Manhattan Associates (NASDAQ:MANH) Upgraded to Buy at StockNews.com

Manhattan Associates (NASDAQ:MANH) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

Several other research firms have also recently weighed in on MANH. Piper Sandler started coverage on Manhattan Associates in a report on Monday, November 25th. They set an “overweight” rating and a $326.00 price objective on the stock. Truist Financial lifted their price target on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Robert W. Baird increased their price objective on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. DA Davidson lifted their price target on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Raymond James upped their price target on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $292.89.

Manhattan Associates Stock Up 1.5 %

NASDAQ MANH traded up $4.00 during trading on Friday, reaching $272.84. 280,431 shares of the stock traded hands, compared to its average volume of 286,915. The stock’s 50-day moving average price is $282.61 and its 200 day moving average price is $267.90. The firm has a market cap of $16.66 billion, a price-to-earnings ratio of 77.51 and a beta of 1.52. Manhattan Associates has a fifty-two week low of $199.23 and a fifty-two week high of $312.60.

Manhattan Associates (NASDAQ:MANH) last released 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. The business had revenue of $266.70 million during the quarter, compared to analysts’ expectations of $262.90 million. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.79 EPS. Analysts anticipate that Manhattan Associates will post 3.39 EPS for the current fiscal year.

Insider Activity

In other news, SVP Bruce Richards sold 4,150 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $289.73, for a total value of $1,202,379.50. Following the sale, the senior vice president now directly owns 22,086 shares of the company’s stock, valued at approximately $6,398,976.78. This represents a 15.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James Stewart Gantt sold 3,475 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total transaction 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 $12,334,137.20. This trade 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 Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Fidelis Capital Partners LLC increased its holdings in shares of Manhattan Associates by 3.2% in the third quarter. Fidelis Capital Partners LLC now owns 1,279 shares of the software maker’s stock valued at $347,000 after purchasing an additional 40 shares during the last quarter. Ascent Group LLC grew its stake in Manhattan Associates by 4.8% in the 3rd quarter. Ascent Group LLC now owns 896 shares of the software maker’s stock valued at $252,000 after buying an additional 41 shares during the last quarter. UMB Bank n.a. grew its stake in Manhattan Associates by 16.7% in the 3rd quarter. UMB Bank n.a. now owns 301 shares of the software maker’s stock valued at $85,000 after buying an additional 43 shares during the last quarter. SkyView Investment Advisors LLC lifted its position in Manhattan Associates by 0.9% during the second quarter. SkyView Investment Advisors LLC now owns 5,018 shares of the software maker’s stock worth $1,238,000 after acquiring an additional 46 shares during the last quarter. Finally, Huntington National Bank boosted its holdings in shares of Manhattan Associates by 5.9% during the third quarter. Huntington National Bank now owns 879 shares of the software maker’s stock worth $247,000 after acquiring an additional 49 shares during the period. 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.