Manhattan Associates (NASDAQ:MANH) Hits New 12-Month High - Here's Why

Manhattan Associates, Inc. (NASDAQ:MANH - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $288.73 and last traded at $288.23, with a volume of 22861 shares trading hands. The stock had previously closed at $286.28.

Wall Street Analyst Weigh In

MANH has been the subject of a number of research reports. Loop Capital lifted their target price on Manhattan Associates from $265.00 to $285.00 and gave the stock a "buy" rating in a report on Monday, September 16th. StockNews.com cut shares of Manhattan Associates from a "buy" rating to a "hold" rating in a report on Thursday, August 1st. DA Davidson boosted their price objective on Manhattan Associates from $260.00 to $285.00 and gave the stock a "buy" rating in a research report on Wednesday, July 24th. Finally, Citigroup upped their price target on shares of Manhattan Associates from $257.00 to $287.00 and gave the company a "neutral" rating in a research report on Wednesday, September 25th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Manhattan Associates has an average rating of "Moderate Buy" and a consensus target price of $264.57.

Manhattan Associates Trading Up 2.1 %

The stock has a market capitalization of $17.99 billion, a P/E ratio of 95.51 and a beta of 1.50. The company's fifty day simple moving average is $263.30 and its 200 day simple moving average is $242.75.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its earnings results on Tuesday, July 23rd. The software maker reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.22. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The firm had revenue of $265.30 million for the quarter, compared to analysts' expectations of $255.83 million. During the same quarter last year, the business earned $0.63 earnings per share. The business's revenue was up 14.8% on a year-over-year basis. Equities research analysts predict that Manhattan Associates, Inc. will post 3.01 earnings per share for the current year.

Insider Transactions at Manhattan Associates

In other news, EVP James Stewart Gantt sold 6,000 shares of the company's stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the transaction, the executive vice president now directly owns 46,287 shares of the company's stock, valued at $11,872,615.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.72% of the company's stock.

Institutional Trading of Manhattan Associates

Large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Manhattan Associates by 0.9% in the first quarter. Vanguard Group Inc. now owns 6,671,321 shares of the software maker's stock worth $1,669,365,000 after buying an additional 58,905 shares during the last quarter. TD Asset Management Inc increased its stake in shares of Manhattan Associates by 10.5% in the 1st quarter. TD Asset Management Inc now owns 607,167 shares of the software maker's stock worth $151,931,000 after purchasing an additional 57,859 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Manhattan Associates by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 604,115 shares of the software maker's stock worth $149,023,000 after purchasing an additional 2,156 shares during the period. RGM Capital LLC lifted its position in Manhattan Associates by 4.1% during the second quarter. RGM Capital LLC now owns 583,037 shares of the software maker's stock valued at $143,824,000 after purchasing an additional 23,000 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in Manhattan Associates by 0.3% during the first quarter. Bessemer Group Inc. now owns 561,901 shares of the software maker's stock valued at $140,604,000 after purchasing an additional 1,757 shares during the period. Institutional investors own 98.45% of the company's stock.

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.