Manhattan Associates (NASDAQ:MANH) Cut to Hold at StockNews.com

Manhattan Associates (NASDAQ:MANH - Get Free Report) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Monday.

Several other brokerages also recently commented on MANH. DA Davidson increased their price target on Manhattan Associates from $285.00 to $315.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Citigroup lifted their target price on shares of Manhattan Associates from $287.00 to $306.00 and gave the stock a "neutral" rating in a report on Monday, December 16th. Raymond James upped their price target on shares of Manhattan Associates from $255.00 to $305.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd. Robert W. Baird lifted their price objective on Manhattan Associates from $263.00 to $304.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 22nd. Finally, Truist Financial increased their target price on Manhattan Associates from $275.00 to $310.00 and gave the company a "buy" rating in a research note on Friday, October 11th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $292.89.

Manhattan Associates Stock Down 0.0 %

MANH stock traded down $0.05 during trading hours on Monday, hitting $265.33. The company's stock had a trading volume of 277,232 shares, compared to its average volume of 299,347. The stock has a 50 day moving average price of $282.66 and a two-hundred day moving average price of $269.51. Manhattan Associates has a 12 month low of $205.12 and a 12 month high of $312.60. The company has a market capitalization of $16.21 billion, a PE ratio of 75.38 and a beta of 1.52.

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

Insider Buying and Selling

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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James Stewart Gantt sold 3,475 shares of the firm'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 transaction of $1,001,147.50. Following the sale, the executive vice president now directly owns 42,812 shares of the company's stock, valued at approximately $12,334,137.20. The trade was a 7.51 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Manhattan Associates

Institutional investors have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA acquired a new stake in shares of Manhattan Associates in the third quarter valued at $234,249,000. JPMorgan Chase & Co. grew its holdings in Manhattan Associates by 213.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker's stock worth $284,169,000 after acquiring an additional 687,933 shares during the last quarter. Squarepoint Ops LLC increased its position in Manhattan Associates by 448.9% in the 2nd quarter. Squarepoint Ops LLC now owns 160,649 shares of the software maker's stock valued at $39,629,000 after acquiring an additional 131,381 shares in the last quarter. FMR LLC raised its stake 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 worth $539,521,000 after acquiring an additional 130,817 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Manhattan Associates by 118.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 173,644 shares of the software maker's stock worth $48,860,000 after purchasing an additional 94,283 shares in the last quarter. Institutional investors own 98.45% of the company's stock.

About Manhattan Associates

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.

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