Manhattan Associates, Inc. (NASDAQ:MANH) Given Consensus Rating of "Moderate Buy" by Brokerages

Manhattan Associates, Inc. (NASDAQ:MANH - Get Free Report) has been given a consensus rating of "Moderate Buy" by the nine brokerages that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $286.38.

MANH has been the topic of several research reports. Loop Capital increased their price target on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a "buy" rating in a research report on Monday, September 16th. Raymond James increased their price target on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. DA Davidson raised their target price on shares of 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 raised their price target on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a "buy" rating in a report on Friday, October 11th. Finally, Robert W. Baird raised their price objective on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an "outperform" rating in a report on Tuesday, October 22nd.

Hedge Funds Weigh In On Manhattan Associates

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Manhattan Associates by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 6,671,321 shares of the software maker's stock valued at $1,669,365,000 after purchasing an additional 58,905 shares during the last quarter. State Street Corp raised its holdings in shares of Manhattan Associates by 0.6% in the third quarter. State Street Corp now owns 2,203,139 shares of the software maker's stock valued at $619,918,000 after purchasing an additional 12,787 shares during the last quarter. FMR LLC raised its holdings in shares of Manhattan Associates by 7.3% in the third quarter. FMR LLC now owns 1,917,412 shares of the software maker's stock valued at $539,521,000 after purchasing an additional 130,817 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Manhattan Associates by 5.8% in the third quarter. Geode Capital Management LLC now owns 1,514,941 shares of the software maker's stock valued at $426,308,000 after purchasing an additional 82,995 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Manhattan Associates in the third quarter valued at approximately $234,249,000. Institutional investors and hedge funds own 98.45% of the company's stock.

Manhattan Associates Stock Down 0.4 %

NASDAQ MANH traded down $0.98 during trading hours on Monday, hitting $271.64. 354,139 shares of the stock were exchanged, compared to its average volume of 414,349. The stock has a 50-day moving average of $280.14 and a 200 day moving average of $253.21. Manhattan Associates has a 12-month low of $199.23 and a 12-month high of $307.50. The company has a market cap of $16.59 billion, a price-to-earnings ratio of 77.17 and a beta of 1.52.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $262.90 million. During the same period in the prior year, the business posted $0.79 earnings per share. The firm's revenue for the quarter was up 11.9% compared to the same quarter last year. On average, equities research analysts expect that Manhattan Associates will post 3.4 earnings per share 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.