Manhattan Associates Inc. (NASDAQ:MANH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Manhattan Associates is a leading provider of technology-based solutions to improve supply chain effectiveness and efficiencies. The company’s solutions enhance distribution efficiencies through the integration of supply chain constituents, including manufacturers, distributors, retailers, suppliers, transportation providers and end consumers. Their solutions consist of software; services, including design, configuration, implementation, and training services, plus customer support and software upgrades; and hardware. “

A number of other research analysts also recently commented on MANH. Brean Capital reaffirmed a “buy” rating and issued a $75.00 target price on shares of Manhattan Associates in a research report on Saturday, June 25th. Raymond James Financial Inc. reaffirmed an “outperform” rating and issued a $74.00 target price (down from $75.00) on shares of Manhattan Associates in a research report on Friday, July 15th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $72.17.

Analyst Recommendations for Manhattan Associates (NASDAQ:MANH)

Manhattan Associates (NASDAQ:MANH) opened at 58.00 on Wednesday. Manhattan Associates has a 12 month low of $44.14 and a 12 month high of $77.75. The firm has a market cap of $4.15 billion, a P/E ratio of 36.71 and a beta of 1.30. The firm has a 50 day moving average of $59.55 and a 200-day moving average of $60.79.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, July 19th. The company reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.05. Manhattan Associates had a net margin of 19.56% and a return on equity of 62.72%. The company had revenue of $154.90 million for the quarter, compared to the consensus estimate of $153.75 million. During the same period in the prior year, the firm posted $0.37 EPS. On average, equities research analysts forecast that Manhattan Associates will post $1.79 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in Manhattan Associates during the fourth quarter worth approximately $48,965,000. Boston Advisors LLC increased its position in Manhattan Associates by 43.4% in the first quarter. Boston Advisors LLC now owns 17,211 shares of the company’s stock worth $979,000 after buying an additional 5,205 shares during the period. Moody Aldrich Partners LLC bought a new position in Manhattan Associates during the first quarter worth approximately $502,000. Apex Capital Management increased its position in Manhattan Associates by 7.3% in the first quarter. Apex Capital Management now owns 961,138 shares of the company’s stock worth $54,660,000 after buying an additional 65,153 shares during the period. Finally, Virginia Retirement System bought a new position in Manhattan Associates during the first quarter worth approximately $1,570,000. 97.82% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Company Profile

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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