Brokerages Set Manhattan Associates, Inc. (MANH) PT at $55.00

Shares of Manhattan Associates, Inc. (NASDAQ:MANH) have earned an average rating of “Hold” from the seven analysts that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $55.00.

A number of analysts have weighed in on the stock. BidaskClub cut shares of Manhattan Associates from a “hold” rating to a “sell” rating in a research note on Wednesday, February 28th. ValuEngine cut shares of Manhattan Associates from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. TheStreet cut shares of Manhattan Associates from a “b-” rating to a “c+” rating in a research note on Tuesday, February 20th. Finally, Zacks Investment Research cut shares of Manhattan Associates from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th.

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Shares of Manhattan Associates stock traded up $0.13 during trading hours on Monday, reaching $41.56. 729,075 shares of the company were exchanged, compared to its average volume of 732,034. The company has a market capitalization of $2,816.01, a PE ratio of 24.74 and a beta of 1.26. Manhattan Associates has a fifty-two week low of $39.63 and a fifty-two week high of $54.21.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.45. The business had revenue of $144.09 million for the quarter, compared to analysts’ expectations of $144.86 million. Manhattan Associates had a net margin of 19.59% and a return on equity of 72.02%. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period last year, the firm posted $0.46 earnings per share. research analysts forecast that Manhattan Associates will post 1.29 EPS for the current fiscal year.

Manhattan Associates announced that its board has authorized a share repurchase program on Tuesday, February 6th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the software maker to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

In other Manhattan Associates news, Director John J. Huntz, Jr. sold 3,592 shares of the business’s stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $45.52, for a total transaction of $163,507.84. Following the sale, the director now owns 70,799 shares of the company’s stock, valued at $3,222,770.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Bruce Richards sold 5,600 shares of the business’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $45.07, for a total transaction of $252,392.00. Following the sale, the vice president now directly owns 28,560 shares in the company, valued at approximately $1,287,199.20. The disclosure for this sale can be found here. Insiders own 1.01% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Manhattan Associates by 45.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,719 shares of the software maker’s stock worth $184,000 after purchasing an additional 1,165 shares during the period. BB&T Investment Services Inc. lifted its holdings in shares of Manhattan Associates by 128.5% during the fourth quarter. BB&T Investment Services Inc. now owns 2,098 shares of the software maker’s stock worth $106,000 after purchasing an additional 1,180 shares during the period. Teachers Advisors LLC lifted its holdings in shares of Manhattan Associates by 1.6% during the fourth quarter. Teachers Advisors LLC now owns 76,988 shares of the software maker’s stock worth $3,814,000 after purchasing an additional 1,217 shares during the period. Wedge Capital Management L L P NC lifted its holdings in shares of Manhattan Associates by 18.4% during the fourth quarter. Wedge Capital Management L L P NC now owns 10,717 shares of the software maker’s stock worth $531,000 after purchasing an additional 1,662 shares during the period. Finally, Flinton Capital Management LLC lifted its holdings in shares of Manhattan Associates by 25.4% during the fourth quarter. Flinton Capital Management LLC now owns 8,288 shares of the software maker’s stock worth $411,000 after purchasing an additional 1,680 shares during the period.

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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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