Manhattan Associates, Inc. (NASDAQ:MANH) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Manhattan Associates, Inc. (NASDAQ:MANH) have been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $292.89.

MANH has been the topic of a number of research 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 report on Monday, September 16th. Truist Financial boosted their target price 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. Robert W. Baird boosted their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. DA Davidson boosted their target price on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Citigroup boosted their target price on shares of Manhattan Associates from $287.00 to $306.00 and gave the stock a “neutral” rating in a research report on Monday.

Insider Transactions at Manhattan Associates

In other news, EVP James Stewart Gantt sold 3,475 shares of the business’s stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 42,812 shares in the company, valued at approximately $12,334,137.20. The trade was a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Bruce Richards sold 4,150 shares of the business’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 owns 22,086 shares of the company’s stock, valued at $6,398,976.78. The trade was a 15.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

Institutional Trading of Manhattan Associates

A number of hedge funds have recently bought and sold shares of MANH. Innealta Capital LLC bought a new stake in Manhattan Associates in the 2nd quarter valued at $26,000. International Assets Investment Management LLC bought a new stake in Manhattan Associates in the 2nd quarter valued at $27,000. DT Investment Partners LLC bought a new stake in Manhattan Associates in the 2nd quarter valued at $31,000. Ashton Thomas Private Wealth LLC bought a new stake in Manhattan Associates in the 2nd quarter valued at $31,000. Finally, Capital Performance Advisors LLP bought a new stake in Manhattan Associates in the 3rd quarter valued at $34,000. 98.45% of the stock is owned by institutional investors.

Manhattan Associates Stock Performance

Shares of MANH opened at $295.06 on Friday. The company’s 50 day moving average price is $286.83 and its 200 day moving average price is $263.67. Manhattan Associates has a 52 week low of $199.23 and a 52 week high of $312.60. The company has a market capitalization of $18.02 billion, a PE ratio of 83.82 and a beta of 1.50.

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

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.