Manhattan Associates (NASDAQ:MANH) Sets New 52-Week High – What’s Next?

Manhattan Associates, Inc. (NASDAQ:MANH)’s share price reached a new 52-week high on Wednesday . The company traded as high as $288.73 and last traded at $288.23, with a volume of 22861 shares traded. The stock had previously closed at $286.28.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MANH. Citigroup upped their target price on Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Loop Capital upped their price objective 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. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, DA Davidson upped their price target on shares of Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Four investment 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 presently has an average rating of “Moderate Buy” and a consensus target price of $264.57.

Manhattan Associates Stock Performance

The company has a market cap of $17.88 billion, a price-to-earnings ratio of 93.56 and a beta of 1.50. The company’s fifty day moving average is $263.30 and its two-hundred day moving average is $242.75.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data 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 firm had revenue of $265.30 million for 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%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.63 earnings per share. On average, sell-side analysts anticipate that Manhattan Associates, Inc. will post 3.01 EPS for the current fiscal year.

Insider Activity at Manhattan Associates

In other news, EVP James Stewart Gantt sold 6,000 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 46,287 shares of the company’s stock, valued at $11,872,615.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.72% of the stock is owned by company insiders.

Institutional Investors Weigh In On Manhattan Associates

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Manhattan Associates by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 6,671,321 shares of the software maker’s stock worth $1,669,365,000 after purchasing an additional 58,905 shares during the period. TD Asset Management Inc increased its position in shares of Manhattan Associates by 10.5% in the first quarter. TD Asset Management Inc now owns 607,167 shares of the software maker’s stock valued at $151,931,000 after buying an additional 57,859 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Manhattan Associates by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 604,115 shares of the software maker’s stock worth $149,023,000 after buying an additional 2,156 shares during the period. RGM Capital LLC lifted its position in shares of Manhattan Associates by 4.1% during the 2nd quarter. RGM Capital LLC now owns 583,037 shares of the software maker’s stock valued at $143,824,000 after buying an additional 23,000 shares in the last quarter. Finally, Bessemer Group Inc. grew its stake in Manhattan Associates by 0.3% in the 1st quarter. Bessemer Group Inc. now owns 561,901 shares of the software maker’s stock valued at $140,604,000 after acquiring an additional 1,757 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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.