SunTrust Banks Boosts Manhattan Associates (NASDAQ:MANH) Price Target to $92.00

Manhattan Associates (NASDAQ:MANH) had its price target raised by SunTrust Banks from $85.00 to $92.00 in a report published on Monday morning, BenzingaRatingsTable reports. SunTrust Banks currently has a buy rating on the software maker’s stock.

A number of other brokerages have also commented on MANH. BidaskClub raised Manhattan Associates from a buy rating to a strong-buy rating in a report on Tuesday, July 16th. Benchmark reissued a buy rating and set a $90.00 price target (up from $75.00) on shares of Manhattan Associates in a report on Wednesday, July 24th. Zacks Investment Research raised Manhattan Associates from a hold rating to a strong-buy rating and set a $100.00 price target on the stock in a report on Thursday, August 1st. Finally, ValuEngine lowered Manhattan Associates from a strong-buy rating to a buy rating in a report on Thursday, August 1st. Four research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $95.50.

Shares of MANH opened at $82.54 on Monday. The firm has a market capitalization of $5.42 billion, a price-to-earnings ratio of 57.31 and a beta of 1.42. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.42 and a current ratio of 1.42. Manhattan Associates has a one year low of $39.01 and a one year high of $89.53. The stock’s fifty day moving average is $76.94 and its 200-day moving average is $64.23.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, July 23rd. The software maker reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.17. The company had revenue of $154.30 million for the quarter, compared to analyst estimates of $146.00 million. Manhattan Associates had a return on equity of 66.00% and a net margin of 16.33%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company earned $0.47 earnings per share. Analysts forecast that Manhattan Associates will post 1.11 EPS for the current fiscal year.

In related news, CFO Dennis B. Story sold 10,600 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $85.00, for a total transaction of $901,000.00. Following the completion of the transaction, the chief financial officer now owns 124,533 shares of the company’s stock, valued at $10,585,305. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eddie Capel sold 40,000 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $87.48, for a total value of $3,499,200.00. Following the transaction, the chief executive officer now directly owns 261,357 shares of the company’s stock, valued at approximately $22,863,510.36. The disclosure for this sale can be found here. Insiders have sold 54,100 shares of company stock valued at $4,697,840 in the last ninety days. Company insiders own 0.68% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Raymond James & Associates boosted its stake in Manhattan Associates by 10.8% during the first quarter. Raymond James & Associates now owns 77,005 shares of the software maker’s stock valued at $4,244,000 after buying an additional 7,526 shares in the last quarter. Texas Permanent School Fund boosted its position in shares of Manhattan Associates by 3.2% in the 1st quarter. Texas Permanent School Fund now owns 44,146 shares of the software maker’s stock valued at $2,433,000 after purchasing an additional 1,363 shares during the period. WCM Investment Management LLC boosted its position in shares of Manhattan Associates by 65.8% in the 1st quarter. WCM Investment Management LLC now owns 373,952 shares of the software maker’s stock valued at $20,608,000 after purchasing an additional 148,354 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of Manhattan Associates by 23.4% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 228,934 shares of the software maker’s stock valued at $12,617,000 after purchasing an additional 43,475 shares during the period. Finally, West Coast Financial LLC boosted its position in shares of Manhattan Associates by 6.5% in the 1st quarter. West Coast Financial LLC now owns 75,901 shares of the software maker’s stock valued at $4,183,000 after purchasing an additional 4,642 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 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.

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