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

Manhattan Associates, Inc. (NASDAQ:MANH) has been given a consensus recommendation of “Moderate Buy” by the eight research firms that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $264.57.

Several research firms have issued reports on MANH. Loop Capital increased their target price on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Citigroup raised their target price on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a report on Wednesday. DA Davidson lifted their price objective on Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st.

Insiders Place Their Bets

In other news, EVP James Stewart Gantt sold 6,000 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total value of $1,539,000.00. Following the completion of the sale, the executive vice president now owns 46,287 shares in the company, valued at approximately $11,872,615.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Manhattan Associates

Hedge funds have recently modified their holdings of the stock. Tobam purchased a new stake in shares of Manhattan Associates in the 1st quarter valued at $25,000. Innealta Capital LLC purchased a new position in shares of Manhattan Associates during the 2nd quarter valued at approximately $26,000. Benjamin Edwards Inc. acquired a new stake in Manhattan Associates in the 1st quarter valued at $27,000. International Assets Investment Management LLC purchased a new stake in shares of Manhattan Associates during the second quarter worth about $27,000. Finally, Contravisory Investment Management Inc. purchased a new stake in shares of Manhattan Associates during the first quarter worth approximately $31,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

Shares of MANH opened at $280.25 on Friday. The firm has a market cap of $17.25 billion, a PE ratio of 91.58 and a beta of 1.50. Manhattan Associates has a 52-week low of $182.97 and a 52-week high of $287.63. The business’s 50 day moving average price is $258.44 and its two-hundred day moving average price is $241.32.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, July 23rd. The software maker reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.22. The firm had revenue of $265.30 million during the quarter, compared to analysts’ expectations of $255.83 million. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The business’s revenue was up 14.8% on a year-over-year basis. During the same period last year, the company earned $0.63 earnings per share. Research analysts predict that Manhattan Associates will post 3.01 EPS for the current fiscal year.

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.