Manhattan Associates (NASDAQ:MANH) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Manhattan Associates (NASDAQ:MANH) from a hold rating to a buy rating in a report released on Wednesday morning.

A number of other brokerages have also weighed in on MANH. Loop Capital raised their price target on shares of Manhattan Associates from $250.00 to $265.00 and gave the company a buy rating in a report on Wednesday. Rosenblatt Securities reissued a neutral rating and issued a $225.00 price target on shares of Manhattan Associates in a report on Wednesday, April 24th. Citigroup raised their price target on shares of Manhattan Associates from $220.00 to $257.00 and gave the company a neutral rating in a report on Friday, June 28th. Redburn Atlantic assumed coverage on shares of Manhattan Associates in a report on Tuesday, May 14th. They issued a buy rating and a $260.00 price target for the company. Finally, DA Davidson raised their price target on shares of Manhattan Associates from $260.00 to $285.00 and gave the company a buy rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $257.43.

Manhattan Associates Trading Up 4.7 %

NASDAQ MANH opened at $258.46 on Wednesday. The firm has a market cap of $15.91 billion, a price-to-earnings ratio of 84.46 and a beta of 1.50. The company has a 50 day moving average of $233.36 and a 200-day moving average of $234.67. Manhattan Associates has a 1-year low of $182.97 and a 1-year high of $266.94.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, July 23rd. The software maker reported $1.18 EPS for the quarter, beating the consensus estimate of $0.96 by $0.22. The business had revenue of $265.30 million for 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 earnings per share. On average, analysts forecast that Manhattan Associates will post 3.01 earnings per share for the current year.

Institutional Trading of Manhattan Associates

A number of institutional investors have recently bought and sold shares of the business. CenterBook Partners LP acquired a new position in shares of Manhattan Associates in the 4th quarter valued at $761,000. Russell Investments Group Ltd. grew its holdings in shares of Manhattan Associates by 9.1% in the 4th quarter. Russell Investments Group Ltd. now owns 59,852 shares of the software maker’s stock valued at $12,923,000 after buying an additional 4,986 shares during the period. Highland Capital Management LLC acquired a new position in shares of Manhattan Associates in the 4th quarter valued at $1,142,000. Nomura Asset Management Co. Ltd. grew its holdings in shares of Manhattan Associates by 82.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 26,894 shares of the software maker’s stock valued at $5,791,000 after buying an additional 12,124 shares during the period. Finally, Vinva Investment Management Ltd grew its holdings in shares of Manhattan Associates by 69.5% in the 4th quarter. Vinva Investment Management Ltd now owns 39,571 shares of the software maker’s stock valued at $8,570,000 after buying an additional 16,229 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.