Manhattan Associates (NASDAQ:MANH) Hits New 52-Week High – What’s Next?

Manhattan Associates, Inc. (NASDAQ:MANH) shares hit a new 52-week high on Wednesday. The company traded as high as $261.01 and last traded at $259.6550, with a volume of 25,014 shares changing hands. The stock had previously closed at $255.14.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Stifel Nicolaus upped their target price on Manhattan Associates from $250.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, October 28th. Barclays lifted their price target on Manhattan Associates from $239.00 to $275.00 and gave the stock an “overweight” rating in a research report on Monday. Morgan Stanley upgraded Manhattan Associates from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $180.00 to $250.00 in a research note on Monday, October 12th. Wall Street Zen lowered Manhattan Associates from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Robert W. Baird raised their price objective on Manhattan Associates from $218.00 to $260.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 26th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Manhattan Associates currently has a consensus rating of “Moderate Buy” and an average price target of $261.11.

Manhattan Associates Price Performance

The company has a market capitalization of $15.26 billion, a PE ratio of 73.56 and a beta of 0.85. The firm’s fifty day simple moving average is $218.20 and its 200 day simple moving average is $167.48.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Tuesday, October 27th. The software maker reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.09. The business had revenue of $306.19 million during the quarter, compared to analyst estimates of $297.01 million. Manhattan Associates had a return on equity of 98.67% and a net margin of 18.41%. The company’s revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the business posted $1.36 EPS. On average, equities research analysts anticipate that Manhattan Associates, Inc. will post 3.88 EPS for the current fiscal year.

Insider Activity at Manhattan Associates

In related news, CEO Eric Clark sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total transaction of $593,280.00. Following the sale, the chief executive officer directly 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.84% of the stock is owned by insiders.

Institutional Investors Weigh In On Manhattan Associates

Several hedge funds have recently bought and sold shares of MANH. NBH Bank acquired a new stake in shares of Manhattan Associates during the 2nd quarter worth approximately $37,000. Versant Capital Management Inc lifted its stake 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 valued at $38,000 after purchasing an additional 229 shares during the period. V Square Quantitative Management LLC boosted its holdings in Manhattan Associates by 35.9% during the first quarter. V Square Quantitative Management LLC now owns 348 shares of the software maker’s stock worth $46,000 after buying an additional 92 shares in the last quarter. Compass Wealth Management LLC purchased a new stake in Manhattan Associates during the third quarter worth $69,000. Finally, Root Financial Partners LLC acquired a new stake in Manhattan Associates during the third quarter valued at $71,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Company Profile

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.