StockNews.com Downgrades Manhattan Associates (NASDAQ:MANH) to Hold

StockNews.com downgraded shares of Manhattan Associates (NASDAQ:MANH) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

A number of other brokerages have also issued reports on MANH. William Blair reaffirmed a market perform rating on shares of Manhattan Associates in a research note on Wednesday, April 24th. DA Davidson lifted their target price on shares of Manhattan Associates from $260.00 to $285.00 and gave the stock a buy rating in a research note on Wednesday, July 24th. Rosenblatt Securities reaffirmed a neutral rating and set a $225.00 target price on shares of Manhattan Associates in a report on Wednesday, April 24th. Citigroup raised their price target on shares of Manhattan Associates from $220.00 to $257.00 and gave the stock a neutral rating in a research note on Friday, June 28th. Finally, Loop Capital upped their price objective on shares of Manhattan Associates from $250.00 to $265.00 and gave the company a buy rating in a research note on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $257.43.

Manhattan Associates Stock Performance

NASDAQ:MANH opened at $243.93 on Thursday. The stock has a market capitalization of $14.94 billion, a PE ratio of 79.72 and a beta of 1.50. Manhattan Associates has a fifty-two week low of $182.97 and a fifty-two week high of $266.94. The company has a fifty day moving average of $235.91 and a two-hundred day moving average of $236.27.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, July 23rd. The software maker reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.22. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The firm had revenue of $265.30 million during the quarter, compared to the consensus estimate of $255.83 million. During the same quarter in the prior year, the firm earned $0.63 EPS. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. Research analysts forecast that Manhattan Associates will post 3.01 earnings per share for the current year.

Insider Buying and Selling at Manhattan Associates

In other news, EVP James Stewart Gantt sold 6,000 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the sale, the executive vice president now owns 46,287 shares of the company’s stock, valued at approximately $11,872,615.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.72% of the stock is currently owned by company insiders.

Institutional Trading of Manhattan Associates

Hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. increased its position in shares of Manhattan Associates by 124.7% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 3,479 shares of the software maker’s stock valued at $749,000 after acquiring an additional 1,931 shares during the last quarter. Blue Trust Inc. raised its position in Manhattan Associates by 259.4% in the fourth quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock valued at $25,000 after purchasing an additional 83 shares during the period. State of Michigan Retirement System lifted its stake in Manhattan Associates by 6.8% during the fourth quarter. State of Michigan Retirement System now owns 15,731 shares of the software maker’s stock worth $3,387,000 after purchasing an additional 1,000 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Manhattan Associates by 25.9% during the fourth quarter. UMB Bank n.a. now owns 282 shares of the software maker’s stock worth $61,000 after buying an additional 58 shares during the period. Finally, Trust Point Inc. acquired a new stake in shares of Manhattan Associates in the fourth quarter valued at $290,000. 98.45% of the stock is owned by institutional investors and hedge funds.

About Manhattan Associates

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Warehouse Management Solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and Transportation Management Solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, POS, and customer engagement tools for enterprises and stores.