Manhattan Associates (NASDAQ:MANH) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Manhattan Associates (NASDAQ:MANH) from a hold rating to a buy rating in a report issued on Friday morning.

A number of other equities analysts also recently commented on MANH. Loop Capital lifted their target price on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Truist Financial lifted their target price on Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Piper Sandler started coverage on Manhattan Associates in a research note on Monday, November 25th. They issued an “overweight” rating and a $326.00 target price for the company. DA Davidson lifted their target price on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Citigroup lifted their target price on Manhattan Associates from $287.00 to $306.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $292.89.

Manhattan Associates Stock Performance

NASDAQ:MANH opened at $272.84 on Friday. The company has a market capitalization of $16.66 billion, a price-to-earnings ratio of 77.51 and a beta of 1.52. Manhattan Associates has a one year low of $199.23 and a one year high of $312.60. The stock has a 50-day simple moving average of $282.61 and a 200 day simple moving average of $267.90.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 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% compared to the same quarter last year. During the same period last year, the firm earned $0.79 earnings per share. On average, equities research analysts forecast that Manhattan Associates will post 3.39 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Bruce Richards sold 4,150 shares of the business’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 of the company’s stock, valued at $6,398,976.78. The trade was a 15.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James Stewart Gantt sold 3,475 shares of the business’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 value of $1,001,147.50. Following the sale, the executive vice president now directly owns 42,812 shares in the company, valued at approximately $12,334,137.20. The trade was a 7.51 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Manhattan Associates

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp grew its position in Manhattan Associates by 0.6% in the third quarter. State Street Corp now owns 2,203,139 shares of the software maker’s stock worth $619,918,000 after buying an additional 12,787 shares during the last quarter. FMR LLC grew its position in Manhattan Associates by 7.3% in the third quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock worth $539,521,000 after buying an additional 130,817 shares during the last quarter. Geode Capital Management LLC grew its position in Manhattan Associates by 5.8% in the third quarter. Geode Capital Management LLC now owns 1,514,941 shares of the software maker’s stock worth $426,308,000 after buying an additional 82,995 shares during the last quarter. JPMorgan Chase & Co. grew its position in Manhattan Associates by 213.7% in the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock worth $284,169,000 after buying an additional 687,933 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in Manhattan Associates in the third quarter worth approximately $234,249,000. Institutional investors own 98.45% of the company’s stock.

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.