Manhattan Associates (NASDAQ:MANH) Upgraded to “Buy” at DA Davidson

DA Davidson upgraded shares of Manhattan Associates (NASDAQ:MANH) from a neutral rating to a buy rating in a research note released on Thursday morning, Marketbeat.com reports. The firm currently has $240.00 price objective on the software maker’s stock, up from their prior price objective of $220.00. DA Davidson also issued estimates for Manhattan Associates’ Q2 2024 earnings at $0.70 EPS, FY2024 earnings at $2.90 EPS and FY2025 earnings at $3.60 EPS.

Other analysts have also issued reports about the stock. Raymond James increased their target price on shares of Manhattan Associates from $214.00 to $250.00 and gave the stock an outperform rating in a report on Wednesday, January 31st. Rosenblatt Securities reiterated a neutral rating and set a $225.00 target price on shares of Manhattan Associates in a report on Wednesday. Citigroup dropped their target price on shares of Manhattan Associates from $260.00 to $220.00 and set a neutral rating for the company in a report on Wednesday. Finally, Truist Financial increased their target price on shares of Manhattan Associates from $240.00 to $260.00 and gave the stock a buy rating in a report on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Manhattan Associates currently has an average rating of Moderate Buy and an average price target of $234.86.

Manhattan Associates Stock Up 1.0 %

NASDAQ MANH opened at $208.30 on Thursday. The company has a 50-day simple moving average of $245.12 and a two-hundred day simple moving average of $226.92. Manhattan Associates has a 12-month low of $163.43 and a 12-month high of $266.94. The firm has a market cap of $12.83 billion, a price-to-earnings ratio of 68.07 and a beta of 1.44.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.23. Manhattan Associates had a net margin of 19.91% and a return on equity of 85.28%. The business had revenue of $238.26 million during the quarter, compared to analyst estimates of $223.99 million. Equities analysts expect that Manhattan Associates will post 2.81 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Manhattan Associates

Institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. increased its stake in shares of Manhattan Associates by 259.4% during the fourth quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock valued at $25,000 after purchasing an additional 83 shares in the last quarter. Bear Mountain Capital Inc. purchased a new stake in shares of Manhattan Associates during the fourth quarter valued at approximately $26,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Manhattan Associates during the fourth quarter valued at approximately $26,000. Contravisory Investment Management Inc. purchased a new stake in shares of Manhattan Associates during the first quarter valued at approximately $31,000. Finally, Rise Advisors LLC purchased a new stake in shares of Manhattan Associates during the first quarter valued at approximately $40,000. Institutional investors 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.