Citigroup Cuts Manhattan Associates (NASDAQ:MANH) Price Target to $220.00

Manhattan Associates (NASDAQ:MANH) had its price target lowered by Citigroup from $260.00 to $220.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the software maker’s stock.

Several other research firms have also weighed in on MANH. Rosenblatt Securities reaffirmed a neutral rating and issued a $225.00 price objective on shares of Manhattan Associates in a research note on Wednesday. Truist Financial increased their target price on Manhattan Associates from $240.00 to $260.00 and gave the company a buy rating in a research report on Wednesday, January 31st. Finally, Raymond James increased their target price on Manhattan Associates from $214.00 to $250.00 and gave the company an outperform rating in a research report on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $234.86.

Manhattan Associates Stock Performance

MANH opened at $209.02 on Wednesday. The firm has a market cap of $12.87 billion, a P/E 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. The business’s fifty day moving average is $244.34 and its 200-day moving average is $226.79.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, beating the consensus estimate 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%. On average, research analysts predict that Manhattan Associates will post 2.81 earnings per share for the current fiscal year.

Insider Transactions at Manhattan Associates

In other news, CEO Eddie Capel sold 10,897 shares of the firm’s stock in a transaction dated 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 in the company, valued at $59,988,562.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP James Stewart Gantt sold 680 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 57,093 shares of the company’s stock, valued at $14,207,022.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eddie Capel sold 10,897 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total value of $2,699,513.81. Following the sale, 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. 0.72% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Manhattan Associates

Large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. grew its stake in Manhattan Associates by 259.4% in the fourth quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock valued at $25,000 after acquiring an additional 83 shares during the period. Bear Mountain Capital Inc. acquired a new stake in Manhattan Associates in the fourth quarter valued at approximately $26,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Manhattan Associates in the fourth quarter valued at approximately $26,000. Contravisory Investment Management Inc. acquired a new stake in Manhattan Associates in the first quarter valued at approximately $31,000. Finally, Quarry LP acquired a new stake in Manhattan Associates in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

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.