Manhattan Associates (NASDAQ:MANH) Given New $305.00 Price Target at Raymond James

Manhattan Associates (NASDAQ:MANH) had its price objective upped by Raymond James from $255.00 to $305.00 in a research note published on Wednesday, Benzinga reports. They currently have an outperform rating on the software maker’s stock.

MANH has been the subject of several other reports. DA Davidson raised their price target on shares of Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Loop Capital raised their price target on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a report on Monday, September 16th. Truist Financial raised their price target on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a report on Friday, October 11th. Finally, Robert W. Baird lifted their price objective on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $286.38.

Manhattan Associates Trading Up 0.8 %

Manhattan Associates stock opened at $275.70 on Wednesday. Manhattan Associates has a 1-year low of $186.77 and a 1-year high of $307.50. The firm has a market capitalization of $16.89 billion, a price-to-earnings ratio of 78.32 and a beta of 1.50. The firm has a 50 day simple moving average of $274.95 and a 200 day simple moving average of $247.04.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.29. Manhattan Associates had a net margin of 21.38% and a return on equity of 86.65%. The business had revenue of $266.70 million during the quarter, compared to analyst estimates of $262.90 million. During the same period in the previous year, the business earned $0.79 EPS. Manhattan Associates’s revenue was up 11.9% compared to the same quarter last year. On average, equities research analysts forecast that Manhattan Associates will post 3.01 EPS for the current year.

Insider Buying and Selling

In related news, EVP James Stewart Gantt sold 6,000 shares of Manhattan Associates stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total value of $1,539,000.00. Following the transaction, the executive vice president now owns 46,287 shares in the company, valued at $11,872,615.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Manhattan Associates

Hedge funds have recently modified their holdings of the company. Tobam purchased a new position in shares of Manhattan Associates in the first quarter valued at about $25,000. Innealta Capital LLC bought a new position in shares of Manhattan Associates in the second quarter worth approximately $26,000. International Assets Investment Management LLC bought a new position in shares of Manhattan Associates in the second quarter worth approximately $27,000. DT Investment Partners LLC bought a new position in Manhattan Associates during the second quarter valued at approximately $31,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Manhattan Associates during the second quarter valued at approximately $31,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Company Profile

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.