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

Shares of Manhattan Associates, Inc. (NASDAQ:MANH) have received an average recommendation of “Moderate Buy” from the eleven ratings firms that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $213.40.

A number of equities analysts recently commented on MANH shares. Robert W. Baird lifted their price objective on Manhattan Associates from $218.00 to $260.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 26th. Citigroup upped their target price on Manhattan Associates from $177.00 to $193.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. DA Davidson raised their target price on Manhattan Associates from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Morgan Stanley set a $180.00 price target on Manhattan Associates in a report on Wednesday, July 29th. Finally, Wall Street Zen cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th.

Insider Activity

In other Manhattan Associates news, CEO Eric Clark sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were 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 in the company, valued at $17,726,810.88. The trade was a 3.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP James Gantt sold 5,139 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the completion of the sale, the executive vice president directly owned 55,676 shares of the company’s stock, valued at approximately $10,886,328.28. This trade represents a 8.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 9,139 shares of company stock valued at $1,744,879. 0.84% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MANH. Geode Capital Management LLC grew its stake in Manhattan Associates by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 1,753,909 shares of the software maker’s stock worth $305,199,000 after purchasing an additional 88,005 shares in the last quarter. MUFG Securities EMEA plc acquired a new stake in Manhattan Associates in the 4th quarter valued at about $6,066,000. John G Ullman & Associates Inc. acquired a new stake in Manhattan Associates in the 4th quarter valued at about $2,106,000. BlackRock Inc. purchased a new position in shares of Manhattan Associates in the 2nd quarter valued at about $944,285,000. Finally, William Blair Investment Management LLC purchased a new position in shares of Manhattan Associates in the 2nd quarter valued at about $94,049,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Stock Performance

MANH stock opened at $213.77 on Monday. The firm has a 50-day moving average of $182.70 and a two-hundred day moving average of $153.84. Manhattan Associates has a 12 month low of $119.06 and a 12 month high of $227.03. The company has a market cap of $12.46 billion, a price-to-earnings ratio of 61.25 and a beta of 0.95.

Manhattan Associates (NASDAQ:MANH) last issued its 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. The business had revenue of $297.79 million for the quarter, compared to analysts’ expectations of $289.03 million. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.31 EPS. As a group, equities analysts forecast that Manhattan Associates will post 3.87 earnings per share for the current year.

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.