Manhattan Associates (NASDAQ:MANH) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Manhattan Associates (NASDAQ:MANH) from a hold rating to a buy rating in a research note published on Wednesday.

Several other equities analysts have also commented on the company. DA Davidson upped their price target on Manhattan Associates from $260.00 to $285.00 and gave the company a buy rating in a research note on Wednesday. Loop Capital upped their price target on Manhattan Associates from $250.00 to $265.00 and gave the company a buy rating in a research note on Wednesday. William Blair reaffirmed a market perform rating on shares of Manhattan Associates in a research note on Wednesday, April 24th. Citigroup upped their price target on Manhattan Associates from $220.00 to $257.00 and gave the company a neutral rating in a research note on Friday, June 28th. Finally, Redburn Atlantic assumed coverage on Manhattan Associates in a research note on Tuesday, May 14th. They set a buy rating and a $260.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Manhattan Associates presently has a consensus rating of Moderate Buy and a consensus target price of $257.43.

Manhattan Associates Stock Performance

NASDAQ MANH opened at $258.46 on Wednesday. The stock’s fifty day moving average is $233.36 and its two-hundred day moving average is $234.46. The firm has a market capitalization of $15.91 billion, a P/E ratio of 84.46 and a beta of 1.50. Manhattan Associates has a fifty-two week low of $182.97 and a fifty-two week high of $266.94.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results on Tuesday, July 23rd. The software maker reported $1.18 EPS for the quarter, beating the consensus estimate of $0.96 by $0.22. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The business had revenue of $265.30 million for the quarter, compared to analyst estimates of $255.83 million. During the same quarter in the prior year, the company posted $0.63 EPS. The company’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, sell-side analysts forecast that Manhattan Associates will post 3.04 EPS for the current year.

Hedge Funds Weigh In On Manhattan Associates

Hedge funds have recently bought and sold shares of the company. Lindbrook Capital LLC increased its holdings in Manhattan Associates by 28.8% during the 4th quarter. Lindbrook Capital LLC now owns 206 shares of the software maker’s stock worth $44,000 after purchasing an additional 46 shares during the period. Accurate Wealth Management LLC increased its holdings in Manhattan Associates by 4.1% during the 1st quarter. Accurate Wealth Management LLC now owns 1,371 shares of the software maker’s stock worth $343,000 after purchasing an additional 54 shares during the period. UMB Bank n.a. increased its holdings in Manhattan Associates by 25.9% during the 4th quarter. UMB Bank n.a. now owns 282 shares of the software maker’s stock worth $61,000 after purchasing an additional 58 shares during the period. iA Global Asset Management Inc. increased its holdings in Manhattan Associates by 9.7% during the 1st quarter. iA Global Asset Management Inc. now owns 726 shares of the software maker’s stock worth $182,000 after purchasing an additional 64 shares during the period. Finally, Janiczek Wealth Management LLC increased its holdings in Manhattan Associates by 4.6% during the 1st quarter. Janiczek Wealth Management LLC now owns 1,492 shares of the software maker’s stock worth $373,000 after purchasing an additional 65 shares during the period. 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.