Manhattan Associates (NASDAQ:MANH) Cut to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Manhattan Associates (NASDAQ:MANH) from a buy rating to a hold rating in a report published on Friday, Zacks.com reports.

According to Zacks, “Manhattan Associates, Inc., is the global leader in providing supply chain execution and optimization solutions. It enables operational excellence through its warehouse, transportation, distributed order management, reverse logistics and trading partner management solutions, as well as its RFID, performance management and event management capabilities. These Integrated Logistics Solutions(TM) leverage state-of-the-art technologies, innovative practices and domain expertise to enhance performance, profitability and competitive advantage. Manhattan Associates has licensed more than 900 customers representing more than 1,600 facilities worldwide, which include some of the world’s leading manufacturers, distributors and retailers. “

Other analysts have also issued reports about the company. BidaskClub raised Manhattan Associates from a buy rating to a strong-buy rating in a report on Friday, May 1st. SunTrust Banks raised their price objective on Manhattan Associates from $80.00 to $98.00 and gave the company a buy rating in a report on Thursday, May 28th. Cfra lowered Manhattan Associates from a hold rating to a sell rating in a report on Tuesday, May 5th. TheStreet lowered Manhattan Associates from a b- rating to a c rating in a research note on Friday, February 28th. Finally, William Blair reaffirmed a market perform rating on shares of Manhattan Associates in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Buy and a consensus price target of $84.20.

Shares of MANH opened at $94.31 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.24. Manhattan Associates has a 12 month low of $35.20 and a 12 month high of $95.02. The stock’s 50 day moving average is $69.79 and its two-hundred day moving average is $72.66. The firm has a market cap of $5.61 billion, a P/E ratio of 68.53 and a beta of 2.00.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, April 21st. The software maker reported $0.40 EPS for the quarter, beating the consensus estimate of $0.33 by $0.07. Manhattan Associates had a return on equity of 58.45% and a net margin of 14.01%. The company had revenue of $153.90 million for the quarter, compared to analyst estimates of $152.55 million. During the same period last year, the company earned $0.41 earnings per share. Manhattan Associates’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities research analysts forecast that Manhattan Associates will post 1.2 EPS for the current year.

In other news, VP Bruce Richards sold 5,000 shares of Manhattan Associates stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $71.18, for a total value of $355,900.00. Following the sale, the vice president now directly owns 39,103 shares of the company’s stock, valued at $2,783,351.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Robert G. Howell sold 31,000 shares of Manhattan Associates stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $90.02, for a total value of $2,790,620.00. Following the completion of the sale, the senior vice president now directly owns 128,925 shares in the company, valued at $11,605,828.50. The disclosure for this sale can be found here. Insiders sold 42,500 shares of company stock worth $3,728,695 over the last ninety days. Corporate insiders own 0.74% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Great Diamond Partners LLC acquired a new position in Manhattan Associates during the fourth quarter worth $30,000. Chevy Chase Trust Holdings Inc. acquired a new position in Manhattan Associates during the fourth quarter worth $41,000. Sterling Investment Advisors Ltd. acquired a new position in Manhattan Associates during the fourth quarter worth $79,000. Contravisory Investment Management Inc. acquired a new position in Manhattan Associates during the first quarter worth $84,000. Finally, Pearl River Capital LLC acquired a new position in Manhattan Associates during the first quarter worth $98,000.

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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