Manhattan Associates (NASDAQ:MANH) Earns Neutral Rating from Rosenblatt Securities

Manhattan Associates (NASDAQ:MANH)‘s stock had its “neutral” rating reissued by Rosenblatt Securities in a report issued on Wednesday, Benzinga reports. They currently have a $225.00 price target on the software maker’s stock. Rosenblatt Securities’ target price points to a potential downside of 2.44% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. Raymond James boosted their target price on shares of Manhattan Associates from $214.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Truist Financial boosted their price target on shares of Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Finally, Citigroup began coverage on shares of Manhattan Associates in a report on Wednesday, March 13th. They set a “neutral” rating and a $260.00 price target on the stock. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Manhattan Associates has a consensus rating of “Moderate Buy” and a consensus target price of $231.29.

Manhattan Associates Trading Up 1.0 %

MANH opened at $230.63 on Wednesday. Manhattan Associates has a 1-year low of $152.32 and a 1-year high of $266.94. The company has a market cap of $14.20 billion, a P/E ratio of 81.78 and a beta of 1.44. The company has a fifty day moving average price of $245.97 and a two-hundred day moving average price of $227.06.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.55 by $0.23. The company had revenue of $238.26 million during the quarter, compared to the consensus estimate of $223.99 million. Manhattan Associates had a net margin of 19.01% and a return on equity of 84.08%. On average, research analysts forecast that Manhattan Associates will post 2.78 EPS for the current fiscal year.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 680 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total value of $169,211.20. Following the transaction, the executive vice president now directly owns 57,093 shares in the company, valued at $14,207,022.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP James Stewart Gantt sold 680 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total transaction of $169,211.20. Following the sale, the executive vice president now directly owns 57,093 shares in the company, valued at approximately $14,207,022.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eddie Capel sold 10,897 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the sale, the chief executive officer now owns 242,153 shares in the company, valued at $59,988,562.69. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Institutional Trading of Manhattan Associates

A number of institutional investors have recently modified their holdings of MANH. Norges Bank purchased a new stake in shares of Manhattan Associates during the 4th quarter valued at approximately $146,984,000. TD Asset Management Inc increased its holdings in shares of Manhattan Associates by 234.2% in the 4th quarter. TD Asset Management Inc now owns 549,308 shares of the software maker’s stock worth $118,277,000 after buying an additional 384,941 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of Manhattan Associates by 184.3% in the 3rd quarter. California Public Employees Retirement System now owns 352,665 shares of the software maker’s stock worth $69,708,000 after buying an additional 228,618 shares during the last quarter. Epoch Investment Partners Inc. increased its holdings in shares of Manhattan Associates by 110.6% in the 4th quarter. Epoch Investment Partners Inc. now owns 369,352 shares of the software maker’s stock worth $79,529,000 after buying an additional 193,951 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Manhattan Associates by 16.8% in the 4th quarter. Franklin Resources Inc. now owns 872,966 shares of the software maker’s stock worth $187,967,000 after buying an additional 125,541 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other 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.