Manhattan Associates, Inc. (NASDAQ:MANH) Given Average 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 ten research firms that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $292.89.

A number of research firms have issued reports on MANH. Loop Capital increased their price target on Manhattan Associates from $265.00 to $285.00 and gave the stock a "buy" rating in a report on Monday, September 16th. Robert W. Baird increased their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 22nd. Raymond James lifted their price target 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. DA Davidson increased their price objective on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Finally, Piper Sandler initiated coverage on Manhattan Associates in a research report on Monday, November 25th. They issued an "overweight" rating and a $326.00 target price for the company.

Manhattan Associates Stock Down 1.2 %

Manhattan Associates stock traded down $3.16 during mid-day trading on Tuesday, hitting $268.20. 293,341 shares of the stock were exchanged, compared to its average volume of 310,410. The stock has a market capitalization of $16.38 billion, a price-to-earnings ratio of 76.19 and a beta of 1.52. Manhattan Associates has a 12 month low of $199.62 and a 12 month high of $312.60. The firm's fifty day simple moving average is $282.35 and its two-hundred day simple moving average is $268.80.

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

Insider Activity

In other Manhattan Associates news, SVP Bruce Richards sold 4,150 shares of the business's stock in a transaction dated 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 transaction, the senior vice president now directly owns 22,086 shares in the company, valued at $6,398,976.78. The trade was a 15.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James Stewart Gantt sold 3,475 shares of the firm's stock in a transaction 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 completion of the sale, the executive vice president now directly owns 42,812 shares of the company's stock, valued at $12,334,137.20. This represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company's stock.

Institutional Trading of Manhattan Associates

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. increased its position in shares of Manhattan Associates by 30.5% during the second quarter. Victory Capital Management Inc. now owns 53,856 shares of the software maker's stock valued at $13,285,000 after buying an additional 12,593 shares during the period. MainStreet Investment Advisors LLC boosted its holdings in Manhattan Associates by 6.4% in the 2nd quarter. MainStreet Investment Advisors LLC now owns 2,459 shares of the software maker's stock valued at $607,000 after purchasing an additional 148 shares during the period. Caprock Group LLC purchased a new position in shares of Manhattan Associates during the 2nd quarter valued at $1,024,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Manhattan Associates in the second quarter worth $31,000. Finally, Choreo LLC raised its position in shares of Manhattan Associates by 35.8% in the second quarter. Choreo LLC now owns 1,935 shares of the software maker's stock worth $475,000 after buying an additional 510 shares in the last quarter. 98.45% of the stock is currently owned by 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.