Rosenblatt Securities Reaffirms “Neutral” Rating for Manhattan Associates (NASDAQ:MANH)

Rosenblatt Securities reiterated their neutral rating on shares of Manhattan Associates (NASDAQ:MANH) in a research report report published on Wednesday morning, Benzinga reports. Rosenblatt Securities currently has a $225.00 price target on the software maker’s stock.

Other equities research analysts also recently issued reports about the company. Citigroup started coverage on Manhattan Associates in a research report on Wednesday, March 13th. They set a neutral rating and a $260.00 target price on the stock. Raymond James boosted their target price on Manhattan Associates from $214.00 to $250.00 and gave the stock an outperform rating in a report on Wednesday, January 31st. Finally, Truist Financial boosted their price objective on shares of Manhattan Associates from $240.00 to $260.00 and gave the stock a buy rating in a research report on Wednesday, January 31st. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $234.86.

Manhattan Associates Stock Performance

Manhattan Associates stock opened at $209.02 on Wednesday. The business’s 50-day simple moving average is $243.64 and its 200-day simple moving average is $226.91. The firm has a market capitalization of $12.87 billion, a PE ratio of 68.31 and a beta of 1.44. Manhattan Associates has a 52 week low of $164.55 and a 52 week high of $266.94.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 EPS 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 analyst estimates of $223.99 million. Manhattan Associates had a return on equity of 85.28% and a net margin of 19.91%. Research analysts forecast that Manhattan Associates will post 2.72 earnings per share for the current year.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 680 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 57,093 shares in the company, valued at approximately $14,207,022.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other 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 completion of the transaction, the executive vice president now owns 57,093 shares of the company’s stock, valued at approximately $14,207,022.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Eddie Capel sold 10,897 shares of the company’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 directly owns 242,153 shares of the company’s stock, valued at $59,988,562.69. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Manhattan Associates

A number of large investors have recently modified their holdings of MANH. Norges Bank acquired a new position in shares of Manhattan Associates during the 4th quarter worth about $146,984,000. TD Asset Management Inc boosted its stake in shares of 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 during the last quarter. California Public Employees Retirement System boosted its stake in shares of Manhattan Associates by 184.3% during the 3rd quarter. California Public Employees Retirement System now owns 352,665 shares of the software maker’s stock worth $69,708,000 after buying an additional 228,618 shares during the last quarter. Epoch Investment Partners Inc. boosted its stake in shares of Manhattan Associates by 110.6% during the 4th quarter. Epoch Investment Partners Inc. now owns 369,352 shares of the software maker’s stock worth $79,529,000 after buying an additional 193,951 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Manhattan Associates by 16.8% during the 4th quarter. Franklin Resources Inc. now owns 872,966 shares of the software maker’s stock worth $187,967,000 after buying an additional 125,541 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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.