Shares of Manhattan Associates, Inc. (NASDAQ:MANH) have been given a consensus recommendation of “Buy” by the seven ratings firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $92.00.
A number of brokerages recently issued reports on MANH. Zacks Investment Research raised Manhattan Associates from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a research note on Tuesday, October 29th. SunTrust Banks raised their price target on Manhattan Associates from $85.00 to $92.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. BidaskClub lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. ValuEngine lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Benchmark reaffirmed a “buy” rating and set a $90.00 target price (up from $75.00) on shares of Manhattan Associates in a research report on Wednesday, July 24th.
Hedge funds and other institutional investors have recently modified their holdings of the business. Algert Global LLC raised its position in Manhattan Associates by 410.2% during the 2nd quarter. Algert Global LLC now owns 20,000 shares of the software maker’s stock valued at $1,387,000 after purchasing an additional 16,080 shares in the last quarter. Commerce Bank raised its position in Manhattan Associates by 35.7% during the 2nd quarter. Commerce Bank now owns 6,046 shares of the software maker’s stock valued at $419,000 after purchasing an additional 1,591 shares in the last quarter. APG Asset Management N.V. raised its position in Manhattan Associates by 123.5% during the 2nd quarter. APG Asset Management N.V. now owns 145,700 shares of the software maker’s stock valued at $8,870,000 after purchasing an additional 80,500 shares in the last quarter. JPMorgan Chase & Co. raised its position in Manhattan Associates by 38.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 123,513 shares of the software maker’s stock valued at $8,366,000 after purchasing an additional 34,350 shares in the last quarter. Finally, Neuburgh Advisers LLC increased its holdings in shares of Manhattan Associates by 4.5% in the 2nd quarter. Neuburgh Advisers LLC now owns 19,142 shares of the software maker’s stock valued at $1,327,000 after acquiring an additional 816 shares during the period.
Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, October 22nd. The software maker reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.15. Manhattan Associates had a return on equity of 63.78% and a net margin of 15.58%. The firm had revenue of $162.27 million during the quarter, compared to analyst estimates of $151.64 million. During the same period last year, the company earned $0.49 EPS. Manhattan Associates’s quarterly revenue was up 14.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Manhattan Associates will post 1.27 EPS for the current year.
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 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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