Manhattan Associates (NASDAQ:MANH) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Tuesday.

A number of other research firms have also commented on MANH. Zacks Investment Research lowered shares of Manhattan Associates from a “hold” rating to a “sell” rating in a report on Monday. SunTrust Banks upgraded shares of Manhattan Associates from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Tuesday, October 3rd. They noted that the move was a valuation call. Finally, KeyCorp reiterated a “hold” rating on shares of Manhattan Associates in a report on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $65.00.

Manhattan Associates (MANH) traded up $0.25 during trading hours on Tuesday, reaching $45.53. 580,246 shares of the company were exchanged, compared to its average volume of 679,344. Manhattan Associates has a 52 week low of $40.75 and a 52 week high of $55.74. The company has a market cap of $3,140.00, a price-to-earnings ratio of 25.43 and a beta of 1.15.

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

In related news, CEO Eddie Capel sold 23,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were 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 directly owns 180,057 shares in the company, valued at approximately $7,569,596.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.01% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Bronfman E.L. Rothschild L.P. raised its holdings in Manhattan Associates by 41.1% in the 2nd 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Manhattan Associates by 11.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,554 shares of the software maker’s stock worth $123,000 after purchasing an additional 271 shares in the last quarter. Zions Bancorporation bought a new position in Manhattan Associates in the 3rd quarter worth $128,000. Victory Capital Management Inc. bought a new position in Manhattan Associates in the 3rd quarter worth $168,000. Finally, TrimTabs Asset Management LLC raised its holdings in Manhattan Associates by 105.3% in the 2nd quarter. TrimTabs Asset Management LLC now owns 3,761 shares of the software maker’s stock worth $181,000 after purchasing an additional 1,929 shares in the last quarter.

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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.

Analyst Recommendations for Manhattan Associates (NASDAQ:MANH)

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