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

Manhattan Associates, Inc. (NASDAQ:MANH) has been given an average rating of “Moderate Buy” by the eight ratings firms that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $257.43.

A number of equities research analysts have recently commented on the company. DA Davidson increased their target price on Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Redburn Atlantic started coverage on shares of Manhattan Associates in a report on Tuesday, May 14th. They issued a “buy” rating and a $260.00 target price for the company. Loop Capital increased their price target on shares of Manhattan Associates from $250.00 to $265.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Citigroup boosted 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.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total value of $1,539,000.00. Following the transaction, the executive vice president now directly owns 46,287 shares of the company’s stock, valued at $11,872,615.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.72% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Tobam purchased a new position in shares of Manhattan Associates in the first quarter valued at about $25,000. Innealta Capital LLC bought a new position in Manhattan Associates in the 2nd quarter worth approximately $26,000. Benjamin Edwards Inc. purchased a new stake in Manhattan Associates during the 1st quarter valued at approximately $27,000. International Assets Investment Management LLC bought a new stake in shares of Manhattan Associates during the second quarter valued at approximately $27,000. Finally, Contravisory Investment Management Inc. purchased a new position in shares of Manhattan Associates in the first quarter worth $31,000. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Price Performance

NASDAQ:MANH opened at $259.49 on Wednesday. The firm has a market capitalization of $15.89 billion, a P/E ratio of 84.80 and a beta of 1.50. Manhattan Associates has a one year low of $182.97 and a one year high of $267.00. The company’s 50-day simple moving average is $248.91 and its 200 day simple moving average is $239.42.

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

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.