Manhattan Associates (NASDAQ:MANH) Downgraded by DA Davidson to “Neutral”

DA Davidson downgraded shares of Manhattan Associates (NASDAQ:MANH) from a buy rating to a neutral rating in a report released on Monday, MarketBeat reports. DA Davidson currently has $210.00 target price on the software maker’s stock.

A number of other equities research analysts have also issued reports on the stock. Weiss Ratings raised shares of Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 14th. Wall Street Zen downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Barclays boosted their target price on shares of Manhattan Associates from $201.00 to $239.00 and gave the company an “overweight” rating in a report on Tuesday, September 8th. UBS Group set a $210.00 price target on shares of Manhattan Associates in a research note on Monday. Finally, Robert W. Baird raised their price target on shares of Manhattan Associates from $218.00 to $260.00 and gave the stock an “outperform” rating in a report on Wednesday, August 26th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Manhattan Associates has an average rating of “Moderate Buy” and a consensus price target of $214.20.

Manhattan Associates Stock Performance

NASDAQ MANH opened at $201.88 on Monday. The stock’s fifty day moving average is $200.00 and its two-hundred day moving average is $161.31. The firm has a market capitalization of $11.77 billion, a P/E ratio of 57.85 and a beta of 0.95. Manhattan Associates has a fifty-two week low of $119.06 and a fifty-two week high of $227.03.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.07. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.The business had revenue of $297.79 million during the quarter, compared to the consensus estimate of $289.03 million. During the same period last year, the company earned $1.31 EPS. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, sell-side analysts forecast that Manhattan Associates will post 3.87 EPS for the current year.

Insider Transactions at Manhattan Associates

In related news, EVP James Gantt sold 5,139 shares of the firm’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the completion of the sale, the executive vice president directly owned 55,676 shares of the company’s stock, valued at approximately $10,886,328.28. This trade represents a 8.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eric Clark sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total transaction of $593,280.00. Following the completion of the sale, the chief executive officer owned 89,638 shares in the company, valued at approximately $17,726,810.88. This trade represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.84% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Manhattan Associates

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of Manhattan Associates in the 2nd quarter worth approximately $944,285,000. T. Rowe Price Investment Management Inc. increased its holdings in Manhattan Associates by 35.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,580,241 shares of the software maker’s stock valued at $447,182,000 after purchasing an additional 671,589 shares during the last quarter. Geode Capital Management LLC raised its position in Manhattan Associates by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 1,753,909 shares of the software maker’s stock valued at $305,199,000 after purchasing an additional 88,005 shares during the period. Swedbank AB raised its position in Manhattan Associates by 25.0% in the first quarter. Swedbank AB now owns 1,500,000 shares of the software maker’s stock valued at $199,680,000 after purchasing an additional 300,000 shares during the period. Finally, TD Asset Management Inc raised its position in Manhattan Associates by 37.2% in the fourth quarter. TD Asset Management Inc now owns 730,815 shares of the software maker’s stock valued at $126,658,000 after purchasing an additional 198,228 shares during the period. 98.45% of the stock is owned by hedge funds and other institutional investors.

About Manhattan Associates

Manhattan Associates, Inc is a technology company that develops cloud-based software for supply chain, inventory, and omnichannel commerce operations. Its solutions help businesses manage the movement of goods from suppliers and distribution centers to stores and customers, while improving visibility, efficiency, and service.

The company’s product portfolio includes Manhattan Active Warehouse Management, Manhattan Active Transportation Management, Manhattan Active Order Management, supply chain planning, inventory optimization, labor management, and customer engagement applications.