Manhattan Associates, Inc. (MANH) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Manhattan Associates, Inc. (NASDAQ:MANH) have been given an average recommendation of “Hold” by the six analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $60.00.
A number of equities research analysts recently issued reports on MANH shares. Zacks Investment Research upgraded Manhattan Associates from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a research report on Friday, May 26th. SunTrust Banks, Inc. started coverage on Manhattan Associates in a research report on Monday, June 26th. They issued a “hold” rating and a $45.00 price objective on the stock. BidaskClub downgraded Manhattan Associates from a “hold” rating to a “sell” rating in a research report on Friday, June 9th. Finally, Benchmark Co. downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Friday, April 21st.
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Large investors have recently modified their holdings of the company. Brown Capital Management LLC increased its stake in shares of Manhattan Associates by 3.9% in the first quarter. Brown Capital Management LLC now owns 6,168,645 shares of the software maker’s stock worth $321,078,000 after buying an additional 229,639 shares during the period. Hermes Investment Management Ltd. acquired a new stake in shares of Manhattan Associates during the first quarter worth about $44,041,000. BlackRock Inc. increased its stake in shares of Manhattan Associates by 14,241.7% in the first quarter. BlackRock Inc. now owns 5,768,519 shares of the software maker’s stock worth $300,250,000 after buying an additional 5,728,297 shares during the period. Karp Capital Management Corp purchased a new position in Manhattan Associates during the first quarter worth approximately $960,000. Finally, Acrospire Investment Management LLC boosted its position 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 in the last quarter.
Shares of Manhattan Associates (NASDAQ:MANH) traded down 3.17% during trading on Tuesday, hitting $42.79. The stock had a trading volume of 345,811 shares. Manhattan Associates has a 1-year low of $42.50 and a 1-year high of $62.14. The firm’s 50 day moving average is $45.41 and its 200 day moving average is $47.71. The company has a market cap of $2.95 billion, a PE ratio of 24.72 and a beta of 1.15.
Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Thursday, July 20th. The software maker reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.02. Manhattan Associates had a return on equity of 75.58% and a net margin of 20.55%. The company had revenue of $154.10 million for the quarter, compared to the consensus estimate of $153.80 million. During the same quarter last year, the business posted $0.49 earnings per share. The firm’s revenue was down .5% compared to the same quarter last year. Equities research analysts anticipate that Manhattan Associates will post $1.87 EPS for the current fiscal year.
Manhattan Associates announced that its Board of Directors has initiated a share buyback program on Thursday, April 20th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the software maker to buy up to 1.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.
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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