Manhattan Associates (NASDAQ:MANH) Upgraded to “Buy” at BidaskClub

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

MANH has been the subject of a number of other reports. Zacks Investment Research cut shares of Manhattan Associates from a buy rating to a hold rating in a research report on Wednesday, December 25th. Rosenblatt Securities reaffirmed a buy rating and issued a $100.00 target price on shares of Manhattan Associates in a report on Friday, November 8th. Finally, ValuEngine cut shares of Manhattan Associates from a buy rating to a hold rating in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $92.00.

MANH traded up $0.40 on Wednesday, reaching $84.82. The company had a trading volume of 5,634 shares, compared to its average volume of 271,893. Manhattan Associates has a 1 year low of $46.39 and a 1 year high of $89.53. The stock has a market capitalization of $5.39 billion, a PE ratio of 53.73 and a beta of 1.47. 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 stock has a 50-day moving average price of $80.89 and a 200-day moving average price of $79.88.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results on Tuesday, October 22nd. The software maker reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.15. Manhattan Associates had a net margin of 15.58% and a return on equity of 63.78%. The firm had revenue of $162.27 million during the quarter, compared to analysts’ expectations of $151.64 million. During the same period in the previous year, the company earned $0.49 earnings per share. Manhattan Associates’s quarterly revenue was up 14.0% compared to the same quarter last year. As a group, analysts expect that Manhattan Associates will post 1.27 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in MANH. Invesco Ltd. raised its holdings in shares of Manhattan Associates by 395.8% in the second quarter. Invesco Ltd. now owns 1,269,860 shares of the software maker’s stock valued at $88,039,000 after buying an additional 1,013,762 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in Manhattan Associates during the second quarter worth about $18,288,000. First Trust Advisors LP raised its holdings 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 in the last quarter. BlackRock Inc. raised its holdings 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 in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its holdings 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 in the last quarter.

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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