Manhattan Associates, Inc. (NASDAQ:MANH) Given Average Recommendation of “Buy” by Brokerages

Manhattan Associates, Inc. (NASDAQ:MANH) has earned a consensus rating of “Buy” from the eight analysts that are covering the firm, MarketBeat reports. Seven analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $177.71.

Several equities analysts recently commented on the company. Truist boosted their price target on Manhattan Associates from $172.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday, August 30th. Rosenblatt Securities lifted their target price on Manhattan Associates from $165.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Benchmark raised their price target on shares of Manhattan Associates from $165.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday, August 30th. TheStreet raised shares of Manhattan Associates from a “c+” rating to a “b” rating in a report on Tuesday, July 27th. Finally, Truist Securities lifted their price target on shares of Manhattan Associates from $172.00 to $190.00 and gave the company a “buy” rating in a report on Monday, August 30th.

Manhattan Associates stock traded up $2.01 during midday trading on Thursday, reaching $158.05. The stock had a trading volume of 1,486 shares, compared to its average volume of 353,104. The stock has a market capitalization of $10.02 billion, a PE ratio of 101.33 and a beta of 1.98. The stock’s 50-day simple moving average is $157.13 and its 200 day simple moving average is $140.49. Manhattan Associates has a twelve month low of $83.74 and a twelve month high of $167.75.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Monday, July 26th. The software maker reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.18. Manhattan Associates had a net margin of 15.93% and a return on equity of 46.33%. The firm had revenue of $166.11 million for the quarter, compared to analyst estimates of $156.98 million. During the same quarter last year, the firm posted $0.40 earnings per share. Manhattan Associates’s revenue for the quarter was up 22.5% compared to the same quarter last year. Analysts predict that Manhattan Associates will post 1.49 EPS for the current year.

In other news, Director John J. Huntz, Jr. sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 4th. The shares were sold at an average price of $162.33, for a total value of $811,650.00. Following the completion of the sale, the director now directly owns 64,808 shares of the company’s stock, valued at $10,520,282.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas E. Noonan sold 20,000 shares of the stock in a transaction that occurred on Friday, August 27th. The stock was sold at an average price of $165.66, for a total transaction of $3,313,200.00. Following the completion of the sale, the director now directly owns 107,969 shares of the company’s stock, valued at $17,886,144.54. The disclosure for this sale can be found here. Company insiders own 0.77% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Sowell Financial Services LLC grew its holdings in Manhattan Associates by 1,090.9% during the first quarter. Sowell Financial Services LLC now owns 262 shares of the software maker’s stock valued at $35,000 after purchasing an additional 240 shares during the last quarter. Fifth Third Bancorp grew its holdings in Manhattan Associates by 267.8% during the first quarter. Fifth Third Bancorp now owns 331 shares of the software maker’s stock valued at $39,000 after purchasing an additional 241 shares during the last quarter. Godsey & Gibb Associates acquired a new position in Manhattan Associates during the first quarter valued at approximately $42,000. Advisory Services Network LLC acquired a new position in Manhattan Associates during the second quarter valued at approximately $44,000. Finally, Eagle Bay Advisors LLC acquired a new stake in shares of Manhattan Associates in the second quarter worth $48,000. 96.61% of the stock is currently owned by hedge funds and other institutional investors.

About Manhattan Associates

Manhattan Associates, Inc engages in designing, building and delivering supply chain commerce solutions by converging front-end sales with back-end supply chain. It operates through the following geographical segments: The Americas, Europe, Middle East and Africa and Asia Pacific. The company was founded by Deepak Raghavan in October 1990 and is headquartered in Atlanta, GA.

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Analyst Recommendations for Manhattan Associates (NASDAQ:MANH)

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