Manhattan Associates (NASDAQ:MANH) Downgraded by StockNews.com to “Hold”

Manhattan Associates (NASDAQ:MANH – Get Rating) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

A number of other research analysts also recently commented on the stock. Rosenblatt Securities decreased their price objective on shares of Manhattan Associates from $165.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, July 22nd. Raymond James reaffirmed a “maintains” rating on shares of Manhattan Associates in a report on Wednesday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $181.00.

Manhattan Associates Price Performance

Shares of MANH opened at $140.67 on Thursday. The firm has a 50-day moving average of $118.67 and a 200-day moving average of $127.27. Manhattan Associates has a one year low of $106.02 and a one year high of $188.52. The company has a market cap of $8.88 billion, a PE ratio of 75.17 and a beta of 1.83.

Manhattan Associates (NASDAQ:MANH – Get Rating) last announced its quarterly earnings data on Tuesday, July 26th. The software maker reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.16. Manhattan Associates had a net margin of 17.27% and a return on equity of 51.60%. During the same period in the prior year, the firm posted $0.48 earnings per share. Analysts expect that Manhattan Associates will post 1.45 earnings per share for the current year.

Institutional Trading of Manhattan Associates

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. boosted its holdings in shares of Manhattan Associates by 13.5% during the 1st quarter. Invesco Ltd. now owns 3,902,037 shares of the software maker’s stock worth $541,252,000 after buying an additional 465,063 shares during the period. Alliancebernstein L.P. raised its stake in Manhattan Associates by 5.0% in the 4th quarter. Alliancebernstein L.P. now owns 2,223,608 shares of the software maker’s stock worth $345,749,000 after purchasing an additional 106,752 shares in the last quarter. State Street Corp raised its stake in Manhattan Associates by 1.9% in the 1st quarter. State Street Corp now owns 1,688,153 shares of the software maker’s stock worth $234,164,000 after purchasing an additional 31,337 shares in the last quarter. American Century Companies Inc. raised its stake in Manhattan Associates by 7.1% in the 1st quarter. American Century Companies Inc. now owns 1,426,576 shares of the software maker’s stock worth $197,880,000 after purchasing an additional 94,313 shares in the last quarter. Finally, RGM Capital LLC raised its stake in Manhattan Associates by 22.5% in the 1st quarter. RGM Capital LLC now owns 906,748 shares of the software maker’s stock worth $125,775,000 after purchasing an additional 166,597 shares in the last quarter. Institutional investors own 96.76% of the company’s stock.

Manhattan Associates Company Profile

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Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It 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.