BidaskClub upgraded shares of Manhattan Associates (NASDAQ:MANH) from a buy rating to a strong-buy rating in a research report released on Thursday morning.
MANH has been the subject of several other research reports. ValuEngine lowered Manhattan Associates from a hold rating to a sell rating in a research note on Saturday, May 26th. Zacks Investment Research lowered Manhattan Associates from a hold rating to a sell rating in a research note on Friday, July 27th. Benchmark upgraded Manhattan Associates from a hold rating to a buy rating and set a $65.00 price target for the company in a research note on Friday, June 15th. Finally, TheStreet upgraded Manhattan Associates from a c+ rating to a b- rating in a research note on Friday, July 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Manhattan Associates currently has an average rating of Buy and an average price target of $60.00.
Shares of NASDAQ MANH traded down $0.03 during trading on Thursday, reaching $50.94. 171,645 shares of the company traded hands, compared to its average volume of 459,431. Manhattan Associates has a 12-month low of $39.10 and a 12-month high of $54.21. The firm has a market capitalization of $3.35 billion, a P/E ratio of 31.46 and a beta of 1.16.
In related news, VP Bruce Richards sold 7,740 shares of the company’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $49.84, for a total transaction of $385,761.60. Following the completion of the transaction, the vice president now directly owns 20,820 shares in the company, valued at approximately $1,037,668.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.99% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in MANH. Transamerica Financial Advisors Inc. acquired a new position in shares of Manhattan Associates in the 2nd quarter valued at $111,000. Hartford Investment Management Co. acquired a new stake in shares of Manhattan Associates during the 2nd quarter worth about $245,000. GAM Holding AG acquired a new stake in shares of Manhattan Associates during the 2nd quarter worth about $249,000. Ffcm LLC increased its position in shares of Manhattan Associates by 3,372.8% during the 1st quarter. Ffcm LLC now owns 6,251 shares of the software maker’s stock worth $262,000 after purchasing an additional 6,071 shares in the last quarter. Finally, Barings LLC acquired a new stake in shares of Manhattan Associates during the 2nd quarter worth about $291,000.
About Manhattan Associates
Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations for retailers, wholesalers, manufacturers, logistics providers, and other organizations. The company provides supply chain solutions, including distribution management, transportation management, and visibility solutions; omni-channel solutions; and inventory optimization and planning solutions.
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