Manhattan Associates (NASDAQ:MANH) Hits New 12-Month High – Should You Buy?

Manhattan Associates, Inc. (NASDAQ:MANH)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $306.48 and last traded at $305.93, with a volume of 20382 shares. The stock had previously closed at $304.64.

Analyst Ratings Changes

Several equities analysts have weighed in on MANH shares. Citigroup lifted their price target on shares of Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Loop Capital increased their price target on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. DA Davidson boosted their price objective 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, Truist Financial upped their price objective on Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $271.71.

Manhattan Associates Stock Up 0.7 %

The stock has a market capitalization of $18.68 billion, a P/E ratio of 99.14 and a beta of 1.50. The company has a fifty day moving average price of $269.82 and a 200-day moving average price of $244.88.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Tuesday, July 23rd. The software maker reported $1.18 earnings per share (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 business had revenue of $265.30 million for the quarter, compared to the consensus estimate of $255.83 million. During the same quarter in the previous year, the company posted $0.63 EPS. The company’s revenue was up 14.8% compared to the same quarter last year. As a group, research analysts expect that Manhattan Associates, Inc. will post 3.01 earnings per share for the current fiscal year.

Insider Activity

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the sale, the executive vice president now directly owns 46,287 shares of the company’s stock, valued at $11,872,615.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. HighPoint Advisor Group LLC bought a new position in Manhattan Associates during the 4th quarter valued at about $412,000. CWM LLC raised its holdings in shares of Manhattan Associates by 96.4% in the first quarter. CWM LLC now owns 2,225 shares of the software maker’s stock worth $557,000 after buying an additional 1,092 shares during the period. GAMMA Investing LLC lifted its stake in shares of Manhattan Associates by 46.7% during the 1st quarter. GAMMA Investing LLC now owns 722 shares of the software maker’s stock worth $181,000 after acquiring an additional 230 shares during the last quarter. Rise Advisors LLC purchased a new position in Manhattan Associates during the 1st quarter valued at $40,000. Finally, Lantz Financial LLC bought a new position in Manhattan Associates in the 1st quarter valued at $211,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates Company Profile

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.