Manhattan Associates (NASDAQ:MANH) Shares Gap Down to $230.63

Manhattan Associates, Inc. (NASDAQ:MANH)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $230.63, but opened at $208.49. Manhattan Associates shares last traded at $210.46, with a volume of 216,900 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Citigroup assumed coverage on Manhattan Associates in a research note on Wednesday, March 13th. They set a “neutral” rating and a $260.00 price objective on the stock. Rosenblatt Securities restated a “neutral” rating and set a $225.00 price objective on shares of Manhattan Associates in a research note on Wednesday. Raymond James raised their price objective on Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Finally, Truist Financial raised their price objective on Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $231.29.

Manhattan Associates Trading Down 9.3 %

The firm has a fifty day moving average of $245.97 and a two-hundred day moving average of $227.06. The company has a market cap of $12.87 billion, a PE ratio of 74.81 and a beta of 1.44.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.23. Manhattan Associates had a return on equity of 84.08% and a net margin of 19.01%. The company had revenue of $238.26 million during the quarter, compared to analyst estimates of $223.99 million. Sell-side analysts expect that Manhattan Associates, Inc. will post 2.78 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of Manhattan Associates

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