Manhattan Associates (NASDAQ:MANH) Hits New 12-Month High at $279.57

Manhattan Associates, Inc. (NASDAQ:MANH) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $279.57 and last traded at $279.39, with a volume of 74449 shares changing hands. The stock had previously closed at $275.94.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. DA Davidson upped their price target on Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. 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 report on Monday, September 16th. Finally, Citigroup upped their price objective on shares of Manhattan Associates from $220.00 to $257.00 and gave the company a “neutral” rating in a research report on Friday, June 28th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $260.29.

Manhattan Associates Price Performance

The business’s 50-day moving average is $252.97 and its two-hundred day moving average is $240.34. The firm has a market cap of $17.32 billion, a P/E ratio of 91.92 and a beta of 1.50.

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, topping analysts’ consensus estimates of $0.96 by $0.22. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The company had revenue of $265.30 million during the quarter, compared to analysts’ expectations of $255.83 million. During the same quarter in the previous year, the company posted $0.63 earnings per share. The business’s revenue was up 14.8% on a year-over-year basis. Equities research analysts predict that Manhattan Associates, Inc. will post 3.01 EPS for the current year.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of the business’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the completion of the transaction, the executive vice president now owns 46,287 shares of the company’s stock, valued at $11,872,615.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.72% of the company’s stock.

Institutional Trading of Manhattan Associates

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new stake in Manhattan Associates in the second quarter worth approximately $1,395,000. Cetera Investment Advisers increased its stake in shares of Manhattan Associates by 9.0% in the 2nd quarter. Cetera Investment Advisers now owns 4,240 shares of the software maker’s stock valued at $1,046,000 after acquiring an additional 349 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Manhattan Associates during the 2nd quarter valued at $19,606,000. Northwestern Mutual Wealth Management Co. boosted its stake in Manhattan Associates by 12.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,559 shares of the software maker’s stock worth $631,000 after acquiring an additional 274 shares in the last quarter. Finally, Creative Planning grew its holdings in Manhattan Associates by 8.7% in the second quarter. Creative Planning now owns 7,279 shares of the software maker’s stock worth $1,796,000 after purchasing an additional 583 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

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.