Manhattan Associates (NASDAQ:MANH) Price Target Raised to $257.00 at Citigroup

Manhattan Associates (NASDAQ:MANH) had its target price lifted by stock analysts at Citigroup from $220.00 to $257.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the software maker’s stock. Citigroup’s target price would indicate a potential upside of 4.18% from the stock’s previous close.

MANH has been the topic of several other reports. Redburn Atlantic assumed coverage on shares of Manhattan Associates in a research note on Tuesday, May 14th. They issued a “buy” rating and a $260.00 price objective on the stock. DA Davidson increased their price objective on Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, May 27th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $225.00 target price on shares of Manhattan Associates in a research report on Wednesday, April 24th. Finally, William Blair reiterated a “market perform” rating on shares of Manhattan Associates in a report on Wednesday, April 24th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $245.13.

Manhattan Associates Price Performance

Shares of NASDAQ MANH traded down $4.53 during mid-day trading on Friday, reaching $246.68. 1,075,626 shares of the company traded hands, compared to its average volume of 401,059. The firm has a market cap of $15.19 billion, a PE ratio of 80.98 and a beta of 1.48. Manhattan Associates has a fifty-two week low of $182.97 and a fifty-two week high of $266.94. The stock has a fifty day simple moving average of $223.32 and a 200-day simple moving average of $230.81.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, April 23rd. The software maker reported $0.86 EPS for the quarter, beating the consensus estimate of $0.63 by $0.23. The business had revenue of $254.55 million during the quarter, compared to analyst estimates of $243.32 million. Manhattan Associates had a net margin of 19.91% and a return on equity of 85.28%. As a group, analysts predict that Manhattan Associates will post 2.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MANH. LPL Financial LLC increased its position in shares of Manhattan Associates by 82.8% during the third quarter. LPL Financial LLC now owns 32,881 shares of the software maker’s stock valued at $6,510,000 after purchasing an additional 14,892 shares during the period. Mariner LLC increased its position in shares of Manhattan Associates by 5.2% during the third quarter. Mariner LLC now owns 7,103 shares of the software maker’s stock valued at $1,404,000 after purchasing an additional 349 shares during the period. O Shaughnessy Asset Management LLC increased its position in shares of Manhattan Associates by 295.3% during the third quarter. O Shaughnessy Asset Management LLC now owns 13,426 shares of the software maker’s stock valued at $2,654,000 after purchasing an additional 10,030 shares during the period. Treasurer of the State of North Carolina increased its position in shares of Manhattan Associates by 0.4% during the third quarter. Treasurer of the State of North Carolina now owns 28,710 shares of the software maker’s stock valued at $5,675,000 after purchasing an additional 103 shares during the period. Finally, Toronto Dominion Bank increased its position in shares of Manhattan Associates by 144.2% during the third quarter. Toronto Dominion Bank now owns 13,246 shares of the software maker’s stock valued at $2,618,000 after purchasing an additional 7,822 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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.