Brokerages Set Manhattan Associates, Inc. (NASDAQ:MANH) Price Target at $213.40

Manhattan Associates, Inc. (NASDAQ:MANH) has earned a consensus rating of “Moderate Buy” from the eleven research firms that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $213.40.

Several equities analysts have commented on MANH shares. Morgan Stanley set a $180.00 price target on Manhattan Associates in a report on Wednesday, July 29th. Wall Street Zen cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. DA Davidson upped their price objective on shares of Manhattan Associates from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Citigroup raised their target price on shares of Manhattan Associates from $177.00 to $193.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Finally, Barclays dropped their target price on shares of Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating on the stock in a report on Friday, May 29th.

Manhattan Associates Stock Up 0.3%

NASDAQ MANH opened at $216.77 on Monday. The stock has a market capitalization of $12.64 billion, a PE ratio of 62.11 and a beta of 0.95. The company has a 50 day moving average price of $179.29 and a two-hundred day moving average price of $152.74. Manhattan Associates has a 12-month low of $119.06 and a 12-month high of $227.03.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.07. The company had revenue of $297.79 million for the quarter, compared to analyst estimates of $289.03 million. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.The business’s revenue was up 9.3% compared to the same quarter last year. During the same period last year, the company earned $1.31 earnings per share. As a group, equities analysts anticipate that Manhattan Associates will post 3.87 EPS for the current year.

Insider Activity

In other news, CEO Eric Andrew Clark sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total value of $593,280.00. Following the sale, the chief executive officer directly owned 89,638 shares of the company’s stock, valued at approximately $17,726,810.88. This trade represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP James Stewart Gantt sold 5,139 shares of Manhattan Associates stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $195.53, for a total value of $1,004,828.67. Following the completion of the transaction, the executive vice president owned 55,676 shares in the company, valued at $10,886,328.28. The trade was a 8.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 9,139 shares of company stock worth $1,744,879. 0.84% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MANH. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Manhattan Associates by 448.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 137 shares of the software maker’s stock worth $28,000 after buying an additional 112 shares during the last quarter. NBH Bank acquired a new stake in shares of Manhattan Associates in the second quarter worth $37,000. Versant Capital Management Inc grew its stake in shares of Manhattan Associates by 508.9% in the second quarter. Versant Capital Management Inc now owns 274 shares of the software maker’s stock worth $38,000 after acquiring an additional 229 shares during the last quarter. BNP Paribas bought a new position in Manhattan Associates during the fourth quarter worth $39,000. Finally, TD Private Client Wealth LLC increased its position in Manhattan Associates by 83.8% during the fourth quarter. TD Private Client Wealth LLC now owns 239 shares of the software maker’s stock worth $41,000 after acquiring an additional 109 shares during the period. 98.45% of the stock is owned by institutional investors.

About Manhattan Associates

Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.