Manhattan Associates, Inc. (NASDAQ:MANH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The brokerage presently has a $53.00 price objective on the software maker’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.15% from the company’s current price.

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. downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Friday, April 21st.

Shares of Manhattan Associates (NASDAQ:MANH) traded down 0.61% on Friday, hitting $47.26. The stock had a trading volume of 446,080 shares. The firm has a 50 day moving average price of $47.27 and a 200-day moving average price of $50.26. Manhattan Associates has a 52 week low of $44.83 and a 52 week high of $68.53. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 27.13 and a beta of 1.13.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Thursday, April 20th. The software maker reported $0.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.04. Manhattan Associates had a return on equity of 70.51% and a net margin of 20.55%. The firm had revenue of $143.49 million during the quarter, compared to the consensus estimate of $146.49 million. During the same quarter in the previous year, the company posted $0.42 EPS. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. Analysts anticipate that Manhattan Associates will post $1.90 EPS for the current year.

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Several large investors have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC increased its stake in Manhattan Associates by 20.9% in the first quarter. Acrospire Investment Management LLC now owns 2,177 shares of the software maker’s stock worth $113,000 after buying an additional 377 shares during the last quarter. Lloyds Banking Group plc purchased a new stake in Manhattan Associates during the first quarter worth $126,000. Tyers Asset Management LLC purchased a new stake in Manhattan Associates during the fourth quarter worth $142,000. Flinton Capital Management LLC purchased a new stake in Manhattan Associates during the fourth quarter worth $181,000. Finally, Investment Centers of America Inc. purchased a new stake in Manhattan Associates during the first quarter worth $222,000. Institutional investors own 99.68% of the company’s stock.

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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