StockNews.com Downgrades Manhattan Associates (NASDAQ:MANH) to Hold

Manhattan Associates (NASDAQ:MANH) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

MANH has been the topic of a number of other reports. Raymond James boosted their price objective on shares of Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Truist Financial boosted their price target on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Robert W. Baird increased their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. DA Davidson lifted their price objective on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Piper Sandler started coverage on Manhattan Associates in a research report on Monday, November 25th. They issued an “overweight” rating and a $326.00 target price for the company. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $292.89.

Manhattan Associates Trading Up 2.1 %

Shares of NASDAQ:MANH opened at $271.00 on Monday. The company has a market cap of $16.55 billion, a price-to-earnings ratio of 76.99 and a beta of 1.52. Manhattan Associates has a 12 month low of $205.12 and a 12 month high of $312.60. The company has a 50-day moving average price of $282.66 and a 200-day moving average price of $269.51.

Manhattan Associates (NASDAQ:MANH) last released 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. The business had revenue of $266.70 million during the quarter, compared to analysts’ expectations of $262.90 million. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The business’s revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the business posted $0.79 EPS. As a group, research analysts forecast that Manhattan Associates will post 3.39 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP Bruce Richards sold 4,150 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $289.73, for a total value of $1,202,379.50. Following the transaction, the senior vice president now owns 22,086 shares in the company, valued at approximately $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 accessible through this link. Also, EVP James Stewart Gantt sold 3,475 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the sale, the executive vice president now owns 42,812 shares in the company, 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. 0.72% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Manhattan Associates

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC purchased a new position in shares of Manhattan Associates in the second quarter worth $31,000. Choreo LLC increased its holdings in Manhattan Associates by 35.8% in the 2nd quarter. Choreo LLC now owns 1,935 shares of the software maker’s stock worth $475,000 after buying an additional 510 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in Manhattan Associates by 29.5% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 21,121 shares of the software maker’s stock worth $5,297,000 after buying an additional 4,813 shares during the last quarter. Meeder Advisory Services Inc. lifted its stake in Manhattan Associates by 27.1% during the 2nd quarter. Meeder Advisory Services Inc. now owns 1,131 shares of the software maker’s stock valued at $279,000 after acquiring an additional 241 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in shares of Manhattan Associates by 41.1% during the 2nd quarter. Parallel Advisors LLC now owns 1,143 shares of the software maker’s stock valued at $282,000 after acquiring an additional 333 shares during the last quarter. 98.45% of the stock is owned by institutional investors.

Manhattan Associates Company Profile

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.