Benchmark Maintains Hold on Manhattan Associates

Benchmark reiterates its Hold rating on Manhattan Associates MANH as the company is set to report on 4Q11 after market close tonight. Benchmark says, "We expect the Company to deliver total revenue and license revenue relatively in line with our estimates of $85 million and $16 million, respectively. We believe MANH can meet or exceed our $0.49 adjusted EPS estimate on cost controls and currency benefits. While the Company does not provide quarterly guidance, management's annual outlook is $325-$335 million and $2.23-$2.27." MANH closed at $43.63 yesterday.