Analysts Set Manhattan Associates (MANH) Price Target at $55.00

Shares of Manhattan Associates (NASDAQ:MANH) have earned a consensus rating of “Hold” from the seven analysts that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $55.00.

Several research firms have recently commented on MANH. BidaskClub downgraded shares of Manhattan Associates from a “hold” rating to a “sell” rating in a research report on Wednesday, March 28th. TheStreet downgraded shares of Manhattan Associates from a “b-” rating to a “c+” rating in a research report on Tuesday, February 20th. ValuEngine downgraded shares of Manhattan Associates from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Finally, Zacks Investment Research downgraded shares of Manhattan Associates from a “hold” rating to a “sell” rating in a research report on Tuesday, December 26th.

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In other Manhattan Associates news, VP Bruce Richards sold 5,600 shares of the company’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $45.07, for a total value of $252,392.00. Following the completion of the sale, the vice president now directly owns 28,560 shares of the company’s stock, valued at approximately $1,287,199.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John J. Huntz, Jr. sold 3,592 shares of the stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $45.52, for a total transaction of $163,507.84. Following the transaction, the director now directly owns 70,799 shares of the company’s stock, valued at $3,222,770.48. The disclosure for this sale can be found here. Corporate insiders own 0.99% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB bought a new position in shares of Manhattan Associates during the 4th quarter valued at approximately $351,000. Envestnet Asset Management Inc. grew its position in shares of Manhattan Associates by 18.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 38,657 shares of the software maker’s stock valued at $1,915,000 after acquiring an additional 5,918 shares during the period. Disciplined Growth Investors Inc. MN grew its position in shares of Manhattan Associates by 0.4% during the 4th quarter. Disciplined Growth Investors Inc. MN now owns 929,146 shares of the software maker’s stock valued at $46,030,000 after acquiring an additional 4,046 shares during the period. BB&T Investment Services Inc. grew its position in shares of Manhattan Associates by 128.5% during the 4th quarter. BB&T Investment Services Inc. now owns 2,098 shares of the software maker’s stock valued at $106,000 after acquiring an additional 1,180 shares during the period. Finally, MetLife Investment Advisors LLC bought a new position in shares of Manhattan Associates during the 4th quarter valued at approximately $2,160,000.

NASDAQ:MANH opened at $41.47 on Friday. The stock has a market cap of $2,771.00, a PE ratio of 23.70 and a beta of 1.23. Manhattan Associates has a one year low of $39.10 and a one year high of $54.21.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, February 6th. The software maker reported $0.45 EPS for the quarter, hitting the consensus estimate of $0.45. The company had revenue of $144.09 million during the quarter, compared to the consensus estimate of $144.86 million. Manhattan Associates had a net margin of 19.59% and a return on equity of 72.02%. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.46 earnings per share. research analysts anticipate that Manhattan Associates will post 1.29 EPS for the current year.

Manhattan Associates announced that its Board of Directors has initiated a share buyback program on Tuesday, February 6th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the software maker to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

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

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