Analysts Set Manhattan Associates, Inc. (NASDAQ:MANH) PT at $290.78

Shares of Manhattan Associates, Inc. (NASDAQ:MANH) have been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $290.78.

Several research analysts recently weighed in on the stock. Raymond James boosted their target price on shares of Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Piper Sandler began coverage on shares of Manhattan Associates in a research note on Monday, November 25th. They set an “overweight” rating and a $326.00 price objective on the stock. Loop Capital lifted their price objective on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, September 16th. DA Davidson lifted their price target on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Robert W. Baird raised their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, SVP Bruce Richards sold 4,150 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the sale, the senior vice president now owns 22,086 shares in the company, valued at $6,398,976.78. This represents a 15.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total value of $1,001,147.50. Following the completion of the transaction, the executive vice president now owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. The trade was a 7.51 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Institutional Trading of Manhattan Associates

Several institutional investors have recently added to or reduced their stakes in the business. Innealta Capital LLC acquired a new stake in Manhattan Associates during the second quarter worth about $26,000. International Assets Investment Management LLC acquired a new stake in Manhattan Associates in the second quarter worth $27,000. Capital Performance Advisors LLP bought a new stake in Manhattan Associates in the third quarter valued at $34,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Manhattan Associates during the second quarter valued at $31,000. Finally, DT Investment Partners LLC bought a new position in shares of Manhattan Associates during the second quarter worth about $31,000. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Down 3.7 %

NASDAQ:MANH opened at $298.17 on Friday. Manhattan Associates has a 52-week low of $199.23 and a 52-week high of $312.60. The stock has a fifty day simple moving average of $286.25 and a 200-day simple moving average of $262.54. The company has a market capitalization of $18.21 billion, a PE ratio of 84.71 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, beating the consensus estimate of $1.06 by $0.29. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The business had revenue of $266.70 million for the quarter, compared to analyst estimates of $262.90 million. During the same period in the prior year, the business earned $0.79 earnings per share. The company’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, equities analysts anticipate that Manhattan Associates will post 3.39 earnings per share for the current year.

About Manhattan Associates

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Warehouse Management Solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and Transportation Management Solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, POS, and customer engagement tools for enterprises and stores.