Shares of Manhattan Associates, Inc. (NASDAQ:MANH) have earned an average recommendation of “Hold” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $60.00.

A number of research analysts have weighed in on MANH shares. Zacks Investment Research raised Manhattan Associates from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a report on Thursday, April 27th. Benchmark Co. downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Friday, April 21st. BidaskClub downgraded Manhattan Associates from a “hold” rating to a “sell” rating in a research note on Friday, June 9th. Finally, SunTrust Banks, Inc. began coverage on Manhattan Associates in a research note on Monday, June 26th. They issued a “hold” rating and a $45.00 price objective on the stock.

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Shares of Manhattan Associates (MANH) traded down 9.02% during midday trading on Friday, reaching $43.15. The company had a trading volume of 3,487,103 shares. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of 24.77 and a beta of 1.18. Manhattan Associates has a 12-month low of $42.50 and a 12-month high of $62.14. The company has a 50 day moving average of $47.11 and a 200 day moving average of $48.71.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Thursday, July 20th. The software maker reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Manhattan Associates had a return on equity of 73.76% and a net margin of 20.89%. The company had revenue of $154.10 million for the quarter, compared to the consensus estimate of $153.80 million. During the same quarter in the prior year, the company earned $0.49 earnings per share. Manhattan Associates’s revenue was down .5% on a year-over-year basis. Analysts anticipate that Manhattan Associates will post $1.90 EPS for the current year.

Manhattan Associates announced that its Board of Directors has initiated a stock repurchase plan on Thursday, April 20th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the software maker to reacquire up to 1.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Hedge funds have recently modified their holdings of the stock. USA Financial Portformulas Corp acquired a new stake in shares of Manhattan Associates during the fourth quarter valued at about $1,105,000. Brown Capital Management LLC increased its stake in shares of Manhattan Associates by 3.9% in the first quarter. Brown Capital Management LLC now owns 6,168,645 shares of the software maker’s stock valued at $321,078,000 after buying an additional 229,639 shares during the period. Hermes Investment Management Ltd. acquired a new stake in shares of Manhattan Associates during the first quarter valued at about $44,041,000. Acrospire Investment Management LLC increased its stake in shares of Manhattan Associates by 20.9% in the first quarter. Acrospire Investment Management LLC now owns 2,177 shares of the software maker’s stock valued at $113,000 after buying an additional 377 shares during the period. Finally, Stifel Financial Corp increased its stake in shares of Manhattan Associates by 14.9% in the first quarter. Stifel Financial Corp now owns 164,900 shares of the software maker’s stock valued at $8,616,000 after buying an additional 21,426 shares during the period.

About Manhattan Associates

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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