Manhattan Associates, Inc. (MANH) Lowered to Sell at Zacks Investment Research

Manhattan Associates, Inc. (NASDAQ:MANH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday, October 5th.

According to Zacks, “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. Its solutions consist of software, services and hardware, which coordinate people, workflows, assets, events and tasks across the functions linked in a supply chain from planning through execution. Its supply chain solutions consist of three components: Distribution Management, Transportation Management and Visibility. Its Omni-Channel Solutions include Omni-Channel Central Solutions and Omni-Channel Local Solutions. Its Inventory solutions include Inventory Optimization and Planning. “

Several other research analysts have also weighed in on the company. SunTrust Banks, Inc. raised Manhattan Associates from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Tuesday, October 3rd. They noted that the move was a valuation call. BidaskClub raised Manhattan Associates from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $65.00.

Shares of Manhattan Associates (NASDAQ:MANH) opened at 46.80 on Thursday. Manhattan Associates has a 52-week low of $40.83 and a 52-week high of $59.60. The firm has a 50-day moving average price of $43.57 and a 200-day moving average price of $45.67. The stock has a market cap of $3.23 billion, a P/E ratio of 27.04 and a beta of 1.12.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Thursday, July 20th. The software maker reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Manhattan Associates had a return on equity of 75.58% and a net margin of 20.55%. The company had revenue of $154.10 million for the quarter, compared to analyst estimates of $153.80 million. During the same quarter in the prior year, the company posted $0.49 EPS. The business’s revenue for the quarter was down .5% compared to the same quarter last year. On average, analysts anticipate that Manhattan Associates will post $1.87 EPS for the current fiscal year.

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Several institutional investors and hedge funds have recently modified their holdings of the stock. Koch Industries Inc. raised its position in shares of Manhattan Associates by 5,389.1% in the 2nd quarter. Koch Industries Inc. now owns 729,227 shares of the software maker’s stock worth $714,000 after buying an additional 715,942 shares during the period. Sterling Capital Management LLC purchased a new position in shares of Manhattan Associates in the 2nd quarter worth $1,765,000. Nomura Holdings Inc. increased its holdings in Manhattan Associates by 115.3% in the 2nd quarter. Nomura Holdings Inc. now owns 15,350 shares of the software maker’s stock valued at $738,000 after purchasing an additional 8,219 shares in the last quarter. Atlanta Capital Management Co. L L C increased its holdings in Manhattan Associates by 1.3% in the 2nd quarter. Atlanta Capital Management Co. L L C now owns 7,690,407 shares of the software maker’s stock valued at $369,601,000 after purchasing an additional 98,471 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Manhattan Associates by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 102,222 shares of the software maker’s stock valued at $4,914,000 after purchasing an additional 454 shares in the last quarter.

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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