Manhattan Associates (NASDAQ:MANH) Upgraded to “Buy” at DA Davidson

DA Davidson upgraded shares of Manhattan Associates (NASDAQ:MANH) from a neutral rating to a buy rating in a research report report published on Thursday morning, Marketbeat reports. DA Davidson currently has $240.00 target price on the software maker’s stock, up from their previous target price of $220.00. DA Davidson also issued estimates for Manhattan Associates’ Q2 2024 earnings at $0.70 EPS, FY2024 earnings at $2.90 EPS and FY2025 earnings at $3.60 EPS.

MANH has been the topic of a number of other research reports. Citigroup reduced their target price on Manhattan Associates from $260.00 to $220.00 and set a neutral rating on the stock in a report 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 report on Wednesday, January 31st. Rosenblatt Securities reissued a neutral rating and set a $225.00 price objective on shares of Manhattan Associates in a report on Wednesday. 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 report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $234.86.

Manhattan Associates Stock Performance

Shares of MANH stock opened at $208.30 on Thursday. The stock’s fifty day moving average price is $245.12 and its two-hundred day moving average price is $226.92. The company has a market cap of $12.83 billion, a PE ratio of 68.07 and a beta of 1.44. Manhattan Associates has a fifty-two week low of $163.43 and a fifty-two week high of $266.94.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.23. The firm had revenue of $238.26 million for the quarter, compared to the consensus estimate of $223.99 million. Manhattan Associates had a return on equity of 85.28% and a net margin of 19.91%. On average, equities analysts predict that Manhattan Associates will post 2.81 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Eddie Capel sold 10,897 shares of the firm’s stock in a transaction on 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 directly owns 242,153 shares of the company’s stock, valued at approximately $59,988,562.69. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Eddie Capel sold 10,897 shares of the firm’s stock in a transaction on 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 directly owns 242,153 shares of the company’s stock, valued at approximately $59,988,562.69. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP James Stewart Gantt sold 680 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was 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 $14,207,022.12. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Teachers Retirement System of The State of Kentucky raised its position in shares of Manhattan Associates by 59.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 21,612 shares of the software maker’s stock worth $4,271,000 after acquiring an additional 8,094 shares in the last quarter. Highland Capital Management LLC bought a new position in shares of Manhattan Associates in the 4th quarter worth about $1,142,000. Redhawk Wealth Advisors Inc. bought a new position in shares of Manhattan Associates in the 4th quarter worth about $1,050,000. Meeder Asset Management Inc. bought a new stake in Manhattan Associates in the 4th quarter valued at about $2,039,000. Finally, Louisiana State Employees Retirement System bought a new stake in Manhattan Associates in the 4th quarter valued at about $3,725,000. 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.