Manhattan Associates (NASDAQ:MANH) Rating Lowered to “Neutral” at DA Davidson

Manhattan Associates (NASDAQ:MANH) was downgraded by stock analysts at DA Davidson from a “buy” rating to a “neutral” rating in a research report issued on Monday, MarketBeat reports. They presently have a $210.00 target price on the software maker’s stock. DA Davidson’s price target indicates a potential upside of 4.94% from the stock’s previous close.

MANH has been the topic of several other reports. Morgan Stanley set a $180.00 price objective on shares of Manhattan Associates in a research report on Wednesday, July 29th. Wall Street Zen lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Barclays raised their price objective on shares of Manhattan Associates from $201.00 to $239.00 and gave the company an “overweight” rating in a research report on Tuesday, September 8th. Robert W. Baird increased their target price on Manhattan Associates from $218.00 to $260.00 and gave the company an “outperform” rating in a research note on Wednesday, August 26th. Finally, Stifel Nicolaus lifted their price target on Manhattan Associates from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $214.20.

Manhattan Associates Stock Performance

NASDAQ:MANH opened at $200.11 on Monday. Manhattan Associates has a 52-week low of $119.06 and a 52-week high of $227.03. The stock has a fifty day moving average of $200.82 and a 200 day moving average of $161.71. The firm has a market capitalization of $11.67 billion, a price-to-earnings ratio of 57.34 and a beta of 0.95.

Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.07. The business had revenue of $297.79 million for the quarter, compared to analyst estimates of $289.03 million. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.31 EPS. Equities analysts forecast that Manhattan Associates will post 3.87 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Eric Clark sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total value of $593,280.00. Following the completion of the sale, the chief executive officer owned 89,638 shares of the company’s stock, valued at approximately $17,726,810.88. The trade was a 3.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP James Gantt sold 5,139 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $195.53, for a total value 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. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Manhattan Associates

Large investors have recently bought and sold shares of the stock. Allworth Financial LP raised its position in Manhattan Associates by 3.1% during the 2nd quarter. Allworth Financial LP now owns 2,587 shares of the software maker’s stock valued at $360,000 after purchasing an additional 77 shares during the last quarter. V Square Quantitative Management LLC grew its position in shares of Manhattan Associates by 35.9% in the 1st quarter. V Square Quantitative Management LLC now owns 348 shares of the software maker’s stock worth $46,000 after buying an additional 92 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Manhattan Associates by 1.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 12,202 shares of the software maker’s stock valued at $1,624,000 after buying an additional 158 shares during the period. Parallel Advisors LLC raised its holdings in shares of Manhattan Associates by 21.6% during the first quarter. Parallel Advisors LLC now owns 907 shares of the software maker’s stock valued at $121,000 after acquiring an additional 161 shares in the last quarter. Finally, Wesbanco Bank Inc. raised its holdings in shares of Manhattan Associates by 10.4% during the first quarter. Wesbanco Bank Inc. now owns 2,131 shares of the software maker’s stock valued at $284,000 after acquiring an additional 200 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

About Manhattan Associates

Manhattan Associates, Inc develops cloud-based software designed to help businesses manage supply chains, inventory, warehouse operations, transportation, and omnichannel commerce. Its solutions are used by retailers, wholesalers, manufacturers, distributors, logistics providers, and other organizations seeking to coordinate products, orders, labor, and fulfillment activities.

The company’s product portfolio includes Manhattan Active Warehouse Management, Manhattan Active Transportation Management, Manhattan Active Order Management, and related tools for inventory optimization, workforce management, customer engagement, and point-of-sale operations.