,037,668.80. The disclosure for this sale can be found here. Insiders have sold 12,560 shares of company stock valued at $646,905 in the last quarter. Insiders own 0.99% of the company’s stock.

A number of large investors have recently made changes to their positions in MANH. Old Mutual Global Investors UK Ltd. lifted its position in Manhattan Associates by 4,463.3% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 871,858 shares of the software maker’s stock valued at $36,513,000 after purchasing an additional 852,752 shares during the period. Legal & General Group Plc lifted its position in Manhattan Associates by 455.7% in the first quarter. Legal & General Group Plc now owns 375,838 shares of the software maker’s stock valued at $15,740,000 after purchasing an additional 308,209 shares during the period. Dimensional Fund Advisors LP lifted its position in Manhattan Associates by 31.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,074,707 shares of the software maker’s stock valued at $45,009,000 after purchasing an additional 254,159 shares during the period. Russell Investments Group Ltd. lifted its position in Manhattan Associates by 43.2% in the first quarter. Russell Investments Group Ltd. now owns 824,093 shares of the software maker’s stock valued at $34,501,000 after purchasing an additional 248,651 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in Manhattan Associates in the second quarter valued at about $7,919,000.

Manhattan Associates Company Profile

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations for retailers, wholesalers, manufacturers, logistics providers, and other organizations. The company provides supply chain solutions, including distribution management, transportation management, and visibility solutions; omni-channel solutions; and inventory optimization and planning solutions.

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