SunTrust Banks, Inc. upgraded shares of Manhattan Associates, Inc. (NASDAQ:MANH) from a hold rating to a buy rating in a research note released on Tuesday. The brokerage currently has $55.00 price objective on the software maker’s stock. SunTrust Banks also issued estimates for Manhattan Associates’ Q2 2018 earnings at $0.46 EPS, Q3 2018 earnings at $0.50 EPS and FY2019 earnings at $1.86 EPS. The analysts noted that the move was a valuation call.

Several other equities research analysts also recently issued reports on MANH. Zacks Investment Research downgraded shares of Manhattan Associates from a buy rating to a hold rating in a research report on Wednesday, June 21st. BidaskClub upgraded shares of Manhattan Associates from a sell rating to a hold rating in a report on Friday, June 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $62.00.

Shares of Manhattan Associates (NASDAQ:MANH) traded down 4.05% during mid-day trading on Tuesday, hitting $45.29. The company had a trading volume of 418,876 shares. The company has a market capitalization of $3.12 billion, a P/E ratio of 26.16 and a beta of 1.12. The firm’s 50-day moving average price is $42.66 and its 200 day moving average price is $45.91. Manhattan Associates has a one year low of $40.83 and a one year high of $59.60.

Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Thursday, July 20th. The software maker reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. The firm had revenue of $154.10 million for the quarter, compared to the consensus estimate of $153.80 million. Manhattan Associates had a net margin of 20.55% and a return on equity of 75.58%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the company posted $0.49 EPS. Analysts predict that Manhattan Associates will post $1.87 earnings per share for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its stake in Manhattan Associates by 22.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,774,595 shares of the software maker’s stock valued at $85,288,000 after acquiring an additional 327,370 shares in the last quarter. Royce & Associates LP acquired a new position in Manhattan Associates during the 2nd quarter worth approximately $721,000. BlackRock Inc. boosted its position in Manhattan Associates by 14,241.7% during the 1st quarter. BlackRock Inc. now owns 5,768,519 shares of the software maker’s stock worth $300,250,000 after acquiring an additional 5,728,297 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Manhattan Associates by 93.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 30,057 shares of the software maker’s stock worth $1,445,000 after acquiring an additional 14,482 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its position in Manhattan Associates by 219.8% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,868,470 shares of the software maker’s stock worth $89,799,000 after acquiring an additional 1,284,125 shares during 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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