Manhattan Associates, Inc. (NASDAQ:MANH) Receives $292.89 Consensus Target Price from Analysts

Manhattan Associates, Inc. (NASDAQ:MANH) has been assigned an average recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $292.89.

MANH has been the subject of a number of research reports. Truist Financial lifted their price objective on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a report on Friday, October 11th. Citigroup upped their price objective on Manhattan Associates from $287.00 to $306.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Loop Capital lifted their target price on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a report on Monday, September 16th. Robert W. Baird upped their price target on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Finally, DA Davidson lifted their price objective on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd.

Manhattan Associates Stock Down 0.0 %

NASDAQ:MANH opened at $265.33 on Tuesday. Manhattan Associates has a 52 week low of $205.12 and a 52 week high of $312.60. The stock’s fifty day moving average is $282.66 and its two-hundred day moving average is $269.51. The stock has a market capitalization of $16.21 billion, a price-to-earnings ratio of 75.38 and a beta of 1.52.

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

Insiders Place Their Bets

In related news, SVP Bruce Richards sold 4,150 shares of the stock in a transaction on 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 sale, the senior vice president now owns 22,086 shares in the company, valued at $6,398,976.78. This represents a 15.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates 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 transaction, the executive vice president now owns 42,812 shares in the company, valued at approximately $12,334,137.20. This represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Manhattan Associates

Hedge funds have recently made changes to their positions in the business. State Street Corp raised its stake in Manhattan Associates by 0.6% during the 3rd quarter. State Street Corp now owns 2,203,139 shares of the software maker’s stock valued at $619,918,000 after acquiring an additional 12,787 shares during the last quarter. FMR LLC raised its stake in shares of Manhattan Associates by 7.3% during the third quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock worth $539,521,000 after purchasing an additional 130,817 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Manhattan Associates by 5.8% during the third quarter. Geode Capital Management LLC now owns 1,514,941 shares of the software maker’s stock worth $426,308,000 after purchasing an additional 82,995 shares during the period. JPMorgan Chase & Co. grew its position in Manhattan Associates by 213.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock valued at $284,169,000 after buying an additional 687,933 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in Manhattan Associates in the 3rd quarter valued at $234,249,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

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.