Manhattan Associates, Inc. (NASDAQ:MANH) Stock Has Consensus Target Price of $223.70 According to Analysts

Manhattan Associates, Inc. (NASDAQ:MANH) has earned a consensus rating of “Moderate Buy” from the ten brokerages that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $229.33.

A number of brokerages recently issued reports on MANH. Barclays lifted their target price on Manhattan Associates from $201.00 to $239.00 and gave the stock an “overweight” rating in a report on Tuesday, September 8th. Citigroup upped their target price on Manhattan Associates from $203.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday. Robert W. Baird increased their price target on Manhattan Associates from $218.00 to $260.00 and gave the company an “outperform” rating in a research report on Wednesday, August 26th. UBS Group reiterated a “buy” rating on shares of Manhattan Associates in a research report on Wednesday, October 14th. Finally, DA Davidson cut Manhattan Associates from a “buy” rating to a “neutral” rating and set a $210.00 price target on the stock. in a research note on Monday, September 28th.

Insider Buying and Selling at Manhattan Associates

In related news, CEO Eric Clark sold 3,000 shares of Manhattan Associates stock in a transaction on Tuesday, August 11th. The stock was 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 of the company’s stock, valued at approximately $17,726,810.88. This trade represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James Gantt sold 5,139 shares of Manhattan Associates stock in a transaction dated Thursday, July 30th. The shares were 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 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 disclosure for this sale is available in the SEC filing. 0.84% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Manhattan Associates

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MBL Wealth LLC bought a new stake in Manhattan Associates during the 3rd quarter valued at approximately $274,000. Compass Wealth Management LLC bought a new position in Manhattan Associates in the 3rd quarter worth approximately $69,000. Root Financial Partners LLC bought a new position in Manhattan Associates in the 3rd quarter worth approximately $71,000. Quadrant Capital Group LLC increased its position in Manhattan Associates by 16.8% in the 3rd quarter. Quadrant Capital Group LLC now owns 2,354 shares of the software maker’s stock worth $468,000 after buying an additional 338 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in Manhattan Associates by 133.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 16,483 shares of the software maker’s stock worth $3,275,000 after buying an additional 9,417 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Associates Trading Up 2.7%

NASDAQ:MANH opened at $242.17 on Tuesday. The stock has a 50 day moving average of $212.30 and a 200-day moving average of $171.34. The firm has a market capitalization of $14.12 billion, a PE ratio of 69.39 and a beta of 0.95. Manhattan Associates has a 52 week low of $119.06 and a 52 week high of $242.49.

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

Manhattan Associates Company Profile

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.