Zacks Investment Research Lowers Manhattan Associates Inc. (MANH) to Hold
Manhattan Associates Inc. (NASDAQ:MANH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Manhattan Associates is a leading provider of technology-based solutions to improve supply chain effectiveness and efficiencies. The company’s solutions enhance distribution efficiencies through the integration of supply chain constituents, including manufacturers, distributors, retailers, suppliers, transportation providers and end consumers. Their solutions consist of software; services, including design, configuration, implementation, and training services, plus customer support and software upgrades; and hardware. “
A number of other equities analysts also recently issued reports on MANH. Brean Capital reissued a “buy” rating and issued a $75.00 price target on shares of Manhattan Associates in a research note on Saturday, June 25th. Raymond James Financial Inc. reissued an “outperform” rating and issued a $74.00 price target (down from $75.00) on shares of Manhattan Associates in a research note on Friday, July 15th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Manhattan Associates has an average rating of “Buy” and a consensus target price of $72.17.
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Manhattan Associates (NASDAQ:MANH) opened at 59.07 on Wednesday. Manhattan Associates has a 52-week low of $44.14 and a 52-week high of $77.75. The firm’s 50 day moving average is $59.55 and its 200 day moving average is $60.83. The company has a market cap of $4.23 billion, a PE ratio of 37.39 and a beta of 1.30.
Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, July 19th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.05. Manhattan Associates had a net margin of 19.56% and a return on equity of 62.72%. The company earned $154.90 million during the quarter, compared to the consensus estimate of $153.75 million. During the same period in the prior year, the firm earned $0.37 earnings per share. Analysts forecast that Manhattan Associates will post $1.79 EPS for the current fiscal year.
A number of large investors have recently made changes to their positions in the company. Atlanta Capital Management Co. L L C boosted its stake in shares of Manhattan Associates by 1.5% in the second quarter. Atlanta Capital Management Co. L L C now owns 4,259,479 shares of the company’s stock worth $273,160,000 after buying an additional 62,671 shares during the period. Neuberger Berman Group LLC boosted its stake in Manhattan Associates by 6.5% in the second quarter. Neuberger Berman Group LLC now owns 3,872,121 shares of the company’s stock worth $248,319,000 after buying an additional 237,415 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Manhattan Associates by 4.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,501,847 shares of the company’s stock worth $160,443,000 after buying an additional 105,712 shares during the last quarter. State Street Corp boosted its stake in Manhattan Associates by 1.4% in the first quarter. State Street Corp now owns 2,440,798 shares of the company’s stock worth $138,804,000 after buying an additional 34,235 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Manhattan Associates by 17.1% in the second quarter. PNC Financial Services Group Inc. now owns 1,299,380 shares of the company’s stock worth $83,330,000 after buying an additional 189,914 shares during the last quarter. Institutional investors and hedge funds own 98.13% of the company’s stock.
Manhattan Associates Company Profile
Manhattan Associates, Inc (Manhattan) is a developer and provider of supply chain commerce solutions. The Company has 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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