Manhattan Associates (NASDAQ:MANH) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Wednesday, January 15th, BidAskClub reports.
A number of other analysts have also recently issued reports on MANH. Rosenblatt Securities reissued a “buy” rating and set a $100.00 price objective on shares of Manhattan Associates in a report on Friday, November 8th. ValuEngine lowered Manhattan Associates from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Zacks Investment Research cut Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Wednesday, December 25th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $92.00.
MANH stock traded up $0.50 during midday trading on Wednesday, reaching $87.07. 520,105 shares of the company’s stock traded hands, compared to its average volume of 316,676. The firm has a market capitalization of $5.49 billion, a PE ratio of 59.64 and a beta of 1.47. Manhattan Associates has a 52 week low of $47.60 and a 52 week high of $89.53. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.32 and a current ratio of 1.32. The company has a 50-day moving average price of $81.83 and a two-hundred day moving average price of $80.98.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Manhattan Associates by 2.2% in the second quarter. BlackRock Inc. now owns 6,325,561 shares of the software maker’s stock worth $438,551,000 after buying an additional 137,409 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in Manhattan Associates by 4.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,282,579 shares of the software maker’s stock worth $88,922,000 after acquiring an additional 57,569 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Manhattan Associates by 395.8% in the 2nd quarter. Invesco Ltd. now owns 1,269,860 shares of the software maker’s stock valued at $88,039,000 after acquiring an additional 1,013,762 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Manhattan Associates by 3.2% in the 2nd quarter. AQR Capital Management LLC now owns 1,124,425 shares of the software maker’s stock valued at $77,259,000 after acquiring an additional 34,388 shares in the last quarter. Finally, M&G Investment Management Ltd. bought a new stake in shares of Manhattan Associates during the 4th quarter valued at about $39,851,000.
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.
Further Reading: What does the Dogs of the Dow mean?
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.
