Manhattan Associates, Inc. (NASDAQ:MANH) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Manhattan Associates, Inc. (NASDAQ:MANH) have been assigned an average rating of “Moderate Buy” from the ten research firms that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $292.89.

Several equities analysts recently issued reports on the company. Loop Capital upped their target price on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Truist Financial increased their price objective on Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a report on Friday, October 11th. Raymond James lifted their target price on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Citigroup increased their price target on shares of Manhattan Associates from $287.00 to $306.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Finally, StockNews.com upgraded shares of Manhattan Associates from a “hold” rating to a “buy” rating in a research note on Friday, January 3rd.

Manhattan Associates Price Performance

Shares of NASDAQ:MANH opened at $265.38 on Tuesday. Manhattan Associates has a 1 year low of $205.12 and a 1 year high of $312.60. The firm has a market capitalization of $16.21 billion, a P/E ratio of 75.39 and a beta of 1.52. The business’s 50-day moving average is $282.69 and its 200 day moving average is $269.22.

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

Insider Activity at Manhattan Associates

In related 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 owns 22,086 shares of the company’s stock, valued at approximately $6,398,976.78. This trade represents a 15.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now owns 42,812 shares of the company’s stock, valued at $12,334,137.20. This 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 company insiders.

Institutional Trading of Manhattan Associates

A number of institutional investors and hedge funds have recently modified their holdings of MANH. Ashton Thomas Private Wealth LLC acquired a new position in shares of Manhattan Associates during the second quarter valued at approximately $31,000. Capital Performance Advisors LLP acquired a new position in Manhattan Associates in the 3rd quarter valued at $34,000. Ashton Thomas Securities LLC acquired a new stake in Manhattan Associates during the 3rd quarter worth $42,000. Carolina Wealth Advisors LLC purchased a new stake in shares of Manhattan Associates during the third quarter worth $50,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Manhattan Associates in the third quarter valued at about $58,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

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.