Truist Financial Raises Manhattan Associates (NASDAQ:MANH) Price Target to $310.00

Manhattan Associates (NASDAQ:MANH) had its price objective raised by Truist Financial from $275.00 to $310.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a buy rating on the software maker’s stock.

A number of other research firms also recently weighed in on MANH. Citigroup increased their price target on Manhattan Associates from $257.00 to $287.00 and gave the company a neutral rating in a research note on Wednesday, September 25th. DA Davidson raised their target price on Manhattan Associates from $260.00 to $285.00 and gave the stock a buy rating in a report on Wednesday, July 24th. StockNews.com cut Manhattan Associates from a buy rating to a hold rating in a research note on Thursday, August 1st. Finally, Loop Capital lifted their price objective on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a buy rating in a research note on Monday, September 16th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $271.71.

Manhattan Associates Stock Performance

Shares of MANH opened at $304.64 on Friday. The company has a market cap of $18.76 billion, a price-to-earnings ratio of 99.56 and a beta of 1.50. The stock has a fifty day moving average price of $267.33 and a two-hundred day moving average price of $244.10. Manhattan Associates has a 52-week low of $182.97 and a 52-week high of $305.61.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, July 23rd. The software maker reported $1.18 EPS for the quarter, beating the consensus estimate of $0.96 by $0.22. The company had revenue of $265.30 million during the quarter, compared to analysts’ expectations of $255.83 million. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period last year, the firm earned $0.63 EPS. As a group, research analysts predict that Manhattan Associates will post 3.01 EPS for the current fiscal year.

Insider Buying and Selling

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of Manhattan Associates stock in a transaction that occurred on 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 transaction, the executive vice president now owns 46,287 shares of the company’s stock, valued at approximately $11,872,615.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.72% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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