Manhattan Associates (NASDAQ:MANH) Given Market Perform Rating at William Blair

Manhattan Associates (NASDAQ:MANH)‘s stock had its “market perform” rating restated by stock analysts at William Blair in a research note issued on Wednesday, Zacks.com reports.

A number of other brokerages have also commented on MANH. Truist Financial raised their price target on Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. DA Davidson raised Manhattan Associates from a “neutral” rating to a “buy” rating and raised their price target for the stock from $220.00 to $240.00 in a research note on Thursday. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $225.00 price target on shares of Manhattan Associates in a research note on Wednesday. Raymond James raised their price target on Manhattan Associates from $214.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Finally, Citigroup dropped their price target on Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Manhattan Associates presently has an average rating of “Moderate Buy” and a consensus price target of $234.86.

Manhattan Associates Stock Performance

Shares of Manhattan Associates stock opened at $209.02 on Wednesday. Manhattan Associates has a 52-week low of $164.55 and a 52-week high of $266.94. The stock has a market capitalization of $12.87 billion, a price-to-earnings ratio of 68.31 and a beta of 1.44. The company’s 50 day moving average price is $244.34 and its 200-day moving average price is $226.79.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $238.26 million for the quarter, compared to analysts’ expectations of $223.99 million. As a group, equities research analysts forecast that Manhattan Associates will post 2.81 earnings per share for the current fiscal year.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, CEO Eddie Capel sold 10,897 shares of the firm’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 completion of the transaction, the chief executive officer now owns 242,153 shares of the company’s stock, valued at $59,988,562.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Manhattan Associates news, EVP James Stewart Gantt sold 680 shares of the firm’s stock in a transaction on 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 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 accessible through this link. Also, CEO Eddie Capel sold 10,897 shares of the firm’s stock in a transaction 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 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. Insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Manhattan Associates

Several institutional investors and hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Manhattan Associates by 14.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,161 shares of the software maker’s stock valued at $3,043,000 after acquiring an additional 1,580 shares in the last quarter. Aubrey Capital Management Ltd bought a new position in shares of Manhattan Associates during the first quarter valued at $1,927,000. Assenagon Asset Management S.A. increased its holdings in shares of Manhattan Associates by 758.7% during the first quarter. Assenagon Asset Management S.A. now owns 80,561 shares of the software maker’s stock valued at $20,159,000 after acquiring an additional 71,179 shares in the last quarter. Global Retirement Partners LLC increased its holdings in shares of Manhattan Associates by 82.7% during the first quarter. Global Retirement Partners LLC now owns 592 shares of the software maker’s stock valued at $148,000 after acquiring an additional 268 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its holdings in shares of Manhattan Associates by 2.3% during the first quarter. Louisiana State Employees Retirement System now owns 17,700 shares of the software maker’s stock valued at $4,429,000 after acquiring an additional 400 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors.

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.