Manhattan Associates, Inc. (NASDAQ:MANH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

According to Zacks, “Manhattan Associates, Inc., is the global leader in providing supply chain execution and optimization solutions. It enables operational excellence through its warehouse, transportation, distributed order management, reverse logistics and trading partner management solutions, as well as its RFID, performance management and event management capabilities. These Integrated Logistics Solutions(TM) leverage state-of-the-art technologies, innovative practices and domain expertise to enhance performance, profitability and competitive advantage. Manhattan Associates has licensed more than 900 customers representing more than 1,600 facilities worldwide, which include some of the world’s leading manufacturers, distributors and retailers. “

A number of other brokerages also recently issued reports on MANH. BidaskClub downgraded Manhattan Associates from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 9th. SunTrust Banks, Inc. upgraded Manhattan Associates from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Tuesday, October 3rd. They noted that the move was a valuation call. Finally, KeyCorp restated a “hold” rating on shares of Manhattan Associates in a research report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $65.00.

Manhattan Associates (MANH) opened at $42.42 on Friday. Manhattan Associates has a 1 year low of $40.75 and a 1 year high of $55.74. The stock has a market capitalization of $2,865.55, a PE ratio of 23.49 and a beta of 1.15.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, October 24th. The software maker reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.02. Manhattan Associates had a return on equity of 74.19% and a net margin of 20.38%. The company had revenue of $152.88 million during the quarter, compared to the consensus estimate of $150.30 million. During the same period last year, the company earned $0.50 earnings per share. The firm’s revenue was up .4% compared to the same quarter last year. equities analysts forecast that Manhattan Associates will post 1.75 EPS for the current fiscal year.

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In related news, CEO Eddie Capel sold 23,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $42.04, for a total transaction of $966,920.00. Following the completion of the sale, the chief executive officer now owns 180,057 shares of the company’s stock, valued at $7,569,596.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.01% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bronfman E.L. Rothschild L.P. grew its stake in Manhattan Associates by 41.1% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,493 shares of the software maker’s stock worth $120,000 after purchasing an additional 726 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Manhattan Associates by 11.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,554 shares of the software maker’s stock valued at $123,000 after acquiring an additional 271 shares during the period. Zions Bancorporation acquired a new stake in Manhattan Associates in the third quarter valued at approximately $128,000. Victory Capital Management Inc. acquired a new stake in Manhattan Associates in the third quarter valued at approximately $168,000. Finally, TrimTabs Asset Management LLC grew its stake in Manhattan Associates by 105.3% in the second quarter. TrimTabs Asset Management LLC now owns 3,761 shares of the software maker’s stock valued at $181,000 after acquiring an additional 1,929 shares during the period.

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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