Manhattan Associates (NASDAQ:MANH) Shares Gap Down to $230.63

Manhattan Associates, Inc. (NASDAQ:MANH) gapped down prior to trading on Wednesday . The stock had previously closed at $230.63, but opened at $208.49. Manhattan Associates shares last traded at $210.46, with a volume of 216,900 shares.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MANH. Truist Financial boosted their target price on shares of Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Raymond James boosted their price target on shares of Manhattan Associates from $214.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Citigroup assumed coverage on shares of Manhattan Associates in a research note on Wednesday, March 13th. They set a “neutral” rating and a $260.00 price target for the company. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $225.00 price target on shares of Manhattan Associates in a research note on Wednesday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Manhattan Associates presently has an average rating of “Moderate Buy” and an average price target of $231.29.

Manhattan Associates Price Performance

The business’s 50-day moving average price is $245.97 and its two-hundred day moving average price is $227.06. The company has a market capitalization of $12.87 billion, a P/E ratio of 74.81 and a beta of 1.44.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.23. The firm had revenue of $238.26 million during the quarter, compared to analysts’ expectations of $223.99 million. Manhattan Associates had a return on equity of 84.08% and a net margin of 19.01%. Research analysts expect that Manhattan Associates, Inc. will post 2.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MANH. FMR LLC lifted its position in Manhattan Associates by 2.1% during the 3rd quarter. FMR LLC now owns 1,628,850 shares of the software maker’s stock worth $321,958,000 after buying an additional 33,549 shares in the last quarter. Morgan Stanley boosted its position in Manhattan Associates by 0.9% during the third quarter. Morgan Stanley now owns 1,522,444 shares of the software maker’s stock valued at $300,927,000 after purchasing an additional 13,303 shares during the last quarter. Franklin Resources Inc. grew its stake in Manhattan Associates by 16.8% in the fourth quarter. Franklin Resources Inc. now owns 872,966 shares of the software maker’s stock valued at $187,967,000 after purchasing an additional 125,541 shares in the last quarter. Norges Bank acquired a new position in shares of Manhattan Associates during the 4th quarter worth approximately $146,984,000. Finally, Northern Trust Corp increased its position in shares of Manhattan Associates by 10.5% during the 3rd quarter. Northern Trust Corp now owns 645,187 shares of the software maker’s stock worth $127,528,000 after purchasing an additional 61,437 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.