Manhattan Associates (NASDAQ:MANH) Stock Crosses Above 200 Day Moving Average – Here’s Why

Manhattan Associates, Inc. (NASDAQ:MANH)’s stock price passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $163.47 and traded as high as $209.02. Manhattan Associates shares last traded at $205.45, with a volume of 622,422 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MANH shares. Wall Street Zen downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. DA Davidson downgraded Manhattan Associates from a “buy” rating to a “neutral” rating and set a $210.00 target price on the stock. in a research report on Monday, September 28th. Weiss Ratings raised Manhattan Associates from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday. Stifel Nicolaus upped their price objective on Manhattan Associates from $200.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Finally, Morgan Stanley set a $180.00 target price on Manhattan Associates in a report on Wednesday, July 29th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Manhattan Associates presently has a consensus rating of “Moderate Buy” and an average price target of $214.20.

Manhattan Associates Trading Down 0.4%

The stock has a market cap of $11.78 billion, a P/E ratio of 57.91 and a beta of 0.95. The stock has a 50 day simple moving average of $205.61 and a 200 day simple moving average of $163.92.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.07. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.The company had revenue of $297.79 million for the quarter, compared to analyst estimates of $289.03 million. During the same period in the prior year, the firm posted $1.31 EPS. Manhattan Associates’s quarterly revenue was up 9.3% on a year-over-year basis. Equities analysts anticipate that Manhattan Associates, Inc. will post 3.86 earnings per share for the current year.

Insider Buying and Selling at Manhattan Associates

In related news, CEO Eric Clark sold 3,000 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total transaction of $593,280.00. Following the sale, the chief executive officer directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP James Gantt sold 5,139 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the transaction, the executive vice president owned 55,676 shares of the company’s stock, valued at approximately $10,886,328.28. This represents a 8.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MANH. NBH Bank acquired a new stake in shares of Manhattan Associates during the 2nd quarter valued at $37,000. Versant Capital Management Inc raised its position in Manhattan Associates by 508.9% in the second quarter. Versant Capital Management Inc now owns 274 shares of the software maker’s stock valued at $38,000 after purchasing an additional 229 shares during the last quarter. V Square Quantitative Management LLC raised its position in Manhattan Associates by 35.9% in the first quarter. V Square Quantitative Management LLC now owns 348 shares of the software maker’s stock valued at $46,000 after purchasing an additional 92 shares during the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Manhattan Associates during the fourth quarter worth about $55,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in shares of Manhattan Associates in the second quarter valued at approximately $62,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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.