Manhattan Associates (NASDAQ:MANH) Sets New 12-Month High – Here’s Why

Manhattan Associates, Inc. (NASDAQ:MANH)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $224.68 and last traded at $224.34, with a volume of 36820 shares trading hands. The stock had previously closed at $215.89.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Morgan Stanley set a $180.00 target price on Manhattan Associates in a research report on Wednesday, July 29th. Barclays reduced their price target on shares of Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating on the stock in a research note on Friday, May 29th. Stifel Nicolaus lifted their price target on shares of Manhattan Associates from $200.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Wall Street Zen cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Robert W. Baird increased their price objective on shares of Manhattan Associates from $218.00 to $260.00 and gave the company an “outperform” rating in a research note on Wednesday. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Manhattan Associates currently has an average rating of “Moderate Buy” and a consensus target price of $213.40.

Manhattan Associates Trading Down 0.2%

The company’s 50-day simple moving average is $173.96 and its 200-day simple moving average is $151.13. The stock has a market capitalization of $13.02 billion, a price-to-earnings ratio of 63.98 and a beta of 0.93.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.07. Manhattan Associates had a net margin of 18.67% and a return on equity of 86.72%. The company had revenue of $297.79 million for the quarter, compared to analyst estimates of $289.03 million. During the same quarter in the previous year, the business earned $1.31 earnings per share. Manhattan Associates’s revenue was up 9.3% compared to the same quarter last year. On average, equities research analysts expect that Manhattan Associates, Inc. will post 3.87 earnings per share for the current fiscal year.

Insider Activity

In other Manhattan Associates news, EVP James Stewart Gantt sold 5,139 shares of the company’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $195.53, for a total value of $1,004,828.67. Following the sale, the executive vice president owned 55,676 shares in the company, valued at approximately $10,886,328.28. The trade was a 8.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Eric Andrew Clark sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total value of $593,280.00. Following the completion of the sale, the chief executive officer owned 89,638 shares in the company, valued at $17,726,810.88. This trade represents a 3.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 9,139 shares of company stock worth $1,744,879 over the last ninety days. Company insiders own 0.84% of the company’s stock.

Institutional Trading of Manhattan Associates

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its position in shares of Manhattan Associates by 3.3% in the 2nd quarter. NewEdge Advisors LLC now owns 1,852 shares of the software maker’s stock worth $366,000 after purchasing an additional 59 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Manhattan Associates by 2.6% during the third quarter. Tower Research Capital LLC TRC now owns 2,708 shares of the software maker’s stock worth $555,000 after buying an additional 69 shares during the period. Covestor Ltd raised its stake in Manhattan Associates by 12.2% during the fourth quarter. Covestor Ltd now owns 670 shares of the software maker’s stock worth $116,000 after buying an additional 73 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in Manhattan Associates by 1.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 6,369 shares of the software maker’s stock worth $1,104,000 after buying an additional 80 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its holdings in Manhattan Associates by 35.9% in the first quarter. V Square Quantitative Management LLC now owns 348 shares of the software maker’s stock valued at $46,000 after buying an additional 92 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Company Profile

Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.