Manhattan Associates (NASDAQ:MANH) Hits New 52-Week High – What’s Next?

Manhattan Associates, Inc. (NASDAQ:MANH)’s stock price hit a new 52-week high during trading on Wednesday. The company traded as high as $261.01 and last traded at $259.6550, with a volume of 25,014 shares traded. The stock had previously closed at $255.14.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MANH. Citigroup lifted their price target on shares of Manhattan Associates from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, October 28th. UBS Group set a $305.00 price objective on Manhattan Associates in a research note on Wednesday, October 28th. Weiss Ratings upgraded Manhattan Associates from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 2nd. Stifel Nicolaus raised their price objective on Manhattan Associates from $250.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, October 28th. Finally, Wall Street Zen lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Sunday. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $261.11.

Manhattan Associates Trading Up 3.0%

The firm has a market cap of $15.26 billion, a PE ratio of 73.56 and a beta of 0.85. The business’s 50-day simple moving average is $218.20 and its 200 day simple moving average is $167.48.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results on Tuesday, October 27th. The software maker reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.09. The firm had revenue of $306.19 million during the quarter, compared to analysts’ expectations of $297.01 million. Manhattan Associates had a net margin of 18.41% and a return on equity of 98.67%. The company’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.36 EPS. Analysts expect that Manhattan Associates, Inc. will post 3.88 earnings per share for the current year.

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, CEO Eric Clark sold 3,000 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total transaction of $593,280.00. Following the sale, the chief executive officer owned 89,638 shares of the company’s stock, valued at approximately $17,726,810.88. This trade represents a 3.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On Manhattan Associates

A number of hedge funds have recently made changes to their positions in MANH. NBH Bank purchased a new position in shares of Manhattan Associates in the 2nd quarter valued at approximately $37,000. Versant Capital Management Inc grew its position in Manhattan Associates by 508.9% during the 2nd quarter. Versant Capital Management Inc now owns 274 shares of the software maker’s stock worth $38,000 after purchasing an additional 229 shares during the last quarter. V Square Quantitative Management LLC grew its position in Manhattan Associates by 35.9% during the 1st quarter. V Square Quantitative Management LLC now owns 348 shares of the software maker’s stock worth $46,000 after purchasing an additional 92 shares during the last quarter. Compass Wealth Management LLC purchased a new stake in Manhattan Associates during the 3rd quarter worth approximately $69,000. Finally, Root Financial Partners LLC acquired a new position in Manhattan Associates during the 3rd quarter valued at approximately $71,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Company Profile

Manhattan Associates, Inc develops supply chain commerce software for retailers, wholesalers, manufacturers and logistics providers. Its solutions help organizations plan, execute and optimize inventory, warehouse, transportation and omnichannel fulfillment operations.

The company’s product portfolio includes warehouse management, transportation management, order management, inventory optimization, labor management and point-of-sale capabilities. Manhattan Associates also provides tools that support warehouse automation, store fulfillment, distributed order management and customer engagement across digital and physical retail channels.

Founded in 1990 and headquartered in Atlanta, Georgia, Manhattan Associates serves customers across North America, Europe, Asia-Pacific and other international markets.