Manhattan Associates (NASDAQ:MANH) Shares Gap Down – Should You Sell?

Shares of Manhattan Associates, Inc. (NASDAQ:MANH) gapped down before the market opened on Wednesday . The stock had previously closed at $292.32, but opened at $280.00. Manhattan Associates shares last traded at $268.98, with a volume of 145,894 shares changing hands.

Wall Street Analysts Forecast Growth

MANH has been the topic of a number of analyst reports. Raymond James raised their price objective on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research note on Wednesday. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Loop Capital increased their target price on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Robert W. Baird lifted their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Citigroup lifted their target price on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $282.63.

Manhattan Associates Price Performance

The company has a market cap of $16.68 billion, a PE ratio of 87.82 and a beta of 1.50. The company’s 50 day simple moving average is $273.75 and its two-hundred day simple moving average is $246.41.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results 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 net margin of 20.54% and a return on equity of 84.54%. The company had revenue of $266.70 million for the quarter, compared to analyst estimates of $262.90 million. During the same period in the prior year, the firm earned $0.79 earnings per share. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. Sell-side analysts expect that Manhattan Associates, Inc. will post 3.01 EPS for the current fiscal year.

Insider Buying and Selling at Manhattan Associates

In related news, EVP James Stewart Gantt sold 6,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 46,287 shares in the company, valued at $11,872,615.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Manhattan Associates

Several large investors have recently bought and sold shares of MANH. GAMMA Investing LLC lifted its holdings in shares of Manhattan Associates by 47.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,186 shares of the software maker’s stock valued at $334,000 after purchasing an additional 382 shares during the last quarter. Boston Trust Walden Corp lifted its stake in Manhattan Associates by 3.3% in the second quarter. Boston Trust Walden Corp now owns 109,542 shares of the software maker’s stock valued at $27,022,000 after buying an additional 3,525 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Manhattan Associates in the first quarter valued at approximately $2,407,000. SG Americas Securities LLC grew its position in shares of Manhattan Associates by 399.7% during the first quarter. SG Americas Securities LLC now owns 13,417 shares of the software maker’s stock worth $3,357,000 after acquiring an additional 10,732 shares during the last quarter. Finally, M&G Plc increased its holdings in shares of Manhattan Associates by 2.1% in the 2nd quarter. M&G Plc now owns 316,243 shares of the software maker’s stock valued at $78,112,000 after acquiring an additional 6,511 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

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.