Manhattan Associates (MANH) Stock Rating Lowered by BidaskClub
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.
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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