Manhattan Associates (NASDAQ:MANH) Price Target Raised to $265.00

Manhattan Associates (NASDAQ:MANH) had its price target lifted by Loop Capital from $250.00 to $265.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a buy rating on the software maker’s stock.

Other research analysts also recently issued research reports about the company. DA Davidson boosted their target price on Manhattan Associates from $260.00 to $285.00 and gave the stock a buy rating in a research note on Wednesday. Citigroup boosted their target price on Manhattan Associates from $220.00 to $257.00 and gave the stock a neutral rating in a research note on Friday, June 28th. Rosenblatt Securities reissued a neutral rating and set a $225.00 target price on shares of Manhattan Associates in a research note on Wednesday, April 24th. StockNews.com downgraded Manhattan Associates from a buy rating to a hold rating in a research note on Monday, May 27th. Finally, Redburn Atlantic started coverage on Manhattan Associates in a research note on Tuesday, May 14th. They issued a buy rating and a $260.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $257.43.

Manhattan Associates Stock Up 4.7 %

MANH stock opened at $258.46 on Wednesday. The company has a market cap of $15.91 billion, a PE ratio of 84.46 and a beta of 1.50. The business has a 50-day simple moving average of $233.36 and a 200 day simple moving average of $234.46. Manhattan Associates has a 52 week low of $182.97 and a 52 week high of $266.94.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, July 23rd. The software maker reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.22. The business had revenue of $265.30 million during the quarter, compared to the consensus estimate of $255.83 million. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. Manhattan Associates’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.63 earnings per share. On average, analysts anticipate that Manhattan Associates will post 3.04 EPS for the current fiscal year.

Institutional Trading of Manhattan Associates

Institutional investors have recently added to or reduced their stakes in the stock. CenterBook Partners LP bought a new stake in Manhattan Associates in the fourth quarter valued at approximately $761,000. Russell Investments Group Ltd. boosted its holdings in 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 acquiring an additional 4,986 shares during the last quarter. Highland Capital Management LLC bought a new stake in Manhattan Associates in the fourth quarter valued at approximately $1,142,000. Nomura Asset Management Co. Ltd. boosted its holdings in Manhattan Associates by 82.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 26,894 shares of the software maker’s stock valued at $5,791,000 after acquiring an additional 12,124 shares during the last quarter. Finally, Vinva Investment Management Ltd boosted its holdings in Manhattan Associates by 69.5% in the fourth quarter. Vinva Investment Management Ltd now owns 39,571 shares of the software maker’s stock valued at $8,570,000 after acquiring an additional 16,229 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

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.