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

Manhattan Associates, Inc. (NASDAQ:MANH) has received a consensus rating of “Moderate Buy” from the ten analysts that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $290.78.

A number of brokerages have recently issued reports on MANH. Truist Financial boosted their price target on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Raymond James upped their price target on shares of Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Piper Sandler began coverage on Manhattan Associates in a report on Monday, November 25th. They set an “overweight” rating and a $326.00 price target for the company. Citigroup upped their target price on Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Finally, DA Davidson raised their target price on Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd.

Manhattan Associates Trading Up 3.0 %

Shares of MANH opened at $309.78 on Friday. The stock’s 50-day moving average price is $285.94 and its two-hundred day moving average price is $261.51. Manhattan Associates has a 12 month low of $199.23 and a 12 month high of $312.60. The company has a market capitalization of $18.92 billion, a PE ratio of 88.01 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $262.90 million. During the same period last year, the company earned $0.79 earnings per share. The firm’s revenue was up 11.9% compared to the same quarter last year. Equities research analysts predict that Manhattan Associates will post 3.39 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total value of $1,001,147.50. Following the sale, the executive vice president now 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 legal filing with the SEC, which is available at this link. Also, SVP Bruce Richards sold 4,150 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the completion of the transaction, 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 disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MANH. Innealta Capital LLC bought a new position in shares of Manhattan Associates during the 2nd quarter worth approximately $26,000. International Assets Investment Management LLC purchased a new position in Manhattan Associates in the second quarter worth $27,000. DT Investment Partners LLC bought a new position in Manhattan Associates in the 2nd quarter valued at $31,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Manhattan Associates during the 2nd quarter valued at $31,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Manhattan Associates during the 3rd quarter worth $34,000. 98.45% of the stock is owned by institutional investors.

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.