Manhattan Associates (NASDAQ:MANH) Given Neutral Rating at Rosenblatt Securities

Rosenblatt Securities restated their neutral rating on shares of Manhattan Associates (NASDAQ:MANH) in a research report sent to investors on Monday, Benzinga reports. The firm currently has a $225.00 price target on the software maker’s stock.

A number of other research analysts also recently issued reports on the stock. Truist Financial lifted their price objective on shares of Manhattan Associates from $240.00 to $260.00 and gave the stock a buy rating in a research report on Wednesday, January 31st. Raymond James lifted their price target on shares of Manhattan Associates from $214.00 to $250.00 and gave the stock an outperform rating in a report on Wednesday, January 31st. Finally, Citigroup began coverage on Manhattan Associates in a research report on Wednesday, March 13th. They set a neutral rating and a $260.00 price target on the stock. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Manhattan Associates has an average rating of Moderate Buy and an average price target of $231.29.

Manhattan Associates Trading Down 1.2 %

Shares of NASDAQ:MANH opened at $228.43 on Monday. The company has a market capitalization of $14.06 billion, a PE ratio of 81.00 and a beta of 1.44. Manhattan Associates has a 12-month low of $152.32 and a 12-month high of $266.94. The business’s fifty day simple moving average is $247.43 and its 200-day simple moving average is $226.06.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.23. Manhattan Associates had a return on equity of 84.08% and a net margin of 19.01%. The company had revenue of $238.26 million for the quarter, compared to the consensus estimate of $223.99 million. Research analysts predict that Manhattan Associates will post 2.78 EPS for the current year.

Insider Buying and Selling

In other Manhattan Associates news, CEO Eddie Capel sold 10,897 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the transaction, the chief executive officer now owns 242,153 shares in the company, valued at approximately $59,988,562.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP James Stewart Gantt sold 680 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total value of $169,211.20. Following the transaction, the executive vice president now directly owns 57,093 shares of the company’s stock, valued at $14,207,022.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eddie Capel sold 10,897 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total value of $2,699,513.81. Following the completion of the transaction, the chief executive officer now owns 242,153 shares of the company’s stock, valued at $59,988,562.69. The disclosure for this sale can be found here. 0.85% of the stock is owned by company insiders.

Hedge Funds Weigh In On Manhattan Associates

Several hedge funds and other institutional investors have recently bought and sold shares of MANH. Blue Trust Inc. boosted its holdings in shares of Manhattan Associates by 259.4% in the 4th quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock valued at $25,000 after acquiring an additional 83 shares during the last quarter. Bear Mountain Capital Inc. purchased a new stake in Manhattan Associates in the fourth quarter valued at $26,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Manhattan Associates during the 4th quarter worth about $26,000. Contravisory Investment Management Inc. purchased a new position in shares of Manhattan Associates during the 1st quarter valued at about $31,000. Finally, Eagle Bay Advisors LLC acquired a new position in shares of Manhattan Associates in the 2nd quarter valued at about $36,000. 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.