BidaskClub cut shares of Manhattan Associates (NASDAQ:MANH) from a buy rating to a hold rating in a report published on Friday morning.

A number of other research analysts have also recently commented on MANH. Benchmark reiterated a buy rating and set a $65.00 price target (up from $55.00) on shares of Manhattan Associates in a research report on Friday, September 14th. SunTrust Banks cut shares of Manhattan Associates from a buy rating to a hold rating in a report on Wednesday, September 26th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of Manhattan Associates from a hold rating to a strong-buy rating and set a $52.00 target price on the stock in a report on Tuesday, October 30th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Manhattan Associates currently has an average rating of Buy and an average target price of $54.00.

Shares of NASDAQ MANH opened at $46.86 on Friday. Manhattan Associates has a one year low of $39.10 and a one year high of $62.39. The company has a market cap of $3.14 billion, a price-to-earnings ratio of 27.24 and a beta of 1.24.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, October 23rd. The software maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.09. Manhattan Associates had a net margin of 18.48% and a return on equity of 71.67%. The business had revenue of $142.40 million for the quarter, compared to analysts’ expectations of $142.38 million. During the same period last year, the business earned $0.51 earnings per share. The business’s quarterly revenue was down 6.9% on a year-over-year basis. On average, equities research analysts predict that Manhattan Associates will post 1.48 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of MANH. Harvest Fund Management Co. Ltd bought a new position in shares of Manhattan Associates in the third quarter worth approximately $104,000. Macquarie Group Ltd. grew its holdings in shares of Manhattan Associates by 366.7% in the second quarter. Macquarie Group Ltd. now owns 2,800 shares of the software maker’s stock worth $132,000 after purchasing an additional 2,200 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of Manhattan Associates by 2,378.4% in the third quarter. Bessemer Group Inc. now owns 3,098 shares of the software maker’s stock worth $169,000 after purchasing an additional 2,973 shares during the last quarter. New England Asset Management Inc. bought a new position in shares of Manhattan Associates in the second quarter worth approximately $198,000. Finally, First Republic Investment Management Inc. bought a new position in shares of Manhattan Associates in the third quarter worth approximately $218,000.

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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