Manhattan Associates (NASDAQ:MANH) announced that its Board of Directors has initiated a share buyback program, which permits the company to buyback $50.00 million in outstanding shares on Tuesday, February 6th, EventVestor reports. This buyback authorization permits the software maker to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
A number of equities analysts have weighed in on MANH shares. Zacks Investment Research cut shares of Manhattan Associates from a “hold” rating to a “sell” rating in a research report on Monday, December 11th. BidaskClub upgraded shares of Manhattan Associates from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. Finally, KeyCorp reiterated a “hold” rating on shares of Manhattan Associates in a research report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $55.00.
Shares of Manhattan Associates (MANH) traded down $6.90 on Wednesday, hitting $43.57. 2,079,845 shares of the company were exchanged, compared to its average volume of 576,366. Manhattan Associates has a 12-month low of $40.75 and a 12-month high of $54.21. The stock has a market capitalization of $3,453.55, a price-to-earnings ratio of 29.01 and a beta of 1.08.
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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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