Manhattan Associates (NASDAQ:MANH) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Manhattan Associates (NASDAQ:MANH) from a hold rating to a buy rating in a research note published on Wednesday morning.

Other analysts have also issued reports about the company. Citigroup lifted their price target on Manhattan Associates from $220.00 to $257.00 and gave the stock a neutral rating in a research note on Friday, June 28th. Loop Capital lifted their price target on Manhattan Associates from $250.00 to $265.00 and gave the stock a buy rating in a research note on Wednesday. William Blair reaffirmed a market perform rating on shares of Manhattan Associates in a research note on Wednesday, April 24th. Rosenblatt Securities reaffirmed a neutral rating and issued a $225.00 price target on shares of Manhattan Associates in a research note on Wednesday, April 24th. Finally, DA Davidson lifted their price target on Manhattan Associates from $260.00 to $285.00 and gave the stock a buy rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Manhattan Associates has a consensus rating of Moderate Buy and a consensus price target of $257.43.

Manhattan Associates Price Performance

Manhattan Associates stock opened at $258.46 on Wednesday. The stock has a market capitalization of $15.91 billion, a PE ratio of 84.46 and a beta of 1.50. Manhattan Associates has a 12 month low of $182.97 and a 12 month high of $266.94. The business has a 50 day simple moving average of $233.36 and a 200-day simple moving average of $234.67.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, July 23rd. The software maker reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.22. The business had revenue of $265.30 million during the quarter, compared to analysts’ expectations of $255.83 million. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The business’s revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.63 earnings per share. On average, equities research analysts anticipate that Manhattan Associates will post 3.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Manhattan Associates

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MANH. Raymond James Financial Services Advisors Inc. boosted its stake in Manhattan Associates by 124.7% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 3,479 shares of the software maker’s stock worth $749,000 after buying an additional 1,931 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Manhattan Associates by 5.1% during the fourth quarter. Pacer Advisors Inc. now owns 12,860 shares of the software maker’s stock worth $2,769,000 after buying an additional 628 shares during the last quarter. Highland Capital Management LLC acquired a new position in Manhattan Associates during the fourth quarter worth $1,142,000. Ritholtz Wealth Management boosted its stake in Manhattan Associates by 180.5% during the fourth quarter. Ritholtz Wealth Management now owns 3,484 shares of the software maker’s stock worth $750,000 after buying an additional 2,242 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in shares of Manhattan Associates in the 4th quarter valued at $205,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

About Manhattan Associates

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Warehouse Management Solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and Transportation Management Solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, POS, and customer engagement tools for enterprises and stores.