Manhattan Associates, Inc. (NASDAQ:MANH) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Manhattan Associates, Inc. (NASDAQ:MANH) have earned a consensus recommendation of “Moderate Buy” from the eleven research firms that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $213.40.

Several equities analysts recently commented on the stock. Citigroup upped their price target on shares of Manhattan Associates from $177.00 to $193.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Wall Street Zen downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Stifel Nicolaus boosted their target price on Manhattan Associates from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Barclays cut their target price on Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating on the stock in a research note on Friday, May 29th. Finally, Morgan Stanley set a $180.00 price target on Manhattan Associates in a research note on Wednesday, July 29th.

Insider Buying and Selling at Manhattan Associates

In other news, CEO Eric Clark sold 3,000 shares of Manhattan Associates 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 completion of the sale, the chief executive officer directly owned 89,638 shares in the company, valued at approximately $17,726,810.88. This trade represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James Gantt sold 5,139 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $10,886,328.28. This represents a 8.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 9,139 shares of company stock valued at $1,744,879. Corporate insiders own 0.84% of the company’s stock.

Institutional Trading of Manhattan Associates

A number of large investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Manhattan Associates by 72.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,245 shares of the software maker’s stock worth $2,124,000 after buying an additional 5,128 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Manhattan Associates by 9.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 500,068 shares of the software maker’s stock worth $86,532,000 after buying an additional 41,571 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Manhattan Associates during the first quarter valued at $987,000. Focus Partners Wealth increased its stake in shares of Manhattan Associates by 181.4% during the first quarter. Focus Partners Wealth now owns 2,400 shares of the software maker’s stock valued at $415,000 after buying an additional 1,547 shares during the period. Finally, Sivia Capital Partners LLC purchased a new position in shares of Manhattan Associates during the second quarter valued at $446,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Down 3.9%

Shares of MANH opened at $213.77 on Monday. The business has a fifty day moving average of $182.70 and a 200 day moving average of $153.74. The company has a market cap of $12.46 billion, a PE ratio of 61.25 and a beta of 0.95. Manhattan Associates has a 52-week low of $119.06 and a 52-week high of $227.03.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $289.03 million. During the same quarter in the previous year, the business posted $1.31 earnings per share. The business’s revenue was up 9.3% compared to the same quarter last year. As a group, research analysts anticipate that Manhattan Associates will post 3.87 earnings per share for the current fiscal year.

About Manhattan Associates

Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.