Manhattan Associates (NASDAQ:MANH) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of Manhattan Associates (NASDAQ:MANH) from a buy rating to a hold rating in a research note released on Monday.

A number of other analysts have also recently commented on MANH. Robert W. Baird lifted their target price on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Truist Financial boosted their price objective on Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Raymond James raised their target price on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. DA Davidson upped their price target on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Loop Capital raised their price objective 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. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Manhattan Associates currently has an average rating of “Moderate Buy” and a consensus price target of $292.89.

Manhattan Associates Stock Performance

Shares of NASDAQ MANH opened at $265.33 on Monday. The stock’s 50-day simple moving average is $282.66 and its 200-day simple moving average is $269.51. The firm has a market capitalization of $16.21 billion, a PE ratio of 75.38 and a beta of 1.52. Manhattan Associates has a fifty-two week low of $205.12 and a fifty-two week high of $312.60.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, topping the consensus estimate 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 net margin of 21.38% and a return on equity of 84.55%. The company’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.79 EPS. On average, sell-side analysts forecast that Manhattan Associates will post 3.39 earnings per share for the current fiscal year.

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 3,475 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Bruce Richards sold 4,150 shares of the business’s stock in a transaction 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 in the company, valued at $6,398,976.78. The trade was a 15.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA purchased a new stake in shares of Manhattan Associates during the 3rd quarter worth approximately $234,249,000. JPMorgan Chase & Co. boosted its position in Manhattan Associates by 213.7% during the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock worth $284,169,000 after purchasing an additional 687,933 shares in the last quarter. Squarepoint Ops LLC grew its holdings in Manhattan Associates by 448.9% in the second quarter. Squarepoint Ops LLC now owns 160,649 shares of the software maker’s stock valued at $39,629,000 after purchasing an additional 131,381 shares during the last quarter. FMR LLC grew its holdings in Manhattan Associates by 7.3% in the third quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock valued at $539,521,000 after purchasing an additional 130,817 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Manhattan Associates by 118.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 173,644 shares of the software maker’s stock valued at $48,860,000 after buying an additional 94,283 shares in the last quarter. 98.45% of the stock is 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.