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

Manhattan Associates, Inc. (NASDAQ:MANH) has been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $264.57.

A number of research analysts have issued reports on MANH shares. Loop Capital increased their target price on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a report on Monday, September 16th. Citigroup increased their price objective on shares of Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research note on Wednesday. DA Davidson lifted their target price on shares of Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st.

Manhattan Associates Stock Down 1.3 %

Shares of MANH opened at $280.25 on Friday. The stock has a 50 day moving average price of $258.44 and a 200 day moving average price of $241.32. The company has a market capitalization of $17.25 billion, a price-to-earnings ratio of 91.58 and a beta of 1.50. Manhattan Associates has a 52-week low of $182.97 and a 52-week high of $287.63.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results 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 firm had revenue of $265.30 million for the quarter, compared to analyst estimates of $255.83 million. During the same quarter last year, the company posted $0.63 earnings per share. The business’s revenue was up 14.8% on a year-over-year basis. On average, equities analysts anticipate that Manhattan Associates will post 3.01 EPS for the current fiscal year.

Insider Transactions 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 transaction, the executive vice president now owns 46,287 shares in the company, valued at $11,872,615.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Manhattan Associates

Several institutional investors and hedge funds have recently made changes to their positions in the business. Tobam bought a new stake in Manhattan Associates during the first quarter valued at $25,000. Innealta Capital LLC bought a new stake in Manhattan Associates in the second quarter valued at $26,000. Benjamin Edwards Inc. bought a new stake in Manhattan Associates in the first quarter valued at $27,000. International Assets Investment Management LLC acquired a new position in shares of Manhattan Associates during the second quarter valued at $27,000. Finally, Contravisory Investment Management Inc. acquired a new stake in shares of Manhattan Associates in the 1st quarter worth about $31,000. 98.45% of the stock is currently owned by hedge funds and other 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.