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

Shares of Manhattan Associates, Inc. (NASDAQ:MANH) have been assigned a consensus rating of “Moderate Buy” from the ten brokerages that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $290.78.

A number of research firms recently weighed in on MANH. Piper Sandler initiated coverage on Manhattan Associates in a research note on Monday, November 25th. They issued an “overweight” rating and a $326.00 price target on the stock. Raymond James increased 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. DA Davidson lifted their target price on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Loop Capital upped their price target on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Finally, Truist Financial raised their price objective on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, October 11th.

Manhattan Associates Stock Up 3.0 %

NASDAQ:MANH opened at $309.78 on Friday. Manhattan Associates has a twelve month low of $199.23 and a twelve month high of $312.60. The firm has a market capitalization of $18.92 billion, a price-to-earnings ratio of 88.01 and a beta of 1.50. The stock’s 50 day moving average price is $285.94 and its two-hundred day moving average price is $261.51.

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

Insider Transactions at Manhattan Associates

In other news, SVP Bruce Richards sold 4,150 shares of the business’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 completion of the transaction, the senior vice president now directly owns 22,086 shares in the company, valued at approximately $6,398,976.78. The trade was a 15.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. This trade represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Manhattan Associates

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Manhattan Associates by 15.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 2,080 shares of the software maker’s stock worth $513,000 after buying an additional 280 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in Manhattan Associates during the 2nd quarter worth $166,000. Envestnet Portfolio Solutions Inc. increased its holdings in Manhattan Associates by 26.0% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,348 shares of the software maker’s stock worth $1,319,000 after purchasing an additional 1,105 shares in the last quarter. Blue Trust Inc. raised its position in Manhattan Associates by 238.4% in the second quarter. Blue Trust Inc. now owns 555 shares of the software maker’s stock valued at $139,000 after purchasing an additional 391 shares during the last quarter. Finally, Gladius Capital Management LP boosted its stake in shares of Manhattan Associates by 5.8% during the second quarter. Gladius Capital Management LP now owns 4,671 shares of the software maker’s stock valued at $1,152,000 after purchasing an additional 254 shares in the last quarter. 98.45% of the stock is currently 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.