Manhattan Associates (MANH) Upgraded to “Sell” at BidaskClub
BidaskClub upgraded shares of Manhattan Associates (NASDAQ:MANH) from a strong sell rating to a sell rating in a research note published on Tuesday.
MANH has been the subject of several other research reports. Zacks Investment Research raised shares of Manhattan Associates from a sell rating to a hold rating in a research note on Tuesday, August 29th. KeyCorp reissued a hold rating on shares of Manhattan Associates in a research note on Tuesday, October 17th. Finally, SunTrust Banks raised shares of Manhattan Associates from a hold rating to a buy rating and set a $55.00 price objective for the company in a research note on Tuesday, October 3rd. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $65.00.
Shares of Manhattan Associates (NASDAQ:MANH) traded up $0.25 during midday trading on Tuesday, reaching $45.53. 580,200 shares of the company’s stock traded hands, compared to its average volume of 679,344. The company has a market capitalization of $3,121.29, a P/E ratio of 25.58 and a beta of 1.15. Manhattan Associates has a twelve month low of $40.75 and a twelve month high of $55.74.
Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, October 24th. The software maker reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.02. The business had revenue of $152.88 million during the quarter, compared to the consensus estimate of $150.30 million. Manhattan Associates had a net margin of 20.38% and a return on equity of 74.19%. The firm’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.50 earnings per share. equities research analysts predict that Manhattan Associates will post 1.75 EPS for the current year.
In other news, CEO Eddie Capel sold 23,000 shares of Manhattan Associates stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $42.04, for a total transaction of $966,920.00. Following the completion of the sale, the chief executive officer now owns 180,057 shares of the company’s stock, valued at $7,569,596.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.01% of the company’s stock.
Several institutional investors have recently bought and sold shares of MANH. Great West Life Assurance Co. Can raised its stake in shares of Manhattan Associates by 2.5% during the second quarter. Great West Life Assurance Co. Can now owns 42,480 shares of the software maker’s stock valued at $2,041,000 after acquiring an additional 1,018 shares in the last quarter. World Asset Management Inc raised its stake in shares of Manhattan Associates by 0.4% during the second quarter. World Asset Management Inc now owns 5,015 shares of the software maker’s stock valued at $241,000 after acquiring an additional 19 shares in the last quarter. Sei Investments Co. raised its stake in shares of Manhattan Associates by 3.7% during the second quarter. Sei Investments Co. now owns 58,306 shares of the software maker’s stock valued at $2,802,000 after acquiring an additional 2,104 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Manhattan Associates by 5.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 334,620 shares of the software maker’s stock valued at $16,082,000 after acquiring an additional 17,931 shares in the last quarter. Finally, Wedge Capital Management L L P NC bought a new stake in shares of Manhattan Associates during the second quarter valued at approximately $474,000.
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About Manhattan Associates
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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