Manhattan Associates, Inc. (NASDAQ:MANH) Stock Has Average Price Target of $223.70

Shares of Manhattan Associates, Inc. (NASDAQ:MANH) have received an average recommendation of “Moderate Buy” from the ten analysts that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $229.33.

Several equities research analysts have commented on MANH shares. Citigroup raised their price target on shares of Manhattan Associates from $203.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday. UBS Group reissued a “buy” rating on shares of Manhattan Associates in a research note on Wednesday, October 14th. Wall Street Zen raised Manhattan Associates from a “hold” rating to a “buy” rating in a research note on Saturday. Barclays lifted their price objective on shares of Manhattan Associates from $201.00 to $239.00 and gave the company an “overweight” rating in a research note on Tuesday, September 8th. Finally, DA Davidson cut shares of Manhattan Associates from a “buy” rating to a “neutral” rating and set a $210.00 price objective on the stock. in a research note on Monday, September 28th.

Manhattan Associates Stock Down 1.6%

Shares of NASDAQ:MANH opened at $238.19 on Tuesday. The company has a market cap of $13.89 billion, a PE ratio of 68.25 and a beta of 0.95. Manhattan Associates has a fifty-two week low of $119.06 and a fifty-two week high of $242.63. The firm has a 50-day simple moving average of $213.12 and a 200 day simple moving average of $171.81.

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

Insider Transactions at Manhattan Associates

In other news, CEO Eric Clark sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total value of $593,280.00. Following the completion of the sale, 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. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP James Gantt sold 5,139 shares of the 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 completion of the transaction, the executive vice president owned 55,676 shares of the company’s stock, valued at $10,886,328.28. This trade represents a 8.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.84% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Manhattan Associates

Hedge funds and other institutional investors have recently bought and sold shares of the business. NBH Bank bought a new position in shares of Manhattan Associates during the 2nd quarter valued at about $37,000. Versant Capital Management Inc raised its holdings in shares of Manhattan Associates by 508.9% in the 2nd quarter. Versant Capital Management Inc now owns 274 shares of the software maker’s stock worth $38,000 after purchasing an additional 229 shares in the last quarter. V Square Quantitative Management LLC raised its holdings in shares of Manhattan Associates by 35.9% in the 1st quarter. V Square Quantitative Management LLC now owns 348 shares of the software maker’s stock worth $46,000 after purchasing an additional 92 shares in the last quarter. Compass Wealth Management LLC acquired a new stake in Manhattan Associates during the third quarter valued at approximately $69,000. Finally, Root Financial Partners LLC acquired a new stake in Manhattan Associates during the third quarter valued at approximately $71,000. 98.45% of the stock is currently owned by institutional investors.

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.