Manhattan Associates, Inc. (NASDAQ:MANH) Given Average Rating of “Moderate Buy” by Analysts

Shares of Manhattan Associates, Inc. (NASDAQ:MANH) have been assigned a consensus rating of “Moderate Buy” from the eleven research firms that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $209.20.

A number of research firms have issued reports on MANH. Rothschild & Co Redburn set a $145.00 target price on Manhattan Associates in a report on Thursday, April 16th. Weiss Ratings upgraded Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 14th. Citigroup increased 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. Barclays lowered their price objective 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. Finally, Wall Street Zen lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th.

Manhattan Associates Trading Down 1.3%

NASDAQ:MANH opened at $192.63 on Thursday. The firm has a market capitalization of $11.23 billion, a PE ratio of 55.19 and a beta of 0.93. Manhattan Associates has a 1 year low of $119.06 and a 1 year high of $220.72. The firm’s fifty day simple moving average is $157.68 and its 200 day simple moving average is $146.44.

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

Insider Buying and Selling at Manhattan Associates

In other news, 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 transaction of $593,280.00. Following the completion of the transaction, the chief executive officer 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James Stewart Gantt sold 5,139 shares of the stock in a transaction dated 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 owned 55,676 shares of the company’s stock, valued at approximately $10,886,328.28. The trade was a 8.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,139 shares of company stock worth $1,744,879 over the last 90 days. Company insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Manhattan Associates

Several large investors have recently added to or reduced their stakes in MANH. Bank of Nova Scotia bought a new stake in shares of Manhattan Associates during the second quarter valued at approximately $1,446,000. Northwestern Mutual Wealth Management Co. bought a new position in Manhattan Associates in the second quarter worth $62,000. Quantbot Technologies LP bought a new position in Manhattan Associates in the second quarter worth $1,598,000. Evolve Private Wealth LLC acquired a new stake in Manhattan Associates during the second quarter worth $312,000. Finally, William Blair Investment Management LLC acquired a new stake in Manhattan Associates during the second quarter worth $94,049,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

About Manhattan Associates

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.