Manhattan Associates, Inc. (NASDAQ:MANH) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Manhattan Associates, Inc. (NASDAQ:MANH) has been assigned a consensus rating of “Moderate Buy” from the ten research firms that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $214.20.

Several research analysts recently weighed in on the stock. Weiss Ratings raised shares of Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 14th. Stifel Nicolaus raised their price target on Manhattan Associates from $200.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Morgan Stanley set a $180.00 price objective on Manhattan Associates in a research report on Wednesday, July 29th. Citigroup boosted their price objective on Manhattan Associates from $177.00 to $193.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Finally, DA Davidson lowered Manhattan Associates from a “buy” rating to a “neutral” rating and set a $210.00 price objective for the company. in a research note on Monday.

Manhattan Associates Trading Up 2.7%

Shares of MANH stock opened at $204.15 on Friday. Manhattan Associates has a 12 month low of $119.06 and a 12 month high of $227.03. The stock has a market cap of $11.90 billion, a P/E ratio of 58.50 and a beta of 0.95. The company has a 50 day simple moving average of $202.94 and a two-hundred day simple moving average of $162.57.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.07. Manhattan Associates had a net margin of 18.67% and a return on equity of 86.72%. The business had revenue of $297.79 million for the quarter, compared to analysts’ expectations of $289.03 million. During the same quarter last year, the company posted $1.31 EPS. The company’s revenue was up 9.3% compared to the same quarter last year. As a group, equities analysts forecast that Manhattan Associates will post 3.86 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Eric Clark sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total value of $593,280.00. Following the transaction, the chief executive officer directly owned 89,638 shares of the company’s stock, valued at approximately $17,726,810.88. The trade was a 3.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James Gantt sold 5,139 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $195.53, for a total value of $1,004,828.67. Following the completion of the transaction, the executive vice president owned 55,676 shares of the company’s stock, valued at $10,886,328.28. The trade was 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 insiders.

Hedge Funds Weigh In On Manhattan Associates

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in Manhattan Associates in the 2nd quarter valued at $944,285,000. T. Rowe Price Investment Management Inc. grew its position in shares of Manhattan Associates by 35.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,580,241 shares of the software maker’s stock valued at $447,182,000 after purchasing an additional 671,589 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Manhattan Associates by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 1,753,909 shares of the software maker’s stock valued at $305,199,000 after purchasing an additional 88,005 shares in the last quarter. Swedbank AB grew its position in shares of Manhattan Associates by 25.0% during the first quarter. Swedbank AB now owns 1,500,000 shares of the software maker’s stock valued at $199,680,000 after purchasing an additional 300,000 shares in the last quarter. Finally, TD Asset Management Inc increased its holdings in shares of Manhattan Associates by 37.2% in the fourth quarter. TD Asset Management Inc now owns 730,815 shares of the software maker’s stock worth $126,658,000 after purchasing an additional 198,228 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Company Profile

Manhattan Associates, Inc develops cloud-based software designed to help businesses manage supply chains, inventory, warehouse operations, transportation, and omnichannel commerce. Its solutions are used by retailers, wholesalers, manufacturers, distributors, logistics providers, and other organizations seeking to coordinate products, orders, labor, and fulfillment activities.

The company’s product portfolio includes Manhattan Active Warehouse Management, Manhattan Active Transportation Management, Manhattan Active Order Management, and related tools for inventory optimization, workforce management, customer engagement, and point-of-sale operations.