Manhattan Associates (NASDAQ:MANH) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Manhattan Associates (NASDAQ:MANH) from a hold rating to a buy rating in a research note published on Friday morning.

Several other equities analysts have also recently weighed in on MANH. Truist Financial lifted their price objective on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. DA Davidson boosted their price target on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Loop Capital boosted their price target on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a report on Monday, September 16th. Raymond James boosted their price target on shares of Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, Robert W. Baird boosted their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Manhattan Associates has an average rating of “Moderate Buy” and a consensus price target of $292.89.

Manhattan Associates Stock Performance

NASDAQ MANH opened at $272.84 on Friday. Manhattan Associates has a twelve month low of $199.23 and a twelve month high of $312.60. The stock has a market cap of $16.66 billion, a price-to-earnings ratio of 77.51 and a beta of 1.52. The firm’s 50 day moving average price is $282.61 and its two-hundred day moving average price is $267.90.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, topping 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 firm had revenue of $266.70 million for the quarter, compared to analysts’ expectations of $262.90 million. During the same period in the previous year, the company posted $0.79 EPS. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, research analysts forecast that Manhattan Associates will post 3.39 EPS for the current fiscal year.

Insider Activity at Manhattan Associates

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp lifted its position in Manhattan Associates by 0.6% during the 3rd quarter. State Street Corp now owns 2,203,139 shares of the software maker’s stock worth $619,918,000 after acquiring an additional 12,787 shares during the last quarter. FMR LLC lifted its position in Manhattan Associates by 7.3% during the 3rd quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock worth $539,521,000 after acquiring an additional 130,817 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Manhattan Associates by 5.8% during the third quarter. Geode Capital Management LLC now owns 1,514,941 shares of the software maker’s stock valued at $426,308,000 after buying an additional 82,995 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Manhattan Associates by 213.7% during the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock valued at $284,169,000 after buying an additional 687,933 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Manhattan Associates during the third quarter valued at about $234,249,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

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.