Manhattan Associates (NASDAQ:MANH) PT Raised to $304.00

Manhattan Associates (NASDAQ:MANH) had its price objective upped by equities researchers at Robert W. Baird from $263.00 to $304.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the software maker’s stock. Robert W. Baird’s price target points to a potential upside of 12.03% from the stock’s previous close.

A number of other research firms have also issued reports on MANH. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Truist Financial lifted their price target on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Loop Capital upped their price objective on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Citigroup lifted their target price on Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Finally, DA Davidson increased their price target on Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Manhattan Associates has an average rating of “Moderate Buy” and an average target price of $286.38.

Manhattan Associates Trading Down 7.2 %

Shares of MANH stock opened at $271.36 on Tuesday. The company has a market cap of $16.71 billion, a PE ratio of 88.68 and a beta of 1.50. The company’s fifty day simple moving average is $273.75 and its 200-day simple moving average is $246.41. Manhattan Associates has a 52 week low of $182.97 and a 52 week high of $307.50.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.29. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The company had revenue of $266.70 million for the quarter, compared to analysts’ expectations of $262.90 million. During the same quarter in the previous year, the firm posted $0.79 earnings per share. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. Equities research analysts expect that Manhattan Associates will post 3.01 EPS for the current fiscal year.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the transaction, the executive vice president now owns 46,287 shares of the company’s stock, valued at $11,872,615.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.72% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Manhattan Associates

Several institutional investors and hedge funds have recently made changes to their positions in the company. Tobam bought a new position in shares of Manhattan Associates in the 1st quarter worth about $25,000. Innealta Capital LLC acquired a new stake in Manhattan Associates in the second quarter worth $26,000. International Assets Investment Management LLC bought a new position in shares of Manhattan Associates during the second quarter worth about $27,000. DT Investment Partners LLC bought a new position in Manhattan Associates in the 2nd quarter worth about $31,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Manhattan Associates during the second quarter worth approximately $31,000. 98.45% of the stock is owned by institutional investors and hedge funds.

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.