Manhattan Associates (NASDAQ:MANH) Upgraded at BidaskClub

BidaskClub upgraded shares of Manhattan Associates (NASDAQ:MANH) from a hold rating to a buy rating in a research report released on Wednesday morning, BidAskClub reports.

Several other equities analysts also recently issued reports on the stock. Rosenblatt Securities reissued a buy rating and set a $100.00 price objective on shares of Manhattan Associates in a research note on Friday, November 8th. ValuEngine downgraded shares of Manhattan Associates from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research downgraded shares of Manhattan Associates from a buy rating to a hold rating in a research note on Wednesday, December 25th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $92.00.

Shares of MANH traded up $0.40 on Wednesday, hitting $84.82. 5,634 shares of the stock traded hands, compared to its average volume of 271,893. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $5.39 billion, a P/E ratio of 53.73 and a beta of 1.47. The stock’s 50 day moving average is $80.89 and its two-hundred day moving average is $79.88. Manhattan Associates has a 1 year low of $46.39 and a 1 year high of $89.53.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, October 22nd. The software maker reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.15. The business had revenue of $162.27 million for the quarter, compared to the consensus estimate of $151.64 million. Manhattan Associates had a net margin of 15.58% and a return on equity of 63.78%. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.49 earnings per share. Research analysts forecast that Manhattan Associates will post 1.27 EPS for the current year.

A number of large investors have recently bought and sold shares of MANH. Invesco Ltd. raised its stake in Manhattan Associates by 395.8% during the second quarter. Invesco Ltd. now owns 1,269,860 shares of the software maker’s stock worth $88,039,000 after purchasing an additional 1,013,762 shares during the period. Nuveen Asset Management LLC purchased a new position in Manhattan Associates during the second quarter worth approximately $18,288,000. First Trust Advisors LP raised its stake in Manhattan Associates by 101.4% during the third quarter. First Trust Advisors LP now owns 385,867 shares of the software maker’s stock worth $31,128,000 after purchasing an additional 194,249 shares during the period. BlackRock Inc. raised its stake in Manhattan Associates by 2.2% during the second quarter. BlackRock Inc. now owns 6,325,561 shares of the software maker’s stock worth $438,551,000 after purchasing an additional 137,409 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its stake in Manhattan Associates by 50.4% during the second quarter. D. E. Shaw & Co. Inc. now owns 334,722 shares of the software maker’s stock worth $23,207,000 after purchasing an additional 112,147 shares during the period.

Manhattan Associates Company Profile

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 offers Manhattan SCALE, a portfolio of logistics execution solutions that provide trading partner management, yard management, optimization, warehouse management, and transportation execution services; and Manhattan Active, a set of enterprise and store omni-channel solutions.

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