Manhattan Associates (NASDAQ:MANH) Announces Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Manhattan Associates (NASDAQ:MANH) issued its quarterly earnings results on Tuesday. The software maker reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.10, FiscalAI reports. Manhattan Associates had a return on equity of 78.80% and a net margin of 20.25%.The company had revenue of $270.39 million during the quarter, compared to the consensus estimate of $264.69 million.

Manhattan Associates Stock Performance

Manhattan Associates stock traded down $7.63 during midday trading on Tuesday, hitting $169.64. 1,024,669 shares of the company’s stock were exchanged, compared to its average volume of 650,673. Manhattan Associates has a 12 month low of $140.81 and a 12 month high of $299.27. The firm has a 50-day moving average of $173.90 and a two-hundred day moving average of $193.62. The company has a market cap of $10.22 billion, a PE ratio of 48.33 and a beta of 1.02.

Wall Street Analysts Forecast Growth

MANH has been the topic of several analyst reports. Stifel Nicolaus cut their price target on shares of Manhattan Associates from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Friday. UBS Group set a $240.00 target price on Manhattan Associates in a research note on Wednesday, October 22nd. Barclays decreased their price target on Manhattan Associates from $239.00 to $237.00 and set an “overweight” rating for the company in a research note on Monday, January 12th. Weiss Ratings restated a “hold (c)” rating on shares of Manhattan Associates in a report on Thursday. Finally, Truist Financial set a $240.00 target price on Manhattan Associates in a research note on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $219.58.

Hedge Funds Weigh In On Manhattan Associates

Hedge funds and other institutional investors have recently modified their holdings of the business. Lazard Asset Management LLC raised its stake in Manhattan Associates by 76.4% in the third quarter. Lazard Asset Management LLC now owns 707,742 shares of the software maker’s stock worth $145,073,000 after buying an additional 306,516 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in shares of Manhattan Associates in the 2nd quarter valued at $49,204,000. AQR Capital Management LLC increased its holdings in shares of Manhattan Associates by 7.7% in the 3rd quarter. AQR Capital Management LLC now owns 2,077,132 shares of the software maker’s stock valued at $425,771,000 after acquiring an additional 149,079 shares during the period. UBS Group AG raised its position in shares of Manhattan Associates by 45.3% in the 3rd quarter. UBS Group AG now owns 330,488 shares of the software maker’s stock worth $67,743,000 after acquiring an additional 103,091 shares in the last quarter. Finally, Man Group plc lifted its stake in shares of Manhattan Associates by 126.1% during the 2nd quarter. Man Group plc now owns 149,631 shares of the software maker’s stock worth $29,548,000 after purchasing an additional 83,445 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

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.