Manhattan Associates, Inc. (NASDAQ:MANH) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Manhattan Associates, Inc. (NASDAQ:MANH) has been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the firm, Marketbeat.com 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 target price among brokerages that have covered the stock in the last year is $240.50.

Several research analysts have issued reports on MANH shares. Rosenblatt Securities restated a “neutral” rating and set a $225.00 price target on shares of Manhattan Associates in a report on Wednesday, April 24th. DA Davidson upped their price target on shares of Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. William Blair reissued a “market perform” rating on shares of Manhattan Associates in a research report on Wednesday, April 24th. Redburn Atlantic started coverage on Manhattan Associates in a research report on Tuesday, May 14th. They set a “buy” rating and a $260.00 target price on the stock. Finally, Raymond James raised their target price on Manhattan Associates from $214.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st.

Hedge Funds Weigh In On Manhattan Associates

A number of large investors have recently modified their holdings of the company. Russell Investments Group Ltd. lifted its stake in shares of Manhattan Associates by 9.1% in the fourth quarter. Russell Investments Group Ltd. now owns 59,852 shares of the software maker’s stock valued at $12,923,000 after buying an additional 4,986 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in Manhattan Associates by 59.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 21,612 shares of the software maker’s stock valued at $4,271,000 after purchasing an additional 8,094 shares during the last quarter. Highland Capital Management LLC acquired a new position in Manhattan Associates during the 4th quarter valued at about $1,142,000. Redhawk Wealth Advisors Inc. bought a new stake in Manhattan Associates during the 4th quarter worth approximately $1,050,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Manhattan Associates in the fourth quarter worth approximately $2,039,000. 98.45% of the stock is currently owned by institutional investors.

Manhattan Associates Trading Up 1.2 %

Manhattan Associates stock opened at $228.13 on Monday. Manhattan Associates has a 12 month low of $175.39 and a 12 month high of $266.94. The company has a market capitalization of $14.05 billion, a PE ratio of 74.55 and a beta of 1.45. The stock has a 50-day moving average price of $230.20 and a two-hundred day moving average price of $229.77.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, April 23rd. The software maker reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.23. Manhattan Associates had a net margin of 19.91% and a return on equity of 85.28%. The company had revenue of $254.55 million for the quarter, compared to analyst estimates of $243.32 million. As a group, analysts predict that Manhattan Associates will post 2.72 earnings per share for the current fiscal year.

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.