Manhattan Associates (NASDAQ:MANH) Stock Rating Raised to “Buy” at Wall Street Zen

Manhattan Associates (NASDAQ:MANH) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday, Wall Street Zen reports.

MANH has been the topic of several other reports. Morgan Stanley upgraded shares of Manhattan Associates from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $180.00 to $250.00 in a report on Monday, October 12th. Citigroup upped their price objective on Manhattan Associates from $203.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday. DA Davidson downgraded Manhattan Associates from a “buy” rating to a “neutral” rating and set a $210.00 price target for the company. in a report on Monday, September 28th. UBS Group reissued a “buy” rating on shares of Manhattan Associates in a report on Wednesday, October 14th. Finally, Barclays lifted their target price on Manhattan Associates from $201.00 to $239.00 and gave the company an “overweight” rating in a report on Tuesday, September 8th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $229.33.

Manhattan Associates Price Performance

NASDAQ MANH opened at $238.19 on Friday. The business’s 50-day moving average is $213.12 and its 200 day moving average is $171.81. The stock has a market capitalization of $13.89 billion, a PE ratio of 68.25 and a beta of 0.95. Manhattan Associates has a 1 year low of $119.06 and a 1 year high of $242.63.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.39 EPS for the quarter, topping the consensus estimate of $1.32 by $0.07. Manhattan Associates had a net margin of 18.67% and a return on equity of 86.72%. The business had revenue of $297.79 million for the quarter, compared to analyst estimates of $289.03 million. During the same quarter in the previous year, the firm posted $1.31 earnings per share. Manhattan Associates’s quarterly revenue was up 9.3% on a year-over-year basis. As a group, equities research analysts anticipate that Manhattan Associates will post 3.87 earnings per share for the current year.

Insider Transactions at Manhattan Associates

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MANH. BlackRock Inc. purchased a new position in Manhattan Associates in the second quarter valued at about $944,285,000. Swedbank AB grew its holdings in Manhattan Associates by 25.0% in the 1st quarter. Swedbank AB now owns 1,500,000 shares of the software maker’s stock worth $199,680,000 after acquiring an additional 300,000 shares during the last quarter. William Blair Investment Management LLC purchased a new position in shares of Manhattan Associates during the second quarter valued at about $94,049,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Manhattan Associates by 2.0% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,608 shares of the software maker’s stock valued at $89,671,000 after purchasing an additional 13,128 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position in Manhattan Associates by 6.2% in the 1st quarter. Bessemer Group Inc. now owns 670,427 shares of the software maker’s stock valued at $89,247,000 after acquiring an additional 39,125 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

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.