Analysts Set Manhattan Associates, Inc. (NASDAQ:MANH) PT at $292.89

Shares of Manhattan Associates, Inc. (NASDAQ:MANH) have earned an average rating of “Moderate Buy” from the ten research firms that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $292.89.

MANH has been the subject of several recent analyst reports. Loop Capital boosted their price objective on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Robert W. Baird increased their price objective on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. StockNews.com upgraded Manhattan Associates from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd. Raymond James raised their price target on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, Piper Sandler started coverage on Manhattan Associates in a report on Monday, November 25th. They set an “overweight” rating and a $326.00 price objective for the company.

Manhattan Associates Trading Up 1.6 %

Manhattan Associates stock opened at $272.49 on Tuesday. The firm has a market capitalization of $16.64 billion, a price-to-earnings ratio of 77.41 and a beta of 1.52. The firm has a 50 day simple moving average of $282.67 and a 200 day simple moving average of $268.85. Manhattan Associates has a 1-year low of $199.84 and a 1-year high of $312.60.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.29. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The company had revenue of $266.70 million for the quarter, compared to analyst estimates of $262.90 million. During the same period in the previous year, the company posted $0.79 EPS. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, equities research analysts forecast that Manhattan Associates will post 3.39 EPS for the current year.

Insiders Place Their Bets

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

Institutional Trading of Manhattan Associates

Large investors have recently modified their holdings of the business. Victory Capital Management Inc. boosted its stake in shares of Manhattan Associates by 30.5% during the 2nd quarter. Victory Capital Management Inc. now owns 53,856 shares of the software maker’s stock valued at $13,285,000 after purchasing an additional 12,593 shares in the last quarter. MainStreet Investment Advisors LLC raised its position in shares of Manhattan Associates by 6.4% in the 2nd quarter. MainStreet Investment Advisors LLC now owns 2,459 shares of the software maker’s stock worth $607,000 after acquiring an additional 148 shares in the last quarter. Caprock Group LLC purchased a new position in shares of Manhattan Associates in the 2nd quarter valued at approximately $1,024,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Manhattan Associates during the 2nd quarter valued at $31,000. Finally, Choreo LLC grew its position in shares of Manhattan Associates by 35.8% in the 2nd quarter. Choreo LLC now owns 1,935 shares of the software maker’s stock worth $475,000 after buying an additional 510 shares during the period. 98.45% of the stock is owned by institutional investors.

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.