Manhattan Associates (NASDAQ:MANH) Stock Price Expected to Rise, Barclays Analyst Says

Manhattan Associates (NASDAQ:MANH) had its target price boosted by stock analysts at Barclays from $239.00 to $275.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the software maker’s stock. Barclays‘s price target suggests a potential upside of 8.18% from the company’s previous close.

Several other research firms also recently weighed in on MANH. Robert W. Baird boosted their target price on shares of Manhattan Associates from $218.00 to $260.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 26th. Weiss Ratings raised shares of Manhattan Associates from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 2nd. Truist Financial reiterated a “buy” rating and set a $305.00 price objective (up from $240.00) on shares of Manhattan Associates in a research note on Wednesday, October 28th. Wall Street Zen lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Morgan Stanley raised Manhattan Associates from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $180.00 to $250.00 in a research report on Monday, October 12th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $261.11.

Manhattan Associates Stock Performance

NASDAQ:MANH traded up $5.81 during mid-day trading on Monday, hitting $254.20. 435,935 shares of the company’s stock traded hands, compared to its average volume of 761,461. The company has a fifty day moving average of $216.59 and a 200 day moving average of $166.68. Manhattan Associates has a twelve month low of $119.06 and a twelve month high of $259.76. The company has a market capitalization of $14.82 billion, a P/E ratio of 71.31 and a beta of 0.85.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, October 27th. The software maker reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.09. Manhattan Associates had a return on equity of 98.67% and a net margin of 18.41%. The business had revenue of $306.19 million for the quarter, compared to analyst estimates of $297.01 million. During the same quarter in the previous year, the firm earned $1.36 earnings per share. The company’s revenue was up 11.0% on a year-over-year basis. On average, research analysts expect that Manhattan Associates will post 3.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Manhattan Associates news, CEO Eric Clark sold 3,000 shares of the firm’s 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 completion of the transaction, the chief executive officer directly owned 89,638 shares of the company’s stock, valued at approximately $17,726,810.88. This trade represents a 3.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.84% of the company’s stock.

Institutional Trading of Manhattan Associates

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in Manhattan Associates during the second quarter valued at $944,285,000. Swedbank AB raised its stake in shares of Manhattan Associates by 25.0% during the 1st quarter. Swedbank AB now owns 1,500,000 shares of the software maker’s stock valued at $199,680,000 after buying an additional 300,000 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Manhattan Associates by 0.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 711,615 shares of the software maker’s stock valued at $141,398,000 after buying an additional 3,658 shares during the period. William Blair Investment Management LLC acquired a new position in shares of Manhattan Associates in the 2nd quarter valued at about $94,049,000. Finally, Bessemer Group Inc. boosted its stake in shares of Manhattan Associates by 6.2% in the first quarter. Bessemer Group Inc. now owns 670,427 shares of the software maker’s stock worth $89,247,000 after buying an additional 39,125 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Company Profile

Manhattan Associates, Inc develops supply chain commerce software for retailers, wholesalers, manufacturers and logistics providers. Its solutions help organizations plan, execute and optimize inventory, warehouse, transportation and omnichannel fulfillment operations.

The company’s product portfolio includes warehouse management, transportation management, order management, inventory optimization, labor management and point-of-sale capabilities. Manhattan Associates also provides tools that support warehouse automation, store fulfillment, distributed order management and customer engagement across digital and physical retail channels.

Founded in 1990 and headquartered in Atlanta, Georgia, Manhattan Associates serves customers across North America, Europe, Asia-Pacific and other international markets.