Manhattan Associates’ (MANH) “Buy” Rating Reiterated at Truist Financial

Truist Financial reaffirmed their buy rating on shares of Manhattan Associates (NASDAQ:MANH) in a report issued on Wednesday,Benzinga reports. They currently have a $305.00 target price on the software maker’s stock, up from their prior target price of $240.00.

Several other brokerages have also recently issued reports on MANH. Morgan Stanley upgraded Manhattan Associates from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $180.00 to $250.00 in a report on Monday, October 12th. DA Davidson cut shares of Manhattan Associates from a “buy” rating to a “neutral” rating and set a $210.00 price objective for the company. in a research report on Monday, September 28th. Barclays lifted their target price on shares of Manhattan Associates from $201.00 to $239.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 8th. Robert W. Baird boosted their target price on shares of Manhattan Associates from $218.00 to $260.00 and gave the company an “outperform” rating in a report on Wednesday, August 26th. Finally, Citigroup increased their price target on shares of Manhattan Associates from $203.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, October 20th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Manhattan Associates presently has an average rating of “Moderate Buy” and an average target price of $257.11.

Manhattan Associates Stock Performance

Shares of MANH stock opened at $248.39 on Wednesday. Manhattan Associates has a fifty-two week low of $119.06 and a fifty-two week high of $254.00. The stock’s fifty day moving average is $216.59 and its two-hundred day moving average is $166.68. The firm has a market capitalization of $14.48 billion, a P/E ratio of 69.58 and a beta of 0.95.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, October 27th. The software maker reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.09. The business had revenue of $306.19 million during the quarter, compared to analyst estimates of $297.01 million. Manhattan Associates had a net margin of 18.41% and a return on equity of 98.67%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.36 earnings per share. On average, equities analysts forecast that Manhattan Associates will post 3.81 earnings per share for the current year.

Insiders Place Their Bets

In other Manhattan Associates news, CEO Eric Clark sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total value of $593,280.00. Following the sale, the chief executive officer owned 89,638 shares of the company’s stock, valued at $17,726,810.88. The trade was a 3.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.84% of the company’s stock.

Institutional Trading of Manhattan Associates

A number of large investors have recently bought and sold shares of MANH. BlackRock Inc. purchased a new stake in Manhattan Associates in the second quarter valued at approximately $944,285,000. William Blair Investment Management LLC acquired a new stake in Manhattan Associates in the second quarter valued at approximately $94,049,000. Bank of America Corp DE acquired a new stake in Manhattan Associates during the 2nd quarter valued at $75,136,000. Bank of New York Mellon Corp purchased a new stake in Manhattan Associates during the 2nd quarter worth $54,011,000. Finally, Amundi grew its stake in Manhattan Associates by 479.4% during the 1st quarter. Amundi now owns 454,095 shares of the software maker’s stock valued at $60,449,000 after purchasing an additional 375,719 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

About Manhattan Associates

Manhattan Associates, Inc develops supply chain commerce software for retailers, wholesalers, manufacturers and logistics providers. Its solutions help organizations plan, execute and optimize inventory, warehouse, transportation and omnichannel fulfillment operations.

The company’s product portfolio includes warehouse management, transportation management, order management, inventory optimization, labor management and point-of-sale capabilities. Manhattan Associates also provides tools that support warehouse automation, store fulfillment, distributed order management and customer engagement across digital and physical retail channels.

Founded in 1990 and headquartered in Atlanta, Georgia, Manhattan Associates serves customers across North America, Europe, Asia-Pacific and other international markets.