Manhattan Associates (NASDAQ:MANH) Releases Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Manhattan Associates (NASDAQ:MANH) issued its quarterly earnings results on Tuesday. The software maker reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.09, FiscalAI reports. The company had revenue of $306.19 million for the quarter, compared to analyst estimates of $297.01 million. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.

Manhattan Associates Trading Down 1.0%

NASDAQ MANH traded down $2.42 during trading on Tuesday, reaching $233.98. The company’s stock had a trading volume of 860,565 shares, compared to its average volume of 749,589. The stock has a market capitalization of $13.64 billion, a PE ratio of 67.04 and a beta of 0.95. Manhattan Associates has a 1-year low of $119.06 and a 1-year high of $242.63. The business has a 50-day moving average price of $213.57 and a 200-day moving average price of $165.35.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Stifel Nicolaus raised their target price on Manhattan Associates from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 14th. Citigroup upped their price target on shares of Manhattan Associates from $203.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, October 20th. Morgan Stanley upgraded shares of Manhattan Associates from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $180.00 to $250.00 in a research report on Monday, October 12th. Barclays lifted their price objective on shares of Manhattan Associates from $201.00 to $239.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 8th. Finally, DA Davidson downgraded shares of Manhattan Associates from a “buy” rating to a “neutral” rating and set a $210.00 target price on the stock. in a report on Monday, September 28th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $229.33.

Insider Activity at Manhattan Associates

In related news, EVP James Gantt sold 5,139 shares of Manhattan Associates stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $195.53, for a total value of $1,004,828.67. Following the transaction, the executive vice president owned 55,676 shares in the company, valued at $10,886,328.28. This trade represents a 8.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Eric Clark sold 3,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total transaction of $593,280.00. Following the transaction, the chief executive officer directly owned 89,638 shares of the company’s stock, valued at approximately $17,726,810.88. This represents a 3.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.84% of the stock is currently owned by insiders.

About Manhattan Associates

Manhattan Associates, Inc develops supply chain commerce software for retailers, wholesalers, manufacturers and logistics providers. Its solutions help organizations plan, execute and optimize inventory, warehouse, transportation and omnichannel fulfillment operations.

The company’s product portfolio includes warehouse management, transportation management, order management, inventory optimization, labor management and point-of-sale capabilities. Manhattan Associates also provides tools that support warehouse automation, store fulfillment, distributed order management and customer engagement across digital and physical retail channels.

Founded in 1990 and headquartered in Atlanta, Georgia, Manhattan Associates serves customers across North America, Europe, Asia-Pacific and other international markets.