Manhattan Associates, Inc. (NASDAQ:MANH) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Manhattan Associates, Inc. (NASDAQ:MANH - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the nine analysts that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $286.38.

A number of brokerages recently commented on MANH. StockNews.com downgraded shares of Manhattan Associates from a "buy" rating to a "hold" rating in a report on Thursday, August 1st. Truist Financial increased their price target on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a "buy" rating in a report on Friday, October 11th. Robert W. Baird increased their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an "outperform" rating in a report on Tuesday. Citigroup increased their price target on shares of Manhattan Associates from $257.00 to $287.00 and gave the company a "neutral" rating in a report on Wednesday, September 25th. Finally, Raymond James increased 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.

Manhattan Associates Stock Performance

Shares of MANH traded up $2.06 during midday trading on Thursday, hitting $273.42. 430,716 shares of the company traded hands, compared to its average volume of 416,560. The firm has a 50 day moving average of $274.18 and a 200-day moving average of $246.59. 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 $16.83 billion, a price-to-earnings ratio of 88.68 and a beta of 1.50.

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

Insider Transactions at Manhattan Associates

In other 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 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 approximately $11,872,615.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.72% of the company's stock.

Hedge Funds Weigh In On Manhattan Associates

Institutional investors have recently modified their holdings of the stock. Tobam purchased a new position in Manhattan Associates during the first quarter valued at approximately $25,000. Innealta Capital LLC purchased a new position in Manhattan Associates during the second quarter valued at approximately $26,000. International Assets Investment Management LLC purchased a new position in Manhattan Associates during the second quarter valued at approximately $27,000. Ashton Thomas Private Wealth LLC purchased a new position in Manhattan Associates during the second quarter valued at approximately $31,000. Finally, DT Investment Partners LLC purchased a new position in Manhattan Associates during the second quarter valued at approximately $31,000. 98.45% of the stock is owned by hedge funds and other 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.