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

Manhattan Associates (NASDAQ:MANH) had its price target boosted by SunTrust Banks from $85.00 to $92.00 in a research report sent to investors on Monday, BenzingaRatingsTable reports. They currently have a buy rating on the software maker’s stock.

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

NASDAQ:MANH opened at $82.46 on Monday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $5.46 billion, a P/E ratio of 52.19 and a beta of 1.42. Manhattan Associates has a 12 month low of $39.01 and a 12 month high of $89.53. The stock has a 50-day moving average price of $76.64.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, July 23rd. The software maker reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.17. The company had revenue of $154.30 million for the quarter, compared to the consensus estimate of $146.00 million. Manhattan Associates had a return on equity of 66.00% and a net margin of 16.33%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 earnings per share. Equities research analysts predict that Manhattan Associates will post 1.11 earnings per share for the current year.

In other Manhattan Associates news, Director John J. Huntz, Jr. sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $85.04, for a total transaction of $297,640.00. Following the sale, the director now directly owns 70,170 shares in the company, valued at $5,967,256.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Dennis B. Story sold 10,600 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $85.00, for a total value of $901,000.00. Following the sale, the chief financial officer now owns 124,533 shares in the company, valued at $10,585,305. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,100 shares of company stock worth $4,697,840. Company insiders own 0.68% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Truewealth LLC purchased a new stake in shares of Manhattan Associates in the second quarter worth approximately $25,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Manhattan Associates in the second quarter worth approximately $40,000. CWM LLC raised its holdings in shares of Manhattan Associates by 25.4% in the second quarter. CWM LLC now owns 647 shares of the software maker’s stock worth $45,000 after buying an additional 131 shares during the period. Manchester Capital Management LLC purchased a new stake in shares of Manhattan Associates in the first quarter worth approximately $60,000. Finally, Quantamental Technologies LLC raised its holdings in shares of Manhattan Associates by 23.7% in the first quarter. Quantamental Technologies LLC now owns 1,677 shares of the software maker’s stock worth $92,000 after buying an additional 321 shares during the period.

Manhattan Associates Company Profile

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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