Manhattan Associates (NASDAQ:MANH) Rating Reiterated by William Blair

Manhattan Associates (NASDAQ:MANH)‘s stock had its “market perform” rating reissued by analysts at William Blair in a report released on Wednesday, Zacks.com reports.

A number of other analysts have also recently issued reports on the stock. Citigroup cut their target price on shares of Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday. Rosenblatt Securities restated a “neutral” rating and set a $225.00 target price on shares of Manhattan Associates in a research note on Wednesday. Raymond James raised their target price on shares of Manhattan Associates from $214.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Truist Financial raised their target price on shares of Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Finally, DA Davidson upgraded shares of Manhattan Associates from a “neutral” rating to a “buy” rating and raised their target price for the stock from $220.00 to $240.00 in a research note on Thursday. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $234.86.

Manhattan Associates Price Performance

Shares of MANH stock opened at $209.02 on Wednesday. The stock has a market cap of $12.87 billion, a P/E ratio of 68.31 and a beta of 1.44. The company has a fifty day moving average price of $244.34 and a two-hundred day moving average price of $226.79. Manhattan Associates has a one year low of $164.55 and a one year high of $266.94.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.23. The firm had revenue of $238.26 million during the quarter, compared to analysts’ expectations of $223.99 million. Manhattan Associates had a net margin of 19.91% and a return on equity of 85.28%. As a group, equities research analysts anticipate 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 dated Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the transaction, the chief executive officer now directly owns 242,153 shares of the company’s stock, valued at $59,988,562.69. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Manhattan Associates news, EVP James Stewart Gantt sold 680 shares of the firm’s 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Eddie Capel sold 10,897 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were 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 in the company, valued at $59,988,562.69. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Manhattan Associates

Several hedge funds have recently bought and sold shares of MANH. Norges Bank bought a new position in Manhattan Associates in the 4th quarter valued at about $146,984,000. TD Asset Management Inc increased its holdings in Manhattan Associates by 234.2% in the 4th quarter. TD Asset Management Inc now owns 549,308 shares of the software maker’s stock valued at $118,277,000 after buying an additional 384,941 shares during the period. California Public Employees Retirement System increased its holdings in Manhattan Associates by 184.3% in 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 buying an additional 228,618 shares during the period. Epoch Investment Partners Inc. increased its holdings in Manhattan Associates by 110.6% in the 4th quarter. Epoch Investment Partners Inc. now owns 369,352 shares of the software maker’s stock valued at $79,529,000 after buying an additional 193,951 shares during the period. Finally, Franklin Resources Inc. grew its holdings 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 purchasing an additional 125,541 shares during the last quarter. 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.