StockNews.com Downgrades Manhattan Associates (NASDAQ:MANH) to Hold

Manhattan Associates (NASDAQ:MANH) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Monday.

MANH has been the topic of a number of other research reports. DA Davidson increased their price target on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Piper Sandler began coverage on Manhattan Associates in a report on Monday, November 25th. They issued an “overweight” rating and a $326.00 price objective for the company. Citigroup raised their target price on Manhattan Associates from $287.00 to $306.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Loop Capital upped their price target on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Finally, Raymond James lifted their price objective on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $292.89.

Manhattan Associates Stock Down 0.0 %

MANH stock traded down $0.05 during midday trading on Monday, reaching $265.33. The stock had a trading volume of 277,232 shares, compared to its average volume of 299,347. The firm has a market cap of $16.21 billion, a price-to-earnings ratio of 75.38 and a beta of 1.52. Manhattan Associates has a twelve month low of $205.12 and a twelve month high of $312.60. The business has a fifty day simple moving average of $282.66 and a two-hundred day simple moving average of $269.51.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, topping the consensus estimate of $1.06 by $0.29. The company had revenue of $266.70 million during the quarter, compared to analysts’ expectations of $262.90 million. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. Manhattan Associates’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.79 EPS. On average, equities analysts predict that Manhattan Associates will post 3.39 earnings per share for the current fiscal year.

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, SVP Bruce Richards sold 4,150 shares of Manhattan Associates stock in a transaction on Friday, November 29th. The shares were sold at an average price of $289.73, for a total value of $1,202,379.50. Following the sale, the senior vice president now directly owns 22,086 shares in the company, valued at approximately $6,398,976.78. The trade was a 15.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James Stewart Gantt sold 3,475 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the sale, the executive vice president now directly owns 42,812 shares in the company, valued at $12,334,137.20. This trade represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Institutional Trading of Manhattan Associates

Several institutional investors and hedge funds have recently bought and sold shares of MANH. Massachusetts Financial Services Co. MA acquired a new position in shares of Manhattan Associates during the 3rd quarter worth approximately $234,249,000. JPMorgan Chase & Co. grew its stake in shares of Manhattan Associates by 213.7% in the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock valued at $284,169,000 after buying an additional 687,933 shares in the last quarter. Squarepoint Ops LLC increased its holdings in Manhattan Associates by 448.9% during the second quarter. Squarepoint Ops LLC now owns 160,649 shares of the software maker’s stock worth $39,629,000 after buying an additional 131,381 shares during the last quarter. FMR LLC raised its position in Manhattan Associates by 7.3% during the third quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock worth $539,521,000 after acquiring an additional 130,817 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Manhattan Associates by 118.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 173,644 shares of the software maker’s stock valued at $48,860,000 after acquiring an additional 94,283 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Company Profile

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.