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

Shares of Manhattan Associates, Inc. (NASDAQ:MANH) have been assigned a consensus rating of “Moderate Buy” from the five ratings firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $231.29.

MANH has been the topic of a number of analyst reports. Raymond James upped their target price on Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Citigroup started coverage on Manhattan Associates in a report on Wednesday, March 13th. They issued a “neutral” rating and a $260.00 price target for the company. Truist Financial boosted their price target on Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. StockNews.com upgraded Manhattan Associates from a “hold” rating to a “buy” rating in a report on Friday, December 15th. Finally, Rosenblatt Securities boosted their price target on Manhattan Associates from $215.00 to $225.00 and gave the company a “neutral” rating in a report on Wednesday, January 31st.

Insiders Place Their Bets

In other Manhattan Associates news, CEO Eddie Capel sold 10,897 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the sale, the chief executive officer now directly owns 242,153 shares of the company’s stock, valued at approximately $59,988,562.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP James Stewart Gantt sold 680 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total value of $169,211.20. Following the transaction, the executive vice president now directly owns 57,093 shares of the company’s stock, valued at approximately $14,207,022.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Eddie Capel sold 10,897 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the completion of the transaction, the chief executive officer now directly owns 242,153 shares in the company, valued at $59,988,562.69. The disclosure for this sale can be found here. 0.85% of the stock is owned by insiders.

Institutional Trading of Manhattan Associates

A number of hedge funds and other institutional investors have recently made changes to their positions in MANH. Private Advisor Group LLC boosted its position in Manhattan Associates by 19.6% in the 1st quarter. Private Advisor Group LLC now owns 1,911 shares of the software maker’s stock valued at $265,000 after buying an additional 313 shares during the period. PNC Financial Services Group Inc. boosted its position in Manhattan Associates by 7.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,518 shares of the software maker’s stock valued at $349,000 after buying an additional 174 shares during the period. Great West Life Assurance Co. Can boosted its position in Manhattan Associates by 8.2% in the 1st quarter. Great West Life Assurance Co. Can now owns 34,926 shares of the software maker’s stock valued at $4,978,000 after buying an additional 2,644 shares during the period. Raymond James Trust N.A. boosted its position in Manhattan Associates by 6.2% in the 1st quarter. Raymond James Trust N.A. now owns 2,841 shares of the software maker’s stock valued at $394,000 after buying an additional 166 shares during the period. Finally, Aviva PLC boosted its position in Manhattan Associates by 6.1% in the 1st quarter. Aviva PLC now owns 16,701 shares of the software maker’s stock valued at $2,317,000 after buying an additional 965 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Stock Up 0.6 %

NASDAQ:MANH opened at $239.66 on Friday. The business’s 50-day simple moving average is $248.74 and its two-hundred day simple moving average is $224.85. The stock has a market cap of $14.76 billion, a PE ratio of 84.99 and a beta of 1.44. Manhattan Associates has a 52 week low of $152.32 and a 52 week high of $266.94.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.23. Manhattan Associates had a return on equity of 84.08% and a net margin of 19.01%. The firm had revenue of $238.26 million during the quarter, compared to analyst estimates of $223.99 million. Sell-side analysts anticipate that Manhattan Associates will post 2.78 earnings per share for the current fiscal year.

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.