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. “

Separately, Benchmark Co. lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Friday, April 21st.

Manhattan Associates (NASDAQ:MANH) traded up 2.04% on Wednesday, reaching $47.51. 442,330 shares of the company traded hands. The stock has a 50-day moving average of $47.37 and a 200 day moving average of $50.31. The company has a market capitalization of $3.30 billion, a PE ratio of 27.27 and a beta of 1.13. Manhattan Associates has a 52-week low of $44.83 and a 52-week high of $68.53.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Thursday, April 20th. The software maker reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. Manhattan Associates had a net margin of 20.55% and a return on equity of 70.51%. The firm had revenue of $143.49 million for the quarter, compared to analyst estimates of $146.49 million. During the same quarter last year, the business posted $0.42 earnings per share. The company’s quarterly revenue was down 4.3% on a year-over-year basis. On average, equities analysts forecast that Manhattan Associates will post $1.90 EPS for the current year.

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Hedge funds have recently modified their holdings of the stock. HighTower Advisors LLC bought a new stake in shares of Manhattan Associates during the first quarter worth $437,000. Credit Suisse AG raised its stake in shares of Manhattan Associates by 33.6% in the first quarter. Credit Suisse AG now owns 101,610 shares of the software maker’s stock worth $5,288,000 after buying an additional 25,563 shares in the last quarter. Tudor Investment Corp ET AL raised its stake in shares of Manhattan Associates by 18.0% in the first quarter. Tudor Investment Corp ET AL now owns 15,359 shares of the software maker’s stock worth $799,000 after buying an additional 2,346 shares in the last quarter. Investment Centers of America Inc. bought a new stake in shares of Manhattan Associates during the first quarter worth $222,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Manhattan Associates during the first quarter worth $1,559,000. Hedge funds and other institutional investors own 99.68% 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 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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