Manhattan Associates (NASDAQ:MANH) Price Target Increased to $285.00 by Analysts at Loop Capital

Manhattan Associates (NASDAQ:MANH) had its price target boosted by Loop Capital from $265.00 to $285.00 in a research note released on Monday, Benzinga reports. Loop Capital currently has a buy rating on the software maker’s stock.

Several other research analysts have also recently issued reports on the company. DA Davidson upped their price objective on Manhattan Associates from $260.00 to $285.00 and gave the stock a buy rating in a research report on Wednesday, July 24th. StockNews.com downgraded shares of Manhattan Associates from a buy rating to a hold rating in a research report on Thursday, August 1st. Finally, Citigroup increased their target price on shares of Manhattan Associates from $220.00 to $257.00 and gave the company a neutral rating in a research report on Friday, June 28th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $260.29.

Manhattan Associates Stock Performance

MANH stock opened at $270.40 on Monday. The company’s 50 day moving average price is $250.51 and its 200 day moving average price is $239.83. The firm has a market capitalization of $16.65 billion, a price-to-earnings ratio of 88.37 and a beta of 1.50. Manhattan Associates has a fifty-two week low of $182.97 and a fifty-two week high of $270.58.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, July 23rd. The software maker reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.22. The company had revenue of $265.30 million for the quarter, compared to the consensus estimate of $255.83 million. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 EPS. Equities analysts forecast that Manhattan Associates will post 3.01 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP James Stewart Gantt sold 6,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 46,287 shares of the company’s stock, valued at $11,872,615.50. The sale was disclosed in a filing 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

Several hedge funds have recently modified their holdings of the stock. Tobam acquired a new position in shares of Manhattan Associates during the first quarter worth about $25,000. Innealta Capital LLC purchased a new stake in Manhattan Associates in the 2nd quarter valued at approximately $26,000. Benjamin Edwards Inc. acquired a new position in Manhattan Associates during the 1st quarter worth approximately $27,000. International Assets Investment Management LLC purchased a new position in shares of Manhattan Associates during the 2nd quarter worth approximately $27,000. Finally, Contravisory Investment Management Inc. acquired a new stake in shares of Manhattan Associates in the 1st quarter valued at approximately $31,000. 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.