Brokerages Set Manhattan Associates, Inc. (NASDAQ:MANH) Price Target at $264.57

Shares of Manhattan Associates, Inc. (NASDAQ:MANH) have been given an average recommendation of “Moderate Buy” by the eight research firms that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $264.57.

Several research firms have weighed in on MANH. Loop Capital upped 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. Citigroup increased their price objective on Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, DA Davidson raised their price target on Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th.

Manhattan Associates Trading Up 1.9 %

Shares of MANH stock opened at $282.41 on Friday. The company has a market capitalization of $17.39 billion, a price-to-earnings ratio of 92.29 and a beta of 1.50. Manhattan Associates has a 1-year low of $182.97 and a 1-year high of $287.63. The stock’s fifty day simple moving average is $262.18 and its 200-day simple moving average is $242.40.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, July 23rd. The software maker reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.22. The firm had revenue of $265.30 million during the quarter, compared to analyst estimates of $255.83 million. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period last year, the company posted $0.63 EPS. On average, sell-side analysts predict that Manhattan Associates will post 3.01 EPS for the current year.

Insiders Place Their Bets

In other news, EVP James Stewart Gantt sold 6,000 shares of the stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the transaction, the executive vice president now owns 46,287 shares of the company’s stock, valued at approximately $11,872,615.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.72% of the company’s stock.

Institutional Trading of Manhattan Associates

Large investors have recently modified their holdings of the company. Tobam bought a new position in Manhattan Associates in the 1st quarter worth $25,000. Innealta Capital LLC acquired a new stake in shares of Manhattan Associates in the second quarter valued at about $26,000. Benjamin Edwards Inc. bought a new position in shares of Manhattan Associates in the first quarter worth about $27,000. International Assets Investment Management LLC acquired a new position in shares of Manhattan Associates during the 2nd quarter worth about $27,000. Finally, Contravisory Investment Management Inc. bought a new stake in Manhattan Associates during the 1st quarter valued at approximately $31,000. 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.