Manhattan Associates (NASDAQ:MANH) Hits New 12-Month High After Analyst Upgrade

Shares of Manhattan Associates, Inc. (NASDAQ:MANH) hit a new 52-week high on Tuesday after Loop Capital raised their price target on the stock from $265.00 to $285.00. Loop Capital currently has a buy rating on the stock. Manhattan Associates traded as high as $272.36 and last traded at $272.26, with a volume of 12647 shares changing hands. The stock had previously closed at $270.40.

A number of other equities research analysts have also recently commented on MANH. StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. DA Davidson increased their target price on Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Citigroup boosted their price target on shares of Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a report on Friday, June 28th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $260.29.

Insider Buying and Selling at Manhattan Associates

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

Institutional Investors Weigh In On Manhattan Associates

A number of large investors have recently made changes to their positions in the stock. SkyView Investment Advisors LLC boosted its stake in Manhattan Associates by 0.9% during the second quarter. SkyView Investment Advisors LLC now owns 5,018 shares of the software maker’s stock worth $1,238,000 after buying an additional 46 shares during the last quarter. iA Global Asset Management Inc. boosted its position in shares of Manhattan Associates by 9.7% during the 1st quarter. iA Global Asset Management Inc. now owns 726 shares of the software maker’s stock valued at $182,000 after acquiring an additional 64 shares during the last quarter. Janiczek Wealth Management LLC grew its holdings in shares of Manhattan Associates by 4.6% in the first quarter. Janiczek Wealth Management LLC now owns 1,492 shares of the software maker’s stock valued at $373,000 after purchasing an additional 65 shares during the period. GAMMA Investing LLC increased its position in Manhattan Associates by 11.4% during the second quarter. GAMMA Investing LLC now owns 804 shares of the software maker’s stock worth $198,000 after purchasing an additional 82 shares during the last quarter. Finally, Legacy Advisors LLC raised its stake in Manhattan Associates by 1.3% during the second quarter. Legacy Advisors LLC now owns 6,689 shares of the software maker’s stock worth $1,650,000 after purchasing an additional 84 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Price Performance

The business’s 50 day simple moving average is $250.51 and its 200 day simple moving average is $239.83. The company has a market capitalization of $16.73 billion, a PE ratio of 88.37 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last released 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 firm had revenue of $265.30 million for 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 firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 earnings per share. As a group, analysts anticipate that Manhattan Associates, Inc. will post 3.01 EPS for the current 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.