Manhattan Associates (NASDAQ:MANH) PT Raised to $315.00

Manhattan Associates (NASDAQ:MANH - Get Free Report) had its price target upped by stock analysts at DA Davidson from $285.00 to $315.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the software maker's stock. DA Davidson's target price suggests a potential upside of 16.08% from the company's previous close.

MANH has been the topic of a number of other research reports. Loop Capital boosted their price target on Manhattan Associates from $265.00 to $285.00 and gave the company a "buy" rating in a report on Monday, September 16th. Robert W. Baird boosted their price target on Manhattan Associates from $263.00 to $304.00 and gave the stock an "outperform" rating in a research report on Tuesday. StockNews.com cut Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Thursday, August 1st. Truist Financial upped their price objective on Manhattan Associates from $275.00 to $310.00 and gave the company a "buy" rating in a research report on Friday, October 11th. Finally, Citigroup boosted their target price on shares of Manhattan Associates from $257.00 to $287.00 and gave the company a "neutral" rating in a research note on Wednesday, September 25th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $286.38.

Manhattan Associates Trading Down 7.2 %

Shares of MANH traded down $20.96 on Wednesday, reaching $271.36. 1,446,704 shares of the company's stock traded hands, compared to its average volume of 416,491. The stock's 50 day simple moving average is $273.75 and its two-hundred day simple moving average is $246.41. 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 $16.71 billion, a PE ratio of 88.92 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.29. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The company had revenue of $266.70 million during the quarter, compared to analyst estimates of $262.90 million. During the same quarter last year, the company earned $0.79 earnings per share. The firm's quarterly revenue was up 11.9% on a year-over-year basis. Analysts forecast that Manhattan Associates will post 3.01 earnings per share for the current year.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of the company's stock in a transaction 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 sale, the executive vice president now directly owns 46,287 shares of the company's stock, valued at approximately $11,872,615.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Tobam acquired a new stake in shares of Manhattan Associates during the 1st quarter worth approximately $25,000. Innealta Capital LLC purchased a new stake in shares of Manhattan Associates during the 2nd quarter worth $26,000. International Assets Investment Management LLC acquired a new stake in Manhattan Associates during the 2nd quarter worth $27,000. DT Investment Partners LLC acquired a new stake in Manhattan Associates during the 2nd quarter worth $31,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Manhattan Associates in the second quarter valued at $31,000. 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.