Manhattan Associates (NASDAQ:MANH) Lifted to Strong-Buy at BidaskClub

BidaskClub upgraded shares of Manhattan Associates (NASDAQ:MANH) from a buy rating to a strong-buy rating in a report issued on Tuesday morning, BidAskClub reports.

Several other analysts have also recently weighed in on the company. ValuEngine cut Manhattan Associates from a buy rating to a hold rating in a report on Wednesday, October 2nd. SunTrust Banks upped their target price on Manhattan Associates from $85.00 to $92.00 and gave the company a buy rating in a report on Monday, August 12th. Benchmark reiterated a buy rating and issued a $90.00 target price (up from $75.00) on shares of Manhattan Associates in a report on Wednesday, July 24th. Rosenblatt Securities initiated coverage on Manhattan Associates in a report on Thursday, August 15th. They issued a buy rating and a $100.00 target price on the stock. Finally, Zacks Investment Research cut Manhattan Associates from a buy rating to a hold rating in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $95.50.

NASDAQ:MANH opened at $86.64 on Tuesday. The stock has a market cap of $5.49 billion, a P/E ratio of 58.04 and a beta of 1.51. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.23. The stock’s 50-day moving average is $82.58 and its 200-day moving average is $72.22. Manhattan Associates has a 1-year low of $39.01 and a 1-year high of $89.53.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, July 23rd. The software maker reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.17. The company had revenue of $154.30 million for the quarter, compared to analysts’ expectations of $146.00 million. Manhattan Associates had a return on equity of 66.00% and a net margin of 16.33%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.47 earnings per share. As a group, equities analysts forecast that Manhattan Associates will post 1.11 EPS for the current year.

In other Manhattan Associates news, CFO Dennis B. Story sold 10,600 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $85.00, for a total transaction of $901,000.00. Following the transaction, the chief financial officer now directly owns 124,533 shares in the company, valued at approximately $10,585,305. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Eddie Capel sold 40,000 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $87.48, for a total value of $3,499,200.00. Following the transaction, the chief executive officer now owns 261,357 shares in the company, valued at $22,863,510.36. The disclosure for this sale can be found here. Insiders sold 54,100 shares of company stock worth $4,697,840 over the last quarter. 0.68% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Truewealth LLC bought a new position in shares of Manhattan Associates during the 2nd quarter worth approximately $25,000. Cullen Frost Bankers Inc. bought a new position in shares of Manhattan Associates during the 2nd quarter worth approximately $40,000. CWM LLC boosted its holdings in shares of Manhattan Associates by 25.4% during the 2nd quarter. CWM LLC now owns 647 shares of the software maker’s stock worth $45,000 after buying an additional 131 shares in the last quarter. Transamerica Financial Advisors Inc. bought a new position in shares of Manhattan Associates during the 2nd quarter worth approximately $111,000. Finally, HM Payson & Co. bought a new position in shares of Manhattan Associates during the 2nd quarter worth approximately $143,000.

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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