Manhattan Associates, Inc. (NASDAQ:MANH) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Manhattan Associates, Inc. (NASDAQ:MANH) have earned an average rating of “Moderate Buy” from the ten brokerages that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $292.89.

MANH has been the topic of a number of analyst reports. Piper Sandler started coverage on shares of Manhattan Associates in a research note on Monday, November 25th. They set an “overweight” rating and a $326.00 target price on the stock. Loop Capital upped their price target on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, September 16th. StockNews.com raised Manhattan Associates from a “hold” rating to a “buy” rating in a research report on Friday. DA Davidson upped their target price on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Citigroup lifted their price target on shares of Manhattan Associates from $287.00 to $306.00 and gave the company a “neutral” rating in a research report on Monday, December 16th.

Manhattan Associates Stock Performance

NASDAQ:MANH opened at $271.36 on Tuesday. Manhattan Associates has a one year low of $199.62 and a one year high of $312.60. The stock has a market cap of $16.57 billion, a PE ratio of 77.09 and a beta of 1.52. The stock has a 50 day moving average price of $282.53 and a 200 day moving average price of $268.60.

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

Insiders Place Their Bets

In other news, EVP James Stewart Gantt sold 3,475 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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. The trade was a 15.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its stake in shares of Manhattan Associates by 30.5% during the second quarter. Victory Capital Management Inc. now owns 53,856 shares of the software maker’s stock worth $13,285,000 after purchasing an additional 12,593 shares in the last quarter. MainStreet Investment Advisors LLC increased its holdings in shares of Manhattan Associates by 6.4% in the 2nd quarter. MainStreet Investment Advisors LLC now owns 2,459 shares of the software maker’s stock valued at $607,000 after acquiring an additional 148 shares during the last quarter. Caprock Group LLC purchased a new position in shares of Manhattan Associates in the 2nd quarter valued at about $1,024,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Manhattan Associates during the 2nd quarter worth about $31,000. Finally, Choreo LLC lifted its stake in Manhattan Associates by 35.8% during the second quarter. Choreo LLC now owns 1,935 shares of the software maker’s stock worth $475,000 after purchasing an additional 510 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

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.