Manhattan Associates (NASDAQ:MANH) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Wednesday.
A number of other research analysts have also issued reports on MANH. Zacks Investment Research upgraded shares of Manhattan Associates from a “sell” rating to a “hold” rating in a research report on Saturday, November 18th. TheStreet lowered shares of Manhattan Associates from a “b-” rating to a “c+” rating in a research report on Tuesday, February 20th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $55.00.
Manhattan Associates (MANH) opened at $42.30 on Wednesday. Manhattan Associates has a 52-week low of $39.63 and a 52-week high of $54.21. The stock has a market cap of $2,880.00, a P/E ratio of 25.48 and a beta of 1.08.
Manhattan Associates declared that its Board of Directors has initiated a share buyback program on Tuesday, February 6th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the software maker to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
Large investors have recently made changes to their positions in the business. BB&T Investment Services Inc. boosted its position in shares of Manhattan Associates by 128.5% during the 4th quarter. BB&T Investment Services Inc. now owns 2,098 shares of the software maker’s stock worth $106,000 after acquiring an additional 1,180 shares in the last quarter. Zions Bancorporation acquired a new stake in shares of Manhattan Associates during the 3rd quarter worth approximately $128,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Manhattan Associates by 45.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,719 shares of the software maker’s stock worth $184,000 after acquiring an additional 1,165 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Manhattan Associates during the 3rd quarter worth approximately $168,000. Finally, Advisory Services Network LLC boosted its position in shares of Manhattan Associates by 2,191.1% during the 4th quarter. Advisory Services Network LLC now owns 4,651 shares of the software maker’s stock worth $230,000 after acquiring an additional 4,448 shares in the last quarter.
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.
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