Manhattan Associates (NASDAQ:MANH) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Saturday. The brokerage presently has a $58.00 target price on the software maker’s stock. Zacks Investment Research‘s target price points to a potential upside of 13.02% from the company’s previous close.

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. “

Several other equities research analysts have also commented on the stock. ValuEngine lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday. BidaskClub upgraded shares of Manhattan Associates from a “hold” rating to a “buy” rating in a research report on Tuesday, January 29th. TheStreet lowered shares of Manhattan Associates from a “b-” rating to a “c” rating in a research report on Thursday, December 27th. Benchmark decreased their target price on shares of Manhattan Associates to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, October 24th. Finally, SunTrust Banks decreased their target price on shares of Manhattan Associates to $50.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 24th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Manhattan Associates presently has an average rating of “Buy” and an average price target of $56.00.

Shares of NASDAQ MANH opened at $51.32 on Friday. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 32.48 and a beta of 1.50. Manhattan Associates has a one year low of $39.01 and a one year high of $62.39.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, February 5th. The software maker reported $0.46 EPS for the quarter, topping the consensus estimate of $0.37 by $0.09. The company had revenue of $144.37 million for the quarter, compared to analyst estimates of $139.19 million. Manhattan Associates had a net margin of 18.72% and a return on equity of 74.34%. The business’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.45 EPS. As a group, sell-side analysts predict that Manhattan Associates will post 1.1 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of MANH. Oregon Public Employees Retirement Fund boosted its position in shares of Manhattan Associates by 4,137.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,120,220 shares of the software maker’s stock worth $26,000 after buying an additional 1,093,781 shares in the last quarter. Ruggie Capital Group purchased a new stake in shares of Manhattan Associates in the 4th quarter worth about $31,000. Pearl River Capital LLC purchased a new stake in shares of Manhattan Associates in the 4th quarter worth about $40,000. Quantamental Technologies LLC purchased a new stake in shares of Manhattan Associates in the 4th quarter worth about $57,000. Finally, First Hawaiian Bank boosted its position in shares of Manhattan Associates by 301.0% in the 4th quarter. First Hawaiian Bank now owns 1,945 shares of the software maker’s stock worth $82,000 after buying an additional 1,460 shares in the last quarter.

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 provides supply chain solutions, including distribution management, transportation management, and visibility solutions; omni-channel solutions; and inventory optimization and planning solutions.

Featured Article: Futures Contract

Get a free copy of the Zacks research report on Manhattan Associates (MANH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Manhattan Associates Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manhattan Associates and related companies with MarketBeat.com's FREE daily email newsletter.