Analysts Set Manhattan Associates, Inc. (NASDAQ:MANH) Price Target at $290.78

Shares of Manhattan Associates, Inc. (NASDAQ:MANH) have been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $292.89.

A number of analysts have recently commented on MANH shares. Raymond James lifted their target price on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Citigroup raised their price target on Manhattan Associates from $287.00 to $306.00 and gave the stock a “neutral” rating in a research note on Monday. DA Davidson boosted their price objective on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Truist Financial increased their price objective on Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a report on Friday, October 11th. Finally, Loop Capital lifted their target price on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a report on Monday, September 16th.

Manhattan Associates Stock Up 0.3 %

Shares of Manhattan Associates stock opened at $282.54 on Friday. Manhattan Associates has a 52 week low of $199.23 and a 52 week high of $312.60. The firm’s 50 day moving average is $286.39 and its two-hundred day moving average is $263.92. The firm has a market capitalization of $17.26 billion, a P/E ratio of 80.27 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.29. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The firm had revenue of $266.70 million for the quarter, compared to the consensus estimate of $262.90 million. During the same period last year, the firm posted $0.79 EPS. The company’s revenue was up 11.9% on a year-over-year basis. As a group, research analysts expect that Manhattan Associates will post 3.39 earnings per share for the current fiscal year.

Insider Activity at Manhattan Associates

In other news, SVP Bruce Richards sold 4,150 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $289.73, for a total value of $1,202,379.50. Following the completion of the sale, the senior vice president now owns 22,086 shares in the company, valued at approximately $6,398,976.78. This trade represents a 15.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James Stewart Gantt sold 3,475 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the transaction, the executive vice president now owns 42,812 shares in the company, valued at approximately $12,334,137.20. This trade represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Manhattan Associates

A number of large investors have recently modified their holdings of the business. Fidelis Capital Partners LLC boosted its stake in shares of Manhattan Associates by 3.2% in the third quarter. Fidelis Capital Partners LLC now owns 1,279 shares of the software maker’s stock valued at $347,000 after buying an additional 40 shares in the last quarter. Ascent Group LLC lifted its holdings in Manhattan Associates by 4.8% in the third quarter. Ascent Group LLC now owns 896 shares of the software maker’s stock valued at $252,000 after acquiring an additional 41 shares during the period. UMB Bank n.a. boosted its position in shares of Manhattan Associates by 16.7% during the 3rd quarter. UMB Bank n.a. now owns 301 shares of the software maker’s stock worth $85,000 after purchasing an additional 43 shares in the last quarter. SkyView Investment Advisors LLC grew its stake in shares of Manhattan Associates by 0.9% during the 2nd quarter. SkyView Investment Advisors LLC now owns 5,018 shares of the software maker’s stock worth $1,238,000 after purchasing an additional 46 shares during the period. Finally, Huntington National Bank grew its stake in shares of Manhattan Associates by 5.9% during the 3rd quarter. Huntington National Bank now owns 879 shares of the software maker’s stock worth $247,000 after purchasing an additional 49 shares during the period. 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.