Manhattan Associates Inc. (NASDAQ:MANH) dropped 2.2% on Wednesday . The company traded as low as $58.60 and last traded at $61.38, with a volume of 3,505,183 shares trading hands. The stock had previously closed at $62.75.

MANH has been the subject of a number of recent analyst reports. Zacks Investment Research raised Manhattan Associates from a “hold” rating to a “strong-buy” rating and set a $76.00 price target for the company in a report on Saturday, April 23rd. Brean Capital reissued a “buy” rating on shares of Manhattan Associates in a research note on Tuesday, April 12th. Raymond James Financial Inc. reissued an “outperform” rating and issued a $74.00 target price (down from $75.00) on shares of Manhattan Associates in a research note on Friday, July 15th. Finally, William Blair cut Manhattan Associates from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Manhattan Associates presently has an average rating of “Hold” and a consensus price target of $73.67.

The company has a 50 day moving average price of $64.69 and a 200 day moving average price of $59.55. The company has a market capitalization of $4.24 billion and a price-to-earnings ratio of 37.48.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, July 19th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.05. The company earned $154.90 million during the quarter, compared to the consensus estimate of $153.75 million. During the same quarter last year, the firm posted $0.37 earnings per share. Equities analysts anticipate that Manhattan Associates Inc. will post $1.79 EPS for the current year.

In other Manhattan Associates news, Director Brian J. Cassidy sold 17,792 shares of the company’s stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $67.00, for a total transaction of $1,192,064.00. Following the completion of the sale, the director now directly owns 53,438 shares in the company, valued at $3,580,346. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

A number of large investors have added to or reduced their stakes in MANH. Navellier & Associates Inc boosted its stake in Manhattan Associates by 0.5% in the fourth quarter. Navellier & Associates Inc now owns 46,743 shares of the company’s stock valued at $3,093,000 after buying an additional 235 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in Manhattan Associates by 1.9% in the fourth quarter. Advisors Asset Management Inc. now owns 36,110 shares of the company’s stock valued at $2,389,000 after buying an additional 688 shares during the last quarter. ProShare Advisors LLC boosted its stake in Manhattan Associates by 35.2% in the fourth quarter. ProShare Advisors LLC now owns 19,603 shares of the company’s stock valued at $1,297,000 after buying an additional 5,106 shares during the last quarter. Bank of Montreal Can boosted its stake in Manhattan Associates by 91.5% in the fourth quarter. Bank of Montreal Can now owns 20,089 shares of the company’s stock valued at $1,329,000 after buying an additional 9,601 shares during the last quarter. Finally, Liberty Mutual Group Asset Management Inc. boosted its stake in Manhattan Associates by 51.3% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 47,331 shares of the company’s stock valued at $3,131,000 after buying an additional 16,056 shares during the last quarter.

Manhattan Associates, Inc (Manhattan) is a developer and provider of supply chain commerce solutions. The Company has three geographical segments: the Americas, Europe, Middle East and Africa (EMEA), and the Asia Pacific (APAC). It is engaged in developing, selling, deploying, servicing and maintaining software solutions designed to manage supply chains, inventory and omni-channel operations for retailers, wholesalers, manufacturers, logistics providers and other organizations.

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