Manhattan Associates (NASDAQ:MANH) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Manhattan Associates (NASDAQ:MANH) from a buy rating to a hold rating in a research report released on Monday morning.

A number of other brokerages also recently commented on MANH. 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 report on Tuesday, October 22nd. DA Davidson boosted their price target on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Truist Financial increased their price target on Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Piper Sandler started coverage on Manhattan Associates in a research report on Monday, November 25th. They issued an “overweight” rating and a $326.00 price objective for the company. Finally, Raymond James increased their target price on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $292.89.

Manhattan Associates Stock Performance

Shares of NASDAQ:MANH opened at $265.33 on Monday. The business’s fifty day moving average price is $282.66 and its two-hundred day moving average price is $269.51. The stock has a market cap of $16.21 billion, a PE ratio of 75.38 and a beta of 1.52. Manhattan Associates has a one year low of $205.12 and a one year high of $312.60.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.29. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The business had revenue of $266.70 million for the quarter, compared to analyst estimates of $262.90 million. During the same quarter last year, the company earned $0.79 earnings per share. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, equities research analysts predict that Manhattan Associates will post 3.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Bruce Richards sold 4,150 shares of Manhattan Associates stock in a transaction on Friday, November 29th. The shares were sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP James Stewart Gantt sold 3,475 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total value of $1,001,147.50. Following the completion of the sale, the executive vice president now owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. This represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Manhattan Associates

Several hedge funds have recently modified their holdings of MANH. Ashton Thomas Private Wealth LLC acquired a new stake in Manhattan Associates in the second quarter valued at approximately $31,000. Capital Performance Advisors LLP acquired a new stake in Manhattan Associates during the 3rd quarter valued at $34,000. Ashton Thomas Securities LLC acquired a new stake in Manhattan Associates during the 3rd quarter valued at $42,000. Carolina Wealth Advisors LLC purchased a new stake in Manhattan Associates during the 3rd quarter worth $50,000. Finally, Brooklyn Investment Group acquired a new position in Manhattan Associates in the 3rd quarter worth $58,000. 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.