Manhattan Associates, Inc. (MANH) Receives $65.00 Average PT from Brokerages

Manhattan Associates, Inc. (NASDAQ:MANH) has received an average rating of “Hold” from the seven research firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $65.00.

Several equities research analysts recently issued reports on MANH shares. Zacks Investment Research raised shares of Manhattan Associates from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. BidaskClub downgraded Manhattan Associates from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. SunTrust Banks, Inc. upgraded Manhattan Associates from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note 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 note on Tuesday, October 17th.

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

Hedge funds have recently bought and sold shares of the business. Bronfman E.L. Rothschild L.P. boosted its stake 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake 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 during the period. Riverhead Capital Management LLC boosted its stake in Manhattan Associates by 79.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,760 shares of the software maker’s stock worth $181,000 after purchasing an additional 1,660 shares during the period. TrimTabs Asset Management LLC boosted its stake 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 during the period. Finally, Lloyds Banking Group plc boosted its stake in Manhattan Associates by 62.0% in the 2nd quarter. Lloyds Banking Group plc now owns 3,934 shares of the software maker’s stock worth $189,000 after purchasing an additional 1,505 shares during the period.

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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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