Manhattan Associates (NASDAQ:MANH) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Manhattan Associates (NASDAQ:MANH) from a hold rating to a buy rating in a research note issued to investors on Wednesday.

MANH has been the topic of a number of other research reports. DA Davidson boosted their price objective on Manhattan Associates from $260.00 to $285.00 and gave the stock a buy rating in a research note on Wednesday. Loop Capital boosted their price objective on Manhattan Associates from $250.00 to $265.00 and gave the stock a buy rating in a research note on Wednesday. William Blair restated a market perform rating on shares of Manhattan Associates in a research note on Wednesday, April 24th. Rosenblatt Securities restated a neutral rating and set a $225.00 price objective on shares of Manhattan Associates in a research note on Wednesday, April 24th. Finally, Redburn Atlantic assumed coverage on Manhattan Associates in a research note on Tuesday, May 14th. They set a buy rating and a $260.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $257.43.

Manhattan Associates Trading Up 4.7 %

Shares of Manhattan Associates stock opened at $258.46 on Wednesday. Manhattan Associates has a twelve month low of $182.97 and a twelve month high of $266.94. The stock has a market capitalization of $15.91 billion, a P/E ratio of 84.46 and a beta of 1.50. The business’s fifty day moving average price is $233.36 and its 200 day moving average price is $234.46.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, July 23rd. The software maker reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.22. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The firm had revenue of $265.30 million for the quarter, compared to analysts’ expectations of $255.83 million. During the same quarter last year, the firm earned $0.63 earnings per share. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, sell-side analysts predict that Manhattan Associates will post 3.04 EPS for the current year.

Institutional Trading of Manhattan Associates

Hedge funds and other institutional investors have recently modified their holdings of the business. CenterBook Partners LP purchased a new stake in shares of Manhattan Associates during the fourth quarter worth about $761,000. Russell Investments Group Ltd. increased its holdings in Manhattan Associates by 9.1% in the fourth quarter. Russell Investments Group Ltd. now owns 59,852 shares of the software maker’s stock valued at $12,923,000 after buying an additional 4,986 shares during the last quarter. Highland Capital Management LLC bought a new stake in Manhattan Associates in the fourth quarter valued at about $1,142,000. Nomura Asset Management Co. Ltd. increased its holdings in Manhattan Associates by 82.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 26,894 shares of the software maker’s stock valued at $5,791,000 after buying an additional 12,124 shares during the last quarter. Finally, Vinva Investment Management Ltd increased its holdings in Manhattan Associates by 69.5% in the fourth quarter. Vinva Investment Management Ltd now owns 39,571 shares of the software maker’s stock valued at $8,570,000 after buying an additional 16,229 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other 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.