Manhattan Associates (NASDAQ:MANH) Stock Rating Reaffirmed by William Blair

Manhattan Associates (NASDAQ:MANH)‘s stock had its “market perform” rating reiterated by equities researchers at William Blair in a research report issued on Wednesday, Zacks.com reports.

MANH has been the topic of several other research reports. Raymond James increased their price target on Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Rosenblatt Securities restated a “neutral” rating and set a $225.00 price target on shares of Manhattan Associates in a report on Wednesday. Truist Financial increased their price target on Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. DA Davidson upgraded Manhattan Associates from a “neutral” rating to a “buy” rating and increased their price target for the company from $220.00 to $240.00 in a report on Thursday. Finally, Citigroup decreased their price target on Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Manhattan Associates currently has an average rating of “Moderate Buy” and a consensus price target of $234.86.

Manhattan Associates Price Performance

Shares of MANH opened at $209.02 on Wednesday. The stock has a market capitalization of $12.87 billion, a price-to-earnings ratio of 68.31 and a beta of 1.44. Manhattan Associates has a 1 year low of $164.55 and a 1 year high of $266.94. The business’s 50 day simple moving average is $244.34 and its 200-day simple moving average is $226.79.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.23. Manhattan Associates had a return on equity of 85.28% and a net margin of 19.91%. The business had revenue of $238.26 million for the quarter, compared to analysts’ expectations of $223.99 million. On average, sell-side analysts expect that Manhattan Associates will post 2.81 earnings per share for the current year.

Insider Buying and Selling at Manhattan Associates

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

Hedge Funds Weigh In On Manhattan Associates

A number of hedge funds and other institutional investors have recently made changes to their positions in MANH. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Manhattan Associates by 59.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 21,612 shares of the software maker’s stock worth $4,271,000 after purchasing an additional 8,094 shares during the last quarter. Highland Capital Management LLC purchased a new stake in shares of Manhattan Associates during the 4th quarter worth $1,142,000. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Manhattan Associates during the 4th quarter worth $1,050,000. Meeder Asset Management Inc. purchased a new stake in shares of Manhattan Associates during the 4th quarter worth $2,039,000. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of Manhattan Associates during the 4th quarter worth $3,725,000. Institutional investors 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.