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

Manhattan Associates, Inc. (NASDAQ:MANH) has been assigned a consensus rating of “Moderate Buy” from the eight research firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $257.43.

MANH has been the topic of several recent research reports. Loop Capital raised their price objective on Manhattan Associates from $250.00 to $265.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. StockNews.com lowered shares of 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 report on Wednesday, July 24th. Citigroup raised their price objective on Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th. Finally, Redburn Atlantic started coverage on Manhattan Associates in a report on Tuesday, May 14th. They issued a “buy” rating and a $260.00 target price on the stock.

Manhattan Associates Price Performance

Shares of Manhattan Associates stock opened at $256.39 on Wednesday. Manhattan Associates has a 1 year low of $182.97 and a 1 year high of $267.00. The company has a market capitalization of $15.79 billion, a price-to-earnings ratio of 83.79 and a beta of 1.50. The business has a fifty day simple moving average of $248.03 and a two-hundred day simple moving average of $239.07.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, July 23rd. The software maker reported $1.18 earnings per share for the quarter, beating 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 firm had revenue of $265.30 million during the quarter, compared to the consensus estimate of $255.83 million. During the same period in the prior year, the company posted $0.63 EPS. The company’s revenue was up 14.8% compared to the same quarter last year. As a group, equities analysts anticipate that Manhattan Associates will post 3.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP James Stewart Gantt sold 6,000 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the transaction, the executive vice president now owns 46,287 shares in the company, valued at approximately $11,872,615.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Manhattan Associates

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Tobam purchased a new position in Manhattan Associates during the first quarter worth about $25,000. Innealta Capital LLC bought a new stake in Manhattan Associates during the 2nd quarter worth approximately $26,000. Benjamin Edwards Inc. bought a new stake in Manhattan Associates during the 1st quarter worth approximately $27,000. International Assets Investment Management LLC bought a new stake in Manhattan Associates during the 2nd quarter worth approximately $27,000. Finally, Contravisory Investment Management Inc. bought a new stake in Manhattan Associates during the 1st quarter worth approximately $31,000. 98.45% of the stock is owned by 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.