Manhattan Associates (NASDAQ:MANH) PT Raised to $287.00

Manhattan Associates (NASDAQ:MANH) had its target price lifted by Citigroup from $257.00 to $287.00 in a research note published on Wednesday morning, Benzinga reports. Citigroup currently has a neutral rating on the software maker’s stock.

A number of other research firms have also recently issued reports on MANH. DA Davidson upped their price target on shares of Manhattan Associates from $260.00 to $285.00 and gave the company a buy rating in a report on Wednesday, July 24th. StockNews.com lowered Manhattan Associates from a buy rating to a hold rating in a report on Thursday, August 1st. Finally, Loop Capital increased their price objective on Manhattan Associates from $265.00 to $285.00 and gave the company a buy rating in a research report on Monday, September 16th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Manhattan Associates currently has an average rating of Moderate Buy and a consensus target price of $264.57.

Manhattan Associates Trading Down 1.3 %

Manhattan Associates stock opened at $280.25 on Wednesday. Manhattan Associates has a 1-year low of $182.97 and a 1-year high of $287.63. The firm’s fifty day simple moving average is $258.44 and its 200-day simple moving average is $241.32. The company has a market capitalization of $17.25 billion, a P/E ratio of 91.58 and a beta of 1.50.

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

Insider Buying and Selling at Manhattan Associates

In other news, EVP James Stewart Gantt sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was 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 directly owns 46,287 shares of the company’s stock, valued at approximately $11,872,615.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Manhattan Associates

Several hedge funds and other institutional investors have recently made changes to their positions in MANH. Corient Private Wealth LLC raised its holdings in Manhattan Associates by 88.7% during the 4th quarter. Corient Private Wealth LLC now owns 4,368 shares of the software maker’s stock worth $941,000 after purchasing an additional 2,053 shares during the last quarter. Quest Partners LLC acquired a new position in Manhattan Associates in the fourth quarter valued at approximately $77,000. Assetmark Inc. grew its holdings in Manhattan Associates by 18,400.0% during the 4th quarter. Assetmark Inc. now owns 1,295 shares of the software maker’s stock worth $279,000 after acquiring an additional 1,288 shares during the period. Advisory Services Network LLC lifted its stake in shares of Manhattan Associates by 52.2% in the 4th quarter. Advisory Services Network LLC now owns 4,082 shares of the software maker’s stock valued at $879,000 after purchasing an additional 1,400 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of Manhattan Associates by 82.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 26,894 shares of the software maker’s stock worth $5,791,000 after purchasing an additional 12,124 shares during the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

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.