Brokerages Set Manhattan Associates, Inc. (NASDAQ:MANH) PT at $290.78

Shares of Manhattan Associates, Inc. (NASDAQ:MANH) have been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $292.89.

Several equities analysts have recently commented on the company. Robert W. Baird upped their price target on Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. DA Davidson upped their target price on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Raymond James increased their target price on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Loop Capital boosted their price target on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Finally, Truist Financial upped their price objective on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, October 11th.

Insiders Place Their Bets

In related news, EVP James Stewart Gantt sold 3,475 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the transaction, the executive vice president now directly owns 42,812 shares of the company’s stock, valued at $12,334,137.20. The trade was a 7.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Bruce Richards sold 4,150 shares of the 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 completion of the sale, the senior vice president now directly owns 22,086 shares in the company, valued at $6,398,976.78. This represents a 15.82 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

Institutional Trading of Manhattan Associates

A number of large investors have recently made changes to their positions in MANH. Optimist Retirement Group LLC grew its holdings in Manhattan Associates by 9.0% during the 3rd quarter. Optimist Retirement Group LLC now owns 916 shares of the software maker’s stock worth $258,000 after acquiring an additional 76 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Manhattan Associates during the 3rd quarter worth $502,000. Sanctuary Advisors LLC lifted its position in shares of Manhattan Associates by 13.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 6,398 shares of the software maker’s stock worth $1,794,000 after purchasing an additional 743 shares during the last quarter. SkyView Investment Advisors LLC grew its stake in shares of Manhattan Associates by 2.0% during the third quarter. SkyView Investment Advisors LLC now owns 5,120 shares of the software maker’s stock worth $1,441,000 after purchasing an additional 102 shares in the last quarter. Finally, Arete Wealth Advisors LLC purchased a new position in Manhattan Associates in the third quarter valued at $208,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Trading Up 0.3 %

Shares of MANH opened at $282.54 on Friday. Manhattan Associates has a 12-month low of $199.23 and a 12-month high of $312.60. The firm has a market capitalization of $17.26 billion, a P/E ratio of 80.27 and a beta of 1.50. The firm has a 50-day moving average price of $286.39 and a 200 day moving average price of $263.92.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.29. The business had revenue of $266.70 million during the quarter, compared to the consensus estimate of $262.90 million. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The business’s revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.79 EPS. Equities research analysts predict that Manhattan Associates will post 3.39 earnings per share for the current fiscal year.

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.