Manhattan Associates (NASDAQ:MANH) Price Target Raised to $250.00

Manhattan Associates (NASDAQ:MANH) had its target price increased by Stifel Nicolaus from $225.00 to $250.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a buy rating on the software maker’s stock.

Other equities analysts have also recently issued reports about the company. Barclays increased their price target on Manhattan Associates from $201.00 to $239.00 and gave the company an “overweight” rating in a report on Tuesday, September 8th. Robert W. Baird lifted their price objective on Manhattan Associates from $218.00 to $260.00 and gave the stock an “outperform” rating in a report on Wednesday, August 26th. Wall Street Zen lowered Manhattan Associates from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Morgan Stanley upgraded Manhattan Associates from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $180.00 to $250.00 in a research report on Monday. Finally, Citigroup upped their price objective on Manhattan Associates from $177.00 to $193.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $223.70.

Manhattan Associates Stock Down 2.1%

Shares of Manhattan Associates stock opened at $222.17 on Wednesday. The company has a market cap of $12.95 billion, a price-to-earnings ratio of 63.66 and a beta of 0.95. The company’s 50 day moving average is $209.27 and its 200 day moving average is $168.26. Manhattan Associates has a twelve month low of $119.06 and a twelve month high of $231.63.

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 the consensus estimate 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 analysts’ expectations of $289.03 million. During the same quarter last year, the company posted $1.31 earnings per share. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. Sell-side analysts expect that Manhattan Associates will post 3.87 EPS for the current fiscal year.

Insider Buying and Selling

In other Manhattan Associates news, EVP James Gantt sold 5,139 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The shares were 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 represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric Clark sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total transaction of $593,280.00. Following the sale, the chief executive officer directly owned 89,638 shares of the company’s stock, valued at approximately $17,726,810.88. This represents a 3.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE bought a new position in Manhattan Associates in the 2nd quarter worth $75,136,000. William Blair Investment Management LLC purchased a new position in Manhattan Associates during the second quarter valued at $94,049,000. BlackRock Inc. purchased a new position in Manhattan Associates during the second quarter valued at $944,285,000. Engineers Gate Manager LP grew its holdings in Manhattan Associates by 1,309.1% during the second quarter. Engineers Gate Manager LP now owns 132,846 shares of the software maker’s stock valued at $18,499,000 after purchasing an additional 123,418 shares during the period. Finally, WCM Investment Management LLC bought a new stake in Manhattan Associates during the first quarter valued at about $980,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

About Manhattan Associates

Manhattan Associates, Inc develops cloud-based software designed to help businesses manage supply chains, inventory, warehouse operations, transportation, and omnichannel commerce. Its solutions are used by retailers, wholesalers, manufacturers, distributors, logistics providers, and other organizations seeking to coordinate products, orders, labor, and fulfillment activities.

The company’s product portfolio includes Manhattan Active Warehouse Management, Manhattan Active Transportation Management, Manhattan Active Order Management, and related tools for inventory optimization, workforce management, customer engagement, and point-of-sale operations.