Manhattan Associates (NASDAQ:MANH) Rating Reiterated by Rosenblatt Securities

Manhattan Associates (NASDAQ:MANH)‘s stock had its “neutral” rating reissued by Rosenblatt Securities in a report issued on Wednesday, Benzinga reports. They presently have a $225.00 target price on the software maker’s stock. Rosenblatt Securities’ price objective suggests a potential upside of 8.02% from the stock’s previous close.

MANH has been the topic of a number of other reports. Raymond James increased their price target on Manhattan Associates from $214.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Truist Financial increased their price target on Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Finally, Citigroup assumed coverage on Manhattan Associates in a report on Wednesday, March 13th. They issued a “neutral” rating and a $260.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Manhattan Associates currently has an average rating of “Moderate Buy” and an average target price of $234.86.

Manhattan Associates Stock Performance

Manhattan Associates stock opened at $208.30 on Wednesday. The stock has a market capitalization of $12.83 billion, a price-to-earnings ratio of 68.07 and a beta of 1.44. Manhattan Associates has a 52-week low of $163.43 and a 52-week high of $266.94. The stock’s 50 day moving average price is $245.12 and its two-hundred day moving average price is $226.92.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.23. The firm had revenue of $238.26 million for the quarter, compared to analysts’ expectations of $223.99 million. Manhattan Associates had a return on equity of 85.28% and a net margin of 19.91%. On average, equities research analysts forecast that Manhattan Associates will post 2.81 EPS for the current year.

Insider Buying and Selling

In related news, CEO Eddie Capel sold 10,897 shares of the stock in a transaction 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 directly owns 242,153 shares in the company, valued at approximately $59,988,562.69. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Manhattan Associates news, EVP James Stewart Gantt sold 680 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total transaction of $169,211.20. Following the transaction, the executive vice president now directly owns 57,093 shares in the company, valued at approximately $14,207,022.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Eddie Capel sold 10,897 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were 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 disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

Hedge Funds Weigh In On Manhattan Associates

Several large investors have recently bought and sold shares of the stock. Lindbrook Capital LLC lifted its stake in Manhattan Associates by 28.8% during the 4th quarter. Lindbrook Capital LLC now owns 206 shares of the software maker’s stock valued at $44,000 after acquiring an additional 46 shares in the last quarter. Accurate Wealth Management LLC boosted its holdings in shares of Manhattan Associates by 4.1% in the 1st quarter. Accurate Wealth Management LLC now owns 1,371 shares of the software maker’s stock worth $343,000 after buying an additional 54 shares during the last quarter. Capital Insight Partners LLC boosted its holdings in shares of Manhattan Associates by 0.4% in the 3rd quarter. Capital Insight Partners LLC now owns 15,161 shares of the software maker’s stock worth $2,997,000 after buying an additional 57 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Manhattan Associates by 4.7% in the 3rd quarter. Signaturefd LLC now owns 1,274 shares of the software maker’s stock worth $252,000 after buying an additional 57 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Manhattan Associates by 25.9% in the 4th quarter. UMB Bank n.a. now owns 282 shares of the software maker’s stock worth $61,000 after buying an additional 58 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

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.