Rosenblatt Securities Reaffirms “Neutral” Rating for Manhattan Associates (NASDAQ:MANH)

Rosenblatt Securities reaffirmed their neutral rating on shares of Manhattan Associates (NASDAQ:MANH) in a report issued on Wednesday, Benzinga reports. They currently have a $225.00 target price on the software maker’s stock.

Other analysts have also recently issued reports about the company. Raymond James upped their target price on Manhattan Associates from $214.00 to $250.00 and gave the company an outperform rating in a report on Wednesday, January 31st. Truist Financial upped their target price on Manhattan Associates from $240.00 to $260.00 and gave the company a buy rating in a report on Wednesday, January 31st. Finally, Citigroup assumed coverage on Manhattan Associates in a report on Wednesday, March 13th. They issued a neutral rating and a $260.00 target price for the company. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Manhattan Associates presently has an average rating of Moderate Buy and an average price target of $234.86.

Manhattan Associates Stock Performance

Shares of MANH opened at $209.02 on Wednesday. Manhattan Associates has a one year low of $164.55 and a one year high of $266.94. The stock has a market capitalization of $12.87 billion, a price-to-earnings ratio of 68.31 and a beta of 1.44. The stock has a 50 day moving average price of $243.64 and a 200 day moving average price of $226.91.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.55 by $0.23. Manhattan Associates had a return on equity of 85.28% and a net margin of 19.91%. The firm had revenue of $238.26 million during the quarter, compared to analysts’ expectations of $223.99 million. On average, analysts predict that Manhattan Associates will post 2.72 earnings per share for the current year.

Insider Activity

In other 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 value of $2,699,513.81. Following the completion of the transaction, the chief executive officer now owns 242,153 shares in the company, valued at approximately $59,988,562.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other 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 value of $2,699,513.81. Following the completion of the transaction, the chief executive officer now owns 242,153 shares in the company, valued at approximately $59,988,562.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James Stewart Gantt sold 680 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total value of $169,211.20. Following the sale, the executive vice president now directly owns 57,093 shares in the company, valued at approximately $14,207,022.12. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its position in Manhattan Associates by 2.1% during the third quarter. FMR LLC now owns 1,628,850 shares of the software maker’s stock worth $321,958,000 after buying an additional 33,549 shares during the period. Morgan Stanley increased its position in Manhattan Associates by 0.9% during the third quarter. Morgan Stanley now owns 1,522,444 shares of the software maker’s stock worth $300,927,000 after buying an additional 13,303 shares during the period. Franklin Resources Inc. increased its holdings in shares of Manhattan Associates by 16.8% in the fourth 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 period. Norges Bank acquired a new position in shares of Manhattan Associates in the fourth quarter valued at approximately $146,984,000. Finally, Northern Trust Corp increased its holdings in shares of Manhattan Associates by 10.5% in the third quarter. Northern Trust Corp now owns 645,187 shares of the software maker’s stock valued at $127,528,000 after purchasing an additional 61,437 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.