Piper Sandler Begins Coverage on Manhattan Associates (NASDAQ:MANH)

Piper Sandler assumed coverage on shares of Manhattan Associates (NASDAQ:MANH) in a research report sent to investors on Monday morning, MarketBeat Ratings reports. The firm issued an overweight rating and a $326.00 target price on the software maker’s stock.

Several other brokerages also recently issued reports on MANH. Truist Financial raised their price objective on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Loop Capital raised their price target on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Raymond James upped their price objective on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Robert W. Baird lifted their target price on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Finally, Citigroup boosted their target price on shares of Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $290.78.

Manhattan Associates Stock Performance

NASDAQ:MANH opened at $287.68 on Monday. The firm has a market capitalization of $17.57 billion, a PE ratio of 80.91 and a beta of 1.52. The stock’s fifty day moving average is $281.65 and its 200 day moving average is $255.91. Manhattan Associates has a fifty-two week low of $199.23 and a fifty-two week high of $307.50.

Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.29. The business had revenue of $266.70 million for the quarter, compared to the consensus estimate of $262.90 million. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.79 earnings per share. Equities analysts forecast that Manhattan Associates will post 3.4 EPS for the current year.

Hedge Funds Weigh In On Manhattan Associates

Institutional investors have recently made changes to their positions in the company. Fidelis Capital Partners LLC increased its holdings in Manhattan Associates by 3.2% during the third quarter. Fidelis Capital Partners LLC now owns 1,279 shares of the software maker’s stock valued at $347,000 after buying an additional 40 shares during the period. Ascent Group LLC increased its holdings in shares of Manhattan Associates by 4.8% in the 3rd quarter. Ascent Group LLC now owns 896 shares of the software maker’s stock valued at $252,000 after acquiring an additional 41 shares during the period. UMB Bank n.a. raised its position in shares of Manhattan Associates by 16.7% in the 3rd quarter. UMB Bank n.a. now owns 301 shares of the software maker’s stock worth $85,000 after acquiring an additional 43 shares in the last quarter. SkyView Investment Advisors LLC lifted its stake in shares of Manhattan Associates by 0.9% during the 2nd quarter. SkyView Investment Advisors LLC now owns 5,018 shares of the software maker’s stock worth $1,238,000 after purchasing an additional 46 shares during the last quarter. Finally, Huntington National Bank lifted its stake in shares of Manhattan Associates by 5.9% during the 3rd quarter. Huntington National Bank now owns 879 shares of the software maker’s stock worth $247,000 after purchasing an additional 49 shares during the last quarter. 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.