Manhattan Associates, Inc. (NASDAQ:MANH) Receives $290.78 Average PT from Brokerages

Manhattan Associates, Inc. (NASDAQ:MANH - Get Free Report) has received an average recommendation of "Moderate Buy" from the ten ratings firms that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $290.78.

Several equities research analysts have commented on MANH shares. Robert W. Baird boosted their target price on Manhattan Associates from $263.00 to $304.00 and gave the stock an "outperform" rating in a report on Tuesday, October 22nd. Raymond James lifted their target price on shares of Manhattan Associates from $255.00 to $305.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd. Truist Financial increased their price target on Manhattan Associates from $275.00 to $310.00 and gave the stock a "buy" rating in a research note on Friday, October 11th. Citigroup boosted their price objective on Manhattan Associates from $257.00 to $287.00 and gave the company a "neutral" rating in a research report on Wednesday, September 25th. Finally, Loop Capital increased their target price on Manhattan Associates from $265.00 to $285.00 and gave the stock a "buy" rating in a research report on Monday, September 16th.

Insider Transactions at Manhattan Associates

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

Hedge Funds Weigh In On Manhattan Associates

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in Manhattan Associates during the second quarter worth about $26,000. International Assets Investment Management LLC bought a new position in shares of Manhattan Associates in the second quarter valued at $27,000. Capital Performance Advisors LLP bought a new stake in shares of Manhattan Associates during the 3rd quarter worth $34,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Manhattan Associates in the 2nd quarter worth $31,000. Finally, DT Investment Partners LLC acquired a new stake in shares of Manhattan Associates during the second quarter worth $31,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates Stock Down 3.7 %

MANH traded down $11.61 during trading hours on Friday, hitting $298.17. The stock had a trading volume of 305,699 shares, compared to its average volume of 413,238. The stock has a market cap of $18.21 billion, a PE ratio of 84.71 and a beta of 1.50. Manhattan Associates has a 1 year low of $199.23 and a 1 year high of $312.60. The company's fifty day simple moving average is $286.25 and its 200 day simple moving average is $262.00.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, beating the consensus estimate of $1.06 by $0.29. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The company had revenue of $266.70 million during the quarter, compared to analysts' expectations of $262.90 million. During the same quarter in the previous year, the company earned $0.79 earnings per share. Manhattan Associates's revenue for the quarter was up 11.9% on a year-over-year basis. As a group, equities analysts expect that Manhattan Associates will post 3.39 EPS for the current year.

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.