Manhattan Associates (NASDAQ:MANH) Rating Lowered to “Hold” at Wall Street Zen

Manhattan Associates (NASDAQ:MANH) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday, Wall Street Zen reports.

A number of other analysts also recently issued reports on MANH. Truist Financial reiterated a “buy” rating and issued a $305.00 price target (up from $240.00) on shares of Manhattan Associates in a report on Wednesday, October 28th. UBS Group set a $305.00 price objective on shares of Manhattan Associates in a report on Wednesday, October 28th. Weiss Ratings raised shares of Manhattan Associates from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 2nd. Citigroup raised their price objective on Manhattan Associates from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, October 28th. Finally, Stifel Nicolaus lifted their target price on Manhattan Associates from $250.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, October 28th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $261.11.

Manhattan Associates Price Performance

MANH stock opened at $253.22 on Friday. Manhattan Associates has a 1-year low of $119.06 and a 1-year high of $259.76. The business has a 50 day simple moving average of $217.36 and a two-hundred day simple moving average of $167.08. The company has a market capitalization of $14.77 billion, a price-to-earnings ratio of 70.93 and a beta of 0.95.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Tuesday, October 27th. The software maker reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.09. Manhattan Associates had a net margin of 18.41% and a return on equity of 98.67%. The firm had revenue of $306.19 million for the quarter, compared to analysts’ expectations of $297.01 million. During the same quarter last year, the business posted $1.36 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. Sell-side analysts anticipate that Manhattan Associates will post 3.88 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Eric Clark sold 3,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total transaction of $593,280.00. Following the sale, the chief executive officer owned 89,638 shares of the company’s stock, valued at $17,726,810.88. This represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Manhattan Associates

Institutional investors and hedge funds have recently made changes to their positions in the business. Calamos Advisors LLC purchased a new stake in Manhattan Associates in the third quarter worth $3,287,000. Kestra Advisory Services LLC grew its holdings in shares of Manhattan Associates by 344.8% in the third quarter. Kestra Advisory Services LLC now owns 8,456 shares of the software maker’s stock worth $1,680,000 after purchasing an additional 6,555 shares during the last quarter. Genesis Private Wealth LLC purchased a new position in Manhattan Associates in the 3rd quarter worth about $228,000. QTR Family Wealth LLC purchased a new position in Manhattan Associates in the 3rd quarter worth about $232,000. Finally, Capstone Wealth Management LLC purchased a new position in Manhattan Associates in the 3rd quarter worth about $278,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates Company Profile

Manhattan Associates, Inc develops supply chain commerce software for retailers, wholesalers, manufacturers and logistics providers. Its solutions help organizations plan, execute and optimize inventory, warehouse, transportation and omnichannel fulfillment operations.

The company’s product portfolio includes warehouse management, transportation management, order management, inventory optimization, labor management and point-of-sale capabilities. Manhattan Associates also provides tools that support warehouse automation, store fulfillment, distributed order management and customer engagement across digital and physical retail channels.

Founded in 1990 and headquartered in Atlanta, Georgia, Manhattan Associates serves customers across North America, Europe, Asia-Pacific and other international markets.