Manhattan Associates (NASDAQ:MANH) Given New $287.00 Price Target at Citigroup

Manhattan Associates (NASDAQ:MANH) had its target price increased by Citigroup from $257.00 to $287.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the software maker’s stock.

A number of other brokerages have also commented on MANH. DA Davidson boosted their price objective on shares of Manhattan Associates from $260.00 to $285.00 and gave the stock a buy rating in a research report on Wednesday, July 24th. StockNews.com cut shares of Manhattan Associates from a buy rating to a hold rating in a research note on Thursday, August 1st. Finally, Loop Capital upped their price target on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a buy rating in a research report on Monday, September 16th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $264.57.

Manhattan Associates Stock Down 1.3 %

Shares of NASDAQ:MANH opened at $280.25 on Wednesday. The firm has a market cap of $17.25 billion, a price-to-earnings ratio of 91.58 and a beta of 1.50. Manhattan Associates has a 12 month low of $182.97 and a 12 month high of $287.63. The company’s fifty day simple moving average is $258.44 and its 200 day simple moving average is $241.32.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, July 23rd. The software maker reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.22. The company had revenue of $265.30 million for the quarter, compared to analyst estimates of $255.83 million. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. During the same period in the previous year, the company posted $0.63 earnings per share. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. Research analysts expect that Manhattan Associates will post 3.01 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP James Stewart Gantt sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the transaction, the executive vice president now directly owns 46,287 shares of the company’s stock, valued at $11,872,615.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Manhattan Associates

Institutional investors and hedge funds have recently bought and sold shares of the company. Tobam acquired a new position in shares of Manhattan Associates during the 1st quarter worth $25,000. Innealta Capital LLC acquired a new stake in shares of Manhattan Associates in the 2nd quarter valued at approximately $26,000. Benjamin Edwards Inc. bought a new stake in shares of Manhattan Associates during the 1st quarter valued at approximately $27,000. International Assets Investment Management LLC acquired a new position in Manhattan Associates during the 2nd quarter worth approximately $27,000. Finally, Contravisory Investment Management Inc. bought a new position in Manhattan Associates in the 1st quarter valued at approximately $31,000. Institutional investors 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.