Manhattan Associates (MANH) Stock Rating Upgraded by SunTrust Banks

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Manhattan Associates (NASDAQ:MANH) was upgraded by equities researchers at SunTrust Banks from a “hold” rating to a “buy” rating in a research note issued on Monday, Marketbeat Ratings reports. The firm presently has a $59.02 price target on the software maker’s stock. SunTrust Banks’ price objective would indicate a potential downside of 3.42% from the stock’s current price.

A number of other analysts also recently issued reports on MANH. Zacks Investment Research raised Manhattan Associates from a “hold” rating to a “strong-buy” rating and set a $58.00 price objective on the stock in a research note on Saturday, February 9th. TheStreet downgraded Manhattan Associates from a “b-” rating to a “c” rating in a research note on Thursday, December 27th. BidaskClub raised Manhattan Associates from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 13th. Finally, ValuEngine downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, February 7th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $59.01.

NASDAQ:MANH opened at $61.11 on Monday. Manhattan Associates has a 1 year low of $39.01 and a 1 year high of $62.39. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of 38.68 and a beta of 1.49.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Tuesday, April 23rd. The software maker reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.07. Manhattan Associates had a return on equity of 74.34% and a net margin of 18.72%. The business had revenue of $148.40 million for the quarter, compared to the consensus estimate of $137.55 million. During the same quarter in the previous year, the company posted $0.37 EPS. The company’s revenue was up 13.6% compared to the same quarter last year. On average, sell-side analysts expect that Manhattan Associates will post 1.1 earnings per share for the current year.

In other news, VP Bruce Richards sold 5,454 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $55.21, for a total transaction of $301,115.34. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John J. Huntz, Jr. sold 2,106 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $53.76, for a total value of $113,218.56. Following the transaction, the director now directly owns 70,530 shares in the company, valued at approximately $3,791,692.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,310 shares of company stock worth $562,834. Corporate insiders own 0.68% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ruggie Capital Group bought a new position in Manhattan Associates in the 4th quarter valued at $31,000. Pearl River Capital LLC bought a new position in Manhattan Associates in the 4th quarter valued at $40,000. Captrust Financial Advisors grew its position in Manhattan Associates by 83.0% in the 4th quarter. Captrust Financial Advisors now owns 1,041 shares of the software maker’s stock valued at $44,000 after acquiring an additional 472 shares during the last quarter. Quantamental Technologies LLC bought a new position in Manhattan Associates in the 4th quarter valued at $57,000. Finally, First Hawaiian Bank grew its position in Manhattan Associates by 301.0% in the 4th quarter. First Hawaiian Bank now owns 1,945 shares of the software maker’s stock valued at $82,000 after acquiring an additional 1,460 shares during the last quarter.

Manhattan Associates Company Profile

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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