Manhattan Associates, Inc. (NASDAQ:MANH) Receives $292.89 Consensus Target Price from Brokerages

Shares of Manhattan Associates, Inc. (NASDAQ:MANH) have been given a consensus rating of “Moderate Buy” by the ten research firms that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $292.89.

A number of equities analysts recently weighed in on the stock. DA Davidson boosted their price objective on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Truist Financial upped their price target on Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a report on Friday, October 11th. StockNews.com upgraded Manhattan Associates from a “hold” rating to a “buy” rating in a report on Friday, January 3rd. Citigroup upped their target price on shares of Manhattan Associates from $287.00 to $306.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Finally, Robert W. Baird lifted their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd.

Insider Buying and Selling at Manhattan Associates

In related news, EVP James Stewart Gantt sold 3,475 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the transaction, the executive vice president now directly owns 42,812 shares in the company, valued at approximately $12,334,137.20. The trade was a 7.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Bruce Richards sold 4,150 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the sale, the senior vice president now owns 22,086 shares in the company, valued at approximately $6,398,976.78. The trade was a 15.82 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in shares of Manhattan Associates during the third quarter worth $34,000. Ashton Thomas Private Wealth LLC purchased a new stake in Manhattan Associates in the 2nd quarter worth $31,000. Ashton Thomas Securities LLC purchased a new stake in Manhattan Associates in the 3rd quarter worth $42,000. Carolina Wealth Advisors LLC bought a new position in shares of Manhattan Associates during the 3rd quarter valued at about $50,000. Finally, Brooklyn Investment Group purchased a new position in shares of Manhattan Associates during the third quarter valued at about $58,000. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Trading Up 1.6 %

Manhattan Associates stock opened at $272.49 on Tuesday. Manhattan Associates has a 12 month low of $199.84 and a 12 month high of $312.60. The business’s fifty day simple moving average is $282.67 and its two-hundred day simple moving average is $268.85. The company has a market capitalization of $16.64 billion, a price-to-earnings ratio of 77.41 and a beta of 1.52.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, beating the consensus estimate of $1.06 by $0.29. The company had revenue of $266.70 million for the quarter, compared to the consensus estimate of $262.90 million. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. Manhattan Associates’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.79 EPS. On average, equities research analysts predict that Manhattan Associates will post 3.39 EPS for the current year.

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.