Manhattan Associates (NASDAQ:MANH) Earns Neutral Rating from Rosenblatt Securities

Manhattan Associates (NASDAQ:MANH)‘s stock had its “neutral” rating reissued by equities research analysts at Rosenblatt Securities in a research report issued on Monday, Benzinga reports. They currently have a $225.00 target price on the software maker’s stock. Rosenblatt Securities’ target price points to a potential downside of 5.39% from the stock’s previous close.

MANH has been the topic of several other research reports. Truist Financial upped their price objective on Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Raymond James upped their price objective on Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Finally, Citigroup initiated coverage on Manhattan Associates in a report on Wednesday, March 13th. They issued a “neutral” rating and a $260.00 target price for the company. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.29.

Manhattan Associates Stock Performance

NASDAQ MANH opened at $237.81 on Monday. The company has a market cap of $14.64 billion, a P/E ratio of 84.33 and a beta of 1.44. The business’s 50 day moving average price is $248.48 and its 200-day moving average price is $225.58. Manhattan Associates has a fifty-two week low of $152.32 and a fifty-two week high of $266.94.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.23. The firm had revenue of $238.26 million for the quarter, compared to the consensus estimate of $223.99 million. Manhattan Associates had a return on equity of 84.08% and a net margin of 19.01%. As a group, equities analysts predict that Manhattan Associates will post 2.78 EPS for the current year.

Insider Activity

In other news, CEO Eddie Capel sold 10,897 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total value of $2,699,513.81. Following the transaction, the chief executive officer now directly owns 242,153 shares of the company’s stock, valued at $59,988,562.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Eddie Capel sold 10,897 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total value of $2,699,513.81. Following the transaction, the chief executive officer now owns 242,153 shares in the company, valued at $59,988,562.69. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP James Stewart Gantt sold 680 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total value of $169,211.20. Following the completion of the transaction, the executive vice president now owns 57,093 shares in the company, valued at approximately $14,207,022.12. The disclosure for this sale can be found here. Corporate insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Manhattan Associates

Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its position in Manhattan Associates by 259.4% during the fourth quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock worth $25,000 after buying an additional 83 shares in the last quarter. Bear Mountain Capital Inc. acquired a new stake in Manhattan Associates during the fourth quarter worth $26,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Manhattan Associates during the fourth quarter worth $26,000. Contravisory Investment Management Inc. acquired a new stake in Manhattan Associates during the first quarter worth $31,000. Finally, Eagle Bay Advisors LLC acquired a new stake in shares of Manhattan Associates in the second quarter valued at $36,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Company Profile

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.