Manhattan Associates, Inc. (NASDAQ:MANH) Receives $209.20 Consensus Price Target from Analysts

Manhattan Associates, Inc. (NASDAQ:MANH) has received a consensus rating of “Moderate Buy” from the eleven analysts that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $209.20.

A number of research analysts recently weighed in on MANH shares. Barclays decreased their target price on Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. Weiss Ratings raised shares of Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 14th. Robert W. Baird raised their target price on shares of Manhattan Associates from $186.00 to $218.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Stifel Nicolaus upped their price target on shares of Manhattan Associates from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Finally, Rothschild & Co Redburn set a $145.00 price objective on shares of Manhattan Associates in a research report on Thursday, April 16th.

Manhattan Associates Stock Performance

Manhattan Associates stock opened at $195.69 on Thursday. Manhattan Associates has a 52 week low of $119.06 and a 52 week high of $220.72. The stock has a market capitalization of $11.41 billion, a P/E ratio of 56.07 and a beta of 0.93. The stock has a 50-day simple moving average of $156.05 and a 200 day simple moving average of $146.08.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.07. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.The firm had revenue of $297.79 million for the quarter, compared to the consensus estimate of $289.03 million. During the same quarter in the previous year, the business earned $1.31 earnings per share. The business’s revenue was up 9.3% compared to the same quarter last year. Research analysts forecast that Manhattan Associates will post 3.87 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Eric Andrew Clark sold 1,000 shares of Manhattan Associates stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $146.77, for a total transaction of $146,770.00. Following the completion of the sale, the chief executive officer directly owned 92,638 shares of the company’s stock, valued at approximately $13,596,479.26. This trade represents a 1.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP James Stewart Gantt sold 5,139 shares of the business’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $195.53, for a total value of $1,004,828.67. Following the completion of the sale, the executive vice president owned 55,676 shares of the company’s stock, valued at $10,886,328.28. This trade represents a 8.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.84% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Manhattan Associates

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Manhattan Associates in the second quarter valued at approximately $944,285,000. Norges Bank bought a new position in Manhattan Associates during the 4th quarter worth $124,264,000. T. Rowe Price Investment Management Inc. increased its stake in Manhattan Associates by 35.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,580,241 shares of the software maker’s stock worth $447,182,000 after acquiring an additional 671,589 shares during the period. Bank of New York Mellon Corp acquired a new position in Manhattan Associates in the 2nd quarter valued at $54,011,000. Finally, Amundi raised its holdings in Manhattan Associates by 479.4% in the 1st quarter. Amundi now owns 454,095 shares of the software maker’s stock valued at $60,449,000 after acquiring an additional 375,719 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

About Manhattan Associates

Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.