Zacks Investment Research upgraded shares of Manhattan Associates, Inc. (NASDAQ:MANH) from a hold rating to a buy rating in a research report sent to investors on Thursday. Zacks Investment Research currently has $53.00 price target on the software maker’s stock.
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. “
Several other equities research analysts also recently commented on the company. BidaskClub downgraded Manhattan Associates from a hold rating to a sell rating in a report on Friday, June 9th. Benchmark Co. downgraded Manhattan Associates from a buy rating to a hold rating in a report on Friday, April 21st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $66.75.
Manhattan Associates (NASDAQ:MANH) opened at 46.70 on Thursday. The company has a 50 day moving average price of $46.62 and a 200-day moving average price of $49.49. Manhattan Associates has a one year low of $44.83 and a one year high of $68.00. The company has a market capitalization of $3.24 billion, a PE ratio of 26.81 and a beta of 1.11.
Manhattan Associates (NASDAQ:MANH) last released its earnings results on Thursday, April 20th. The software maker reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.04. Manhattan Associates had a return on equity of 73.76% and a net margin of 20.89%. The business had revenue of $143.49 million for the quarter, compared to the consensus estimate of $146.49 million. During the same period in the previous year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. Analysts expect that Manhattan Associates will post $1.90 EPS for the current fiscal year.
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Large investors have recently added to or reduced their stakes in the company. Piedmont Investment Advisors LLC increased its stake in Manhattan Associates by 131.2% in the first quarter. Piedmont Investment Advisors LLC now owns 6,496 shares of the software maker’s stock valued at $338,000 after buying an additional 3,686 shares during the period. HighTower Advisors LLC bought a new stake in Manhattan Associates during the first quarter valued at approximately $437,000. Credit Suisse AG increased its position in shares of Manhattan Associates by 33.6% in the first quarter. Credit Suisse AG now owns 101,610 shares of the software maker’s stock worth $5,288,000 after buying an additional 25,563 shares during the last quarter. Tudor Investment Corp ET AL increased its position in shares of Manhattan Associates by 18.0% in the first quarter. Tudor Investment Corp ET AL now owns 15,359 shares of the software maker’s stock worth $799,000 after buying an additional 2,346 shares during the last quarter. Finally, Investment Centers of America Inc. acquired a new position in shares of Manhattan Associates during the first quarter worth about $222,000.
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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