Manhattan Associates (NASDAQ:MANH) Shares Gap Down - Should You Sell?

Manhattan Associates, Inc. (NASDAQ:MANH - Get Free Report)'s share price gapped down before the market opened on Wednesday . The stock had previously closed at $292.32, but opened at $280.00. Manhattan Associates shares last traded at $268.98, with a volume of 145,894 shares changing hands.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Robert W. Baird increased their target price on Manhattan Associates from $263.00 to $304.00 and gave the company an "outperform" rating in a research report on Tuesday. Truist Financial boosted their target price on Manhattan Associates from $275.00 to $310.00 and gave the company a "buy" rating in a research report on Friday, October 11th. Raymond James raised their price target on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an "outperform" rating in a research note on Wednesday. DA Davidson lifted their price objective on Manhattan Associates from $285.00 to $315.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Citigroup upped their price target 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. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $286.38.

Manhattan Associates Stock Down 7.2 %

The stock has a market capitalization of $16.71 billion, a PE ratio of 88.92 and a beta of 1.50. The firm has a 50 day moving average price of $273.75 and a 200-day moving average price of $246.41.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $266.70 million during the quarter, compared to analyst estimates of $262.90 million. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. Manhattan Associates's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the firm posted $0.79 EPS. Equities analysts expect that Manhattan Associates, Inc. will post 3.01 earnings per share for the current fiscal year.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of Manhattan Associates stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 46,287 shares in the company, valued at approximately $11,872,615.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.72% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Manhattan Associates

Hedge funds and other institutional investors have recently made changes to their positions in the company. UMB Bank n.a. grew its holdings in Manhattan Associates by 16.7% in the 3rd quarter. UMB Bank n.a. now owns 301 shares of the software maker's stock valued at $85,000 after buying an additional 43 shares in the last quarter. SkyView Investment Advisors LLC lifted its holdings in Manhattan Associates by 0.9% in the second quarter. SkyView Investment Advisors LLC now owns 5,018 shares of the software maker's stock valued at $1,238,000 after acquiring an additional 46 shares during the last quarter. iA Global Asset Management Inc. increased its stake in Manhattan Associates by 9.7% during the first quarter. iA Global Asset Management Inc. now owns 726 shares of the software maker's stock worth $182,000 after acquiring an additional 64 shares during the last quarter. Janiczek Wealth Management LLC lifted its stake in shares of Manhattan Associates by 4.6% in the 1st quarter. Janiczek Wealth Management LLC now owns 1,492 shares of the software maker's stock valued at $373,000 after purchasing an additional 65 shares during the last quarter. Finally, Atomi Financial Group Inc. increased its position in shares of Manhattan Associates by 8.3% during the 3rd quarter. Atomi Financial Group Inc. now owns 1,014 shares of the software maker's stock worth $285,000 after purchasing an additional 78 shares during the last quarter. 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.