Manhattan Associates (MANH) Lowered to “Hold” at BidaskClub

BidaskClub cut shares of Manhattan Associates (NASDAQ:MANH) from a buy rating to a hold rating in a report issued on Thursday morning.

A number of other analysts have also recently issued reports on MANH. TheStreet cut Manhattan Associates from a b- rating to a c+ rating in a research report on Tuesday, February 20th. ValuEngine cut Manhattan Associates from a hold rating to a sell rating in a research report on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $55.00.

Shares of MANH traded up $0.25 during mid-day trading on Thursday, reaching $43.80. The company’s stock had a trading volume of 177,169 shares, compared to its average volume of 702,714. Manhattan Associates has a 1-year low of $43.90 and a 1-year high of $44.51. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 25.47 and a beta of 1.25.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Tuesday, April 24th. The software maker reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.06. Manhattan Associates had a return on equity of 68.51% and a net margin of 19.07%. The company had revenue of $130.60 million during the quarter, compared to analysts’ expectations of $129.92 million. During the same period last year, the firm posted $0.42 earnings per share. The business’s revenue was down 9.0% on a year-over-year basis. analysts forecast that Manhattan Associates will post 1.27 earnings per share for the current year.

Manhattan Associates announced that its board has initiated a share buyback plan on Tuesday, February 6th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the software maker to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

In other news, CFO Dennis B. Story sold 16,280 shares of the firm’s stock in a transaction that occurred on Friday, May 4th. The stock was sold at an average price of $43.13, for a total value of $702,156.40. Following the completion of the sale, the chief financial officer now directly owns 63,060 shares of the company’s stock, valued at $2,719,777.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John J. Huntz, Jr. sold 3,592 shares of the stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $45.52, for a total value of $163,507.84. Following the transaction, the director now owns 70,799 shares in the company, valued at approximately $3,222,770.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,472 shares of company stock valued at $1,118,056. Insiders own 0.99% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in MANH. BB&T Investment Services Inc. increased its stake in shares of Manhattan Associates by 128.5% during the fourth quarter. BB&T Investment Services Inc. now owns 2,098 shares of the software maker’s stock worth $106,000 after purchasing an additional 1,180 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Manhattan Associates by 45.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,719 shares of the software maker’s stock worth $184,000 after purchasing an additional 1,165 shares during the period. Advisory Services Network LLC increased its stake in shares of Manhattan Associates by 2,191.1% during the fourth quarter. Advisory Services Network LLC now owns 4,651 shares of the software maker’s stock worth $230,000 after purchasing an additional 4,448 shares during the period. State of Alaska Department of Revenue bought a new position in shares of Manhattan Associates during the fourth quarter worth approximately $247,000. Finally, Ffcm LLC increased its stake in shares of Manhattan Associates by 3,372.8% during the first quarter. Ffcm LLC now owns 6,251 shares of the software maker’s stock worth $262,000 after purchasing an additional 6,071 shares during the period.

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.

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