Zacks Investment Research downgraded shares of Manhattan Associates (NASDAQ:MANH) from a buy rating to a hold rating in a research note issued to investors on Friday morning, 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. “

Several other analysts have also weighed in on the company. Rosenblatt Securities began coverage on Manhattan Associates in a report on Thursday, August 15th. They set a buy rating and a $100.00 price objective on the stock. SunTrust Banks lifted their price objective on Manhattan Associates from $85.00 to $92.00 and gave the stock a buy rating in a report on Monday, August 12th. ValuEngine lowered Manhattan Associates from a buy rating to a hold rating in a report on Wednesday, October 2nd. BidaskClub lowered Manhattan Associates from a strong-buy rating to a buy rating in a report on Thursday, October 17th. Finally, Benchmark reissued a buy rating and set a $90.00 price objective (up previously from $75.00) on shares of Manhattan Associates in a report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Manhattan Associates presently has an average rating of Buy and a consensus price target of $94.00.

MANH opened at $76.50 on Friday. The firm has a market capitalization of $5.24 billion, a P/E ratio of 48.42 and a beta of 1.51. The stock’s 50 day moving average price is $82.20 and its two-hundred day moving average price is $73.56. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.23. Manhattan Associates has a 12-month low of $39.01 and a 12-month high of $89.53.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, July 23rd. The software maker reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.17. Manhattan Associates had a return on equity of 66.00% and a net margin of 16.33%. The company had revenue of $154.30 million for the quarter, compared to analyst estimates of $146.00 million. During the same quarter last year, the firm earned $0.47 EPS. Manhattan Associates’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, analysts anticipate that Manhattan Associates will post 1.11 earnings per share for the current year.

In related news, CFO Dennis B. Story sold 10,600 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $85.00, for a total value of $901,000.00. Following the sale, the chief financial officer now owns 124,533 shares of the company’s stock, valued at approximately $10,585,305. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John J. Huntz, Jr. sold 3,500 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $85.04, for a total value of $297,640.00. Following the completion of the sale, the director now directly owns 70,170 shares in the company, valued at approximately $5,967,256.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,100 shares of company stock worth $4,697,840. 0.68% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Manhattan Associates by 5.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,913 shares of the software maker’s stock valued at $316,000 after purchasing an additional 200 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Manhattan Associates in the 3rd quarter valued at $241,000. Fox Run Management L.L.C. bought a new position in Manhattan Associates in the 3rd quarter valued at $240,000. State of Alaska Department of Revenue raised its position in Manhattan Associates by 51.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 11,443 shares of the software maker’s stock valued at $923,000 after purchasing an additional 3,882 shares during the last quarter. Finally, Macquarie Group Ltd. bought a new position in Manhattan Associates in the 2nd quarter valued at $1,760,000.

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.

Read More: Elliott Wave Theory

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.