Manhattan Associates (NASDAQ:MANH) Given New $304.00 Price Target at Robert W. Baird

Manhattan Associates (NASDAQ:MANH - Free Report) had its price target increased by Robert W. Baird from $263.00 to $304.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have an outperform rating on the software maker's stock.

A number of other research analysts have also weighed in on MANH. DA Davidson lifted their price target on shares of Manhattan Associates from $260.00 to $285.00 and gave the company a "buy" rating in a research note on Wednesday, July 24th. Loop Capital boosted their price objective on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a "buy" rating in a research report on Monday, September 16th. Citigroup boosted their price objective on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 25th. StockNews.com lowered shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Thursday, August 1st. Finally, Truist Financial boosted their price objective on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a "buy" rating in a research report on Friday, October 11th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $275.75.

Manhattan Associates Stock Performance

Shares of NASDAQ MANH traded down $3.22 during trading on Tuesday, reaching $292.32. The company had a trading volume of 745,926 shares, compared to its average volume of 411,432. Manhattan Associates has a 52 week low of $182.97 and a 52 week high of $307.50. The stock has a market cap of $18.00 billion, a PE ratio of 96.08 and a beta of 1.50. The business's 50 day moving average price is $272.92 and its 200-day moving average price is $246.07.

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

Insider Transactions at Manhattan Associates

In related news, EVP James Stewart Gantt sold 6,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total value of $1,539,000.00. Following the completion of the transaction, the executive vice president now owns 46,287 shares in the company, valued at $11,872,615.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.72% of the company's stock.

Institutional Trading of Manhattan Associates

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. M&G Plc acquired a new stake in shares of Manhattan Associates during the 1st quarter worth approximately $77,433,000. Fiera Capital Corp acquired a new stake in Manhattan Associates in the 2nd quarter valued at $44,705,000. Squarepoint Ops LLC grew 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 purchasing an additional 131,381 shares during the period. Russell Investments Group Ltd. grew its position in Manhattan Associates by 173.2% in the 1st quarter. Russell Investments Group Ltd. now owns 163,497 shares of the software maker's stock valued at $40,893,000 after purchasing an additional 103,645 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in Manhattan Associates by 118.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 173,644 shares of the software maker's stock valued at $48,860,000 after purchasing an additional 94,283 shares during the period. Institutional investors and hedge funds 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.