Manhattan Associates (NASDAQ:MANH) Sets New 52-Week High – What’s Next?

Manhattan Associates, Inc. (NASDAQ:MANH)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $288.73 and last traded at $288.23, with a volume of 22861 shares trading hands. The stock had previously closed at $286.28.

Analysts Set New Price Targets

Several research firms have recently weighed in on MANH. Citigroup boosted their target price on Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Loop Capital lifted their price target 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. Finally, DA Davidson upped their price target on shares of Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $264.57.

Manhattan Associates Price Performance

The stock has a market capitalization of $17.88 billion, a P/E ratio of 93.56 and a beta of 1.50. The stock’s fifty day moving average price is $263.30 and its 200 day moving average price is $242.75.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, July 23rd. The software maker reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.22. The business had revenue of $265.30 million for the quarter, compared to analyst estimates of $255.83 million. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period last year, the company posted $0.63 earnings per share. On average, sell-side analysts expect that Manhattan Associates, Inc. will post 3.01 earnings per share for the current year.

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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Manhattan Associates by 0.9% during the first quarter. Vanguard Group Inc. now owns 6,671,321 shares of the software maker’s stock valued at $1,669,365,000 after purchasing an additional 58,905 shares in the last quarter. TD Asset Management Inc boosted its holdings in shares of Manhattan Associates by 10.5% in the 1st quarter. TD Asset Management Inc now owns 607,167 shares of the software maker’s stock valued at $151,931,000 after buying an additional 57,859 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Manhattan Associates by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 604,115 shares of the software maker’s stock worth $149,023,000 after buying an additional 2,156 shares during the last quarter. RGM Capital LLC raised its stake in shares of Manhattan Associates by 4.1% during the 2nd quarter. RGM Capital LLC now owns 583,037 shares of the software maker’s stock worth $143,824,000 after acquiring an additional 23,000 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in Manhattan Associates by 0.3% during the first quarter. Bessemer Group Inc. now owns 561,901 shares of the software maker’s stock valued at $140,604,000 after acquiring an additional 1,757 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

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.