Manhattan Associates, Inc. (NASDAQ:MANH) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Tuesday.

A number of other equities analysts also recently weighed in on MANH. Zacks Investment Research upgraded shares of Manhattan Associates from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a report on Thursday, June 15th. SunTrust Banks, Inc. assumed coverage on shares of Manhattan Associates in a research report on Monday, June 26th. They set a “hold” rating and a $45.00 price objective for the company. Finally, Benchmark Co. cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Friday, April 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Manhattan Associates currently has an average rating of “Hold” and an average price target of $59.50.

Manhattan Associates (NASDAQ:MANH) traded up 0.263% during mid-day trading on Tuesday, hitting $43.895. 217,694 shares of the company traded hands. The company’s 50-day moving average is $46.73 and its 200-day moving average is $48.40. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of 25.358 and a beta of 1.18. Manhattan Associates has a one year low of $43.61 and a one year high of $62.14.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Thursday, July 20th. The software maker reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.02. The business had revenue of $154.10 million for the quarter, compared to the consensus estimate of $153.80 million. Manhattan Associates had a net margin of 20.55% and a return on equity of 75.58%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 earnings per share. Analysts predict that Manhattan Associates will post $1.87 EPS for the current year.

Manhattan Associates announced that its Board of Directors has initiated a share buyback plan on Thursday, April 20th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the software maker to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

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Several large investors have recently made changes to their positions in MANH. USA Financial Portformulas Corp acquired a new stake in shares of Manhattan Associates during the fourth quarter worth about $1,105,000. Pennsylvania Trust Co acquired a new stake in shares of Manhattan Associates during the first quarter worth about $220,000. Capstone Asset Management Co. boosted its stake in shares of Manhattan Associates by 19.3% in the first quarter. Capstone Asset Management Co. now owns 7,280 shares of the software maker’s stock worth $379,000 after buying an additional 1,180 shares during the last quarter. Atria Investments LLC boosted its stake in shares of Manhattan Associates by 16.9% in the first quarter. Atria Investments LLC now owns 5,650 shares of the software maker’s stock worth $294,000 after buying an additional 818 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Manhattan Associates by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 17,800 shares of the software maker’s stock worth $926,000 after buying an additional 200 shares during the last quarter.

About Manhattan Associates

Manhattan Associates, Inc (Manhattan) is a developer and provider of supply chain commerce solutions. The Company operates through 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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