Manhattan Associates (NASDAQ:MANH) Hits New 52-Week High at $279.57

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

Analyst Ratings Changes

A number of analysts have commented on the company. Citigroup boosted their price objective on Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a report on Friday, June 28th. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. DA Davidson increased their target price on shares of Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Loop Capital boosted their price target on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Manhattan Associates has an average rating of “Moderate Buy” and an average price target of $260.29.

Manhattan Associates Trading Up 1.9 %

The firm has a fifty day moving average of $252.97 and a two-hundred day moving average of $240.34. The company has a market capitalization of $17.32 billion, a PE ratio of 91.92 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, July 23rd. The software maker reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.22. The company had revenue of $265.30 million during the quarter, compared to analyst estimates of $255.83 million. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. Manhattan Associates’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.63 earnings per share. On average, equities analysts expect that Manhattan Associates, Inc. will post 3.01 EPS for the current fiscal year.

Insider Activity at Manhattan Associates

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

Hedge Funds Weigh In On Manhattan Associates

A number of hedge funds have recently added to or reduced their stakes in the company. Corient Private Wealth LLC increased its holdings in Manhattan Associates by 88.7% in the 4th quarter. Corient Private Wealth LLC now owns 4,368 shares of the software maker’s stock worth $941,000 after buying an additional 2,053 shares in the last quarter. Quest Partners LLC purchased a new position in shares of Manhattan Associates during the fourth quarter valued at approximately $77,000. Assetmark Inc. lifted its position in Manhattan Associates by 18,400.0% during the fourth quarter. Assetmark Inc. now owns 1,295 shares of the software maker’s stock valued at $279,000 after purchasing an additional 1,288 shares during the period. Advisory Services Network LLC lifted its position in Manhattan Associates by 52.2% during the fourth quarter. Advisory Services Network LLC now owns 4,082 shares of the software maker’s stock valued at $879,000 after purchasing an additional 1,400 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in Manhattan Associates by 82.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 26,894 shares of the software maker’s stock worth $5,791,000 after purchasing an additional 12,124 shares during the last quarter. 98.45% of the stock is currently 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.