Manhattan Associates (NASDAQ:MANH) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Manhattan Associates (NASDAQ:MANH) from a hold rating to a buy rating in a report released on Friday morning.

MANH has been the topic of several other reports. Piper Sandler initiated coverage on shares of Manhattan Associates in a report on Monday, November 25th. They set an “overweight” rating and a $326.00 price objective on the stock. Truist Financial increased their target price on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Citigroup increased their target price on shares of Manhattan Associates from $287.00 to $306.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. DA Davidson increased their target price on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Loop Capital increased their target price on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Manhattan Associates presently has a consensus rating of “Moderate Buy” and an average price target of $292.89.

Manhattan Associates Trading Up 1.5 %

NASDAQ:MANH opened at $272.84 on Friday. The firm has a market cap of $16.66 billion, a price-to-earnings ratio of 77.51 and a beta of 1.52. The company’s 50-day moving average is $282.61 and its two-hundred day moving average is $268.33. Manhattan Associates has a 12-month low of $199.23 and a 12-month high of $312.60.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.29. The company had revenue of $266.70 million for the quarter, compared to analyst estimates of $262.90 million. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.79 EPS. On average, equities research analysts forecast that Manhattan Associates will post 3.39 earnings per share for the current fiscal year.

Insider Transactions at Manhattan Associates

In other news, EVP James Stewart Gantt sold 3,475 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the sale, the executive vice president now owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. This trade represents a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Bruce Richards sold 4,150 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the sale, the senior vice president now directly owns 22,086 shares of the company’s stock, valued at $6,398,976.78. The trade was a 15.82 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Manhattan Associates

Large investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new position in Manhattan Associates during the second quarter worth $27,000. Ashton Thomas Private Wealth LLC bought a new stake in Manhattan Associates in the second quarter valued at $31,000. Capital Performance Advisors LLP bought a new stake in Manhattan Associates in the third quarter valued at $34,000. Ashton Thomas Securities LLC bought a new stake in Manhattan Associates in the third quarter valued at $42,000. Finally, Carolina Wealth Advisors LLC bought a new stake in Manhattan Associates in the third quarter valued at $50,000. 98.45% of the stock is currently owned by institutional investors.

Manhattan Associates Company Profile

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.