Manhattan Associates, Inc. (NASDAQ:MANH) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Manhattan Associates, Inc. (NASDAQ:MANH) have been assigned a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $286.38.

A number of research firms have weighed in on MANH. DA Davidson increased their price target on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research note on Wednesday. Truist Financial increased their target price on Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Loop Capital boosted their price target on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Raymond James raised their price objective on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total value of $1,539,000.00. Following the completion of the transaction, the executive vice president now owns 46,287 shares in the company, valued at $11,872,615.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MANH. Tobam purchased a new stake in Manhattan Associates during the 1st quarter worth $25,000. Innealta Capital LLC purchased a new stake in shares of Manhattan Associates during the second quarter worth about $26,000. International Assets Investment Management LLC acquired a new position in shares of Manhattan Associates in the second quarter worth about $27,000. DT Investment Partners LLC purchased a new position in Manhattan Associates in the second quarter valued at about $31,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Manhattan Associates during the 2nd quarter valued at approximately $31,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Manhattan Associates Trading Down 7.2 %

Manhattan Associates stock opened at $271.36 on Thursday. The stock has a fifty day moving average price of $273.75 and a 200 day moving average price of $246.41. Manhattan Associates has a 52 week low of $182.97 and a 52 week high of $307.50. The firm has a market capitalization of $16.71 billion, a P/E ratio of 88.68 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.29. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The company had revenue of $266.70 million during the quarter, compared to the consensus estimate of $262.90 million. During the same quarter in the prior year, the company posted $0.79 EPS. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, equities analysts predict that Manhattan Associates will post 3.01 EPS 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.