Manhattan Associates (NASDAQ:MANH) PT Raised to $287.00

Manhattan Associates (NASDAQ:MANH) had its price target increased by research analysts at Citigroup from $257.00 to $287.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the software maker’s stock. Citigroup’s price objective suggests a potential upside of 1.12% from the company’s previous close.

Several other research firms have also recently commented on MANH. DA Davidson upped their target price 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 upped their price objective on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Finally, StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $264.57.

Manhattan Associates Stock Down 0.1 %

NASDAQ:MANH opened at $283.81 on Wednesday. The company’s 50 day moving average is $257.21 and its 200-day moving average is $241.25. The firm has a market cap of $17.47 billion, a price-to-earnings ratio of 92.75 and a beta of 1.50. Manhattan Associates has a 12 month low of $182.97 and a 12 month high of $287.63.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, July 23rd. The software maker reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.22. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The company had revenue of $265.30 million for the quarter, compared to the consensus estimate of $255.83 million. During the same period last year, the business posted $0.63 earnings per share. The firm’s revenue was up 14.8% compared to the same quarter last year. Research analysts predict that Manhattan Associates will post 3.01 EPS for the current fiscal year.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 46,287 shares in the company, valued at $11,872,615.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.72% of the company’s stock.

Institutional Trading of Manhattan Associates

Large investors have recently made changes to their positions in the business. TD Asset Management Inc lifted its holdings in Manhattan Associates by 234.2% during the 4th quarter. TD Asset Management Inc now owns 549,308 shares of the software maker’s stock worth $118,277,000 after buying an additional 384,941 shares in the last quarter. M&G Plc bought a new position in Manhattan Associates in the first quarter valued at about $77,433,000. Epoch Investment Partners Inc. increased its position in Manhattan Associates by 110.6% in the fourth quarter. Epoch Investment Partners Inc. now owns 369,352 shares of the software maker’s stock worth $79,529,000 after purchasing an additional 193,951 shares during the period. Fiera Capital Corp acquired a new stake in Manhattan Associates in the second quarter worth about $44,705,000. Finally, Squarepoint Ops LLC raised its holdings in Manhattan Associates by 448.9% during the 2nd quarter. Squarepoint Ops LLC now owns 160,649 shares of the software maker’s stock worth $39,629,000 after purchasing an additional 131,381 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

About Manhattan Associates

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.