Brokerages Set Manhattan Associates, Inc. (NASDAQ:MANH) Price Target at $264.57

by · The Markets Daily

Manhattan Associates, Inc. (NASDAQ:MANH – Get Free Report) has earned a consensus rating of “Moderate Buy” from the eight research firms that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $264.57.

A number of equities research analysts have issued reports on MANH shares. Loop Capital increased their price objective on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. DA Davidson raised their price target on shares of Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Citigroup raised their price target on shares of Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Finally, StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st.

View Our Latest Stock Analysis on Manhattan Associates

Insider Buying and Selling

In related news, EVP James Stewart Gantt sold 6,000 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the sale, the executive vice president now directly owns 46,287 shares in the company, valued at approximately $11,872,615.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MANH. M&G Plc bought a new position in Manhattan Associates during the 1st quarter worth approximately $77,433,000. Epoch Investment Partners Inc. raised its holdings in Manhattan Associates by 110.6% during the 4th quarter. Epoch Investment Partners Inc. now owns 369,352 shares of the software maker’s stock worth $79,529,000 after purchasing an additional 193,951 shares during the last quarter. Fiera Capital Corp bought a new position in Manhattan Associates during the 2nd quarter worth approximately $44,705,000. Squarepoint Ops LLC raised its holdings in Manhattan Associates by 448.9% during the 2nd quarter. Squarepoint Ops LLC now owns 160,649 shares of the software maker’s stock worth $39,629,000 after purchasing an additional 131,381 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado raised its holdings in Manhattan Associates by 1,624.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 113,297 shares of the software maker’s stock worth $24,395,000 after purchasing an additional 106,726 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Down 0.0 %

Shares of Manhattan Associates stock opened at $277.28 on Friday. The company has a market capitalization of $17.07 billion, a price-to-earnings ratio of 90.61 and a beta of 1.50. Manhattan Associates has a 12-month low of $182.97 and a 12-month high of $287.63. The firm’s 50-day moving average price is $261.09 and its two-hundred day moving average price is $241.91.

Manhattan Associates (NASDAQ:MANH – Get Free Report) last announced its quarterly earnings data on Tuesday, July 23rd. The software maker reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.22. The firm had revenue of $265.30 million for the quarter, compared to the consensus estimate of $255.83 million. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 earnings per share. On average, sell-side analysts expect that Manhattan Associates will post 3.01 earnings per share for the current year.

Manhattan Associates Company Profile

(Get Free Report

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.

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