Manhattan Associates (NASDAQ:MANH) PT Lowered to $220.00 at Citigroup

Manhattan Associates (NASDAQ:MANH) had its target price lowered by investment analysts at Citigroup from $260.00 to $220.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the software maker’s stock. Citigroup’s target price would indicate a potential upside of 6.28% from the company’s current price.

A number of other analysts have also recently commented on the stock. Rosenblatt Securities reaffirmed a “neutral” rating and set a $225.00 target price on shares of Manhattan Associates in a report on Wednesday. Truist Financial raised their target price on shares of Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Finally, Raymond James increased their price objective on shares of Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.57.

Manhattan Associates Trading Down 10.2 %

Shares of MANH stock traded down $23.63 during mid-day trading on Wednesday, reaching $207.00. The stock had a trading volume of 1,017,137 shares, compared to its average volume of 377,820. The stock’s 50-day moving average price is $245.97 and its two-hundred day moving average price is $227.06. Manhattan Associates has a 52-week low of $152.32 and a 52-week high of $266.94. The firm has a market capitalization of $12.74 billion, a PE ratio of 73.59 and a beta of 1.44.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.23. The business had revenue of $238.26 million for the quarter, compared to analysts’ expectations of $223.99 million. Manhattan Associates had a net margin of 19.01% and a return on equity of 84.08%. On average, equities research analysts forecast that Manhattan Associates will post 2.78 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Eddie Capel sold 10,897 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total value of $2,699,513.81. Following the completion of the transaction, the chief executive officer now owns 242,153 shares in the company, valued at $59,988,562.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP James Stewart Gantt sold 680 shares of Manhattan Associates stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total value of $169,211.20. Following the transaction, the executive vice president now directly owns 57,093 shares in the company, valued at approximately $14,207,022.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Eddie Capel sold 10,897 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the sale, the chief executive officer now owns 242,153 shares in the company, valued at $59,988,562.69. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

Institutional Investors Weigh In On Manhattan Associates

Institutional investors and hedge funds have recently made changes to their positions in the business. CWM LLC raised its stake in Manhattan Associates by 22.0% in the 3rd quarter. CWM LLC now owns 997 shares of the software maker’s stock valued at $197,000 after purchasing an additional 180 shares during the last quarter. AE Wealth Management LLC increased its position in Manhattan Associates by 119.8% during the 3rd quarter. AE Wealth Management LLC now owns 3,271 shares of the software maker’s stock worth $647,000 after purchasing an additional 1,783 shares in the last quarter. IFP Advisors Inc boosted its holdings in Manhattan Associates by 6.4% in the 3rd quarter. IFP Advisors Inc now owns 1,250 shares of the software maker’s stock worth $247,000 after acquiring an additional 75 shares during the period. Ritholtz Wealth Management purchased a new position in Manhattan Associates in the 3rd quarter worth approximately $245,000. Finally, Global Retirement Partners LLC boosted its stake in shares of Manhattan Associates by 59.2% during the 3rd quarter. Global Retirement Partners LLC now owns 581 shares of the software maker’s stock valued at $116,000 after buying an additional 216 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

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.