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

Manhattan Associates, Inc. (NASDAQ:MANH) has been given a consensus rating of “Moderate Buy” by the ten brokerages that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $292.89.

Several analysts have recently commented on the company. Citigroup increased their price objective on Manhattan Associates from $287.00 to $306.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Robert W. Baird raised their price target on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Loop Capital upped their price objective on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a report on Monday, September 16th. Truist Financial boosted their target price 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. Finally, DA Davidson raised their price target 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.

Manhattan Associates Price Performance

Shares of NASDAQ MANH opened at $271.36 on Tuesday. Manhattan Associates has a 1-year low of $199.62 and a 1-year high of $312.60. The business has a fifty day moving average price of $282.53 and a 200 day moving average price of $268.60. The stock has a market capitalization of $16.57 billion, a P/E ratio of 77.09 and a beta of 1.52.

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

Insider Activity at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 3,475 shares of the firm’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 of the company’s stock, valued at approximately $12,334,137.20. This trade represents a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Bruce Richards sold 4,150 shares of the 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 transaction, the senior vice president now owns 22,086 shares in the company, valued at $6,398,976.78. This trade represents a 15.82 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

Institutional Investors Weigh In On Manhattan Associates

Several large investors have recently bought and sold shares of MANH. Capital Performance Advisors LLP acquired a new stake in shares of Manhattan Associates in the third quarter worth approximately $34,000. Ashton Thomas Private Wealth LLC acquired a new stake in Manhattan Associates during the 2nd quarter worth $31,000. Ashton Thomas Securities LLC acquired a new stake in Manhattan Associates during the 3rd quarter worth $42,000. Carolina Wealth Advisors LLC purchased a new stake in shares of Manhattan Associates during the third quarter worth $50,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Manhattan Associates in the third quarter valued at about $58,000. 98.45% of the stock is currently owned by hedge funds and other 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.