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

Manhattan Associates, Inc. (NASDAQ:MANH) has been given a consensus rating of “Moderate Buy” by the eight brokerages that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $257.43.

A number of research analysts recently issued reports on the company. Citigroup boosted their price objective on Manhattan Associates from $220.00 to $257.00 and gave the company a “neutral” rating in a research report on Friday, June 28th. Rosenblatt Securities reissued a “neutral” rating and set a $225.00 price target on shares of Manhattan Associates in a report on Wednesday, April 24th. DA Davidson increased their price objective on shares of Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. William Blair reissued a “market perform” rating on shares of Manhattan Associates in a research note on Wednesday, April 24th. Finally, StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st.

Manhattan Associates Stock Performance

Shares of NASDAQ:MANH opened at $255.96 on Friday. The company’s fifty day moving average is $240.66 and its two-hundred day moving average is $237.66. Manhattan Associates has a 1-year low of $182.97 and a 1-year high of $266.94. The stock has a market capitalization of $15.76 billion, a price-to-earnings ratio of 83.65 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Tuesday, July 23rd. The software maker reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.22. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The firm had revenue of $265.30 million for the quarter, compared to analyst estimates of $255.83 million. During the same quarter in the prior year, the business earned $0.63 earnings per share. Manhattan Associates’s quarterly revenue was up 14.8% on a year-over-year basis. Sell-side analysts expect that Manhattan Associates will post 3.01 EPS for the current fiscal year.

Insider Transactions at Manhattan Associates

In related news, EVP James Stewart Gantt sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total transaction 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Manhattan Associates by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 6,671,321 shares of the software maker’s stock worth $1,669,365,000 after purchasing an additional 58,905 shares in the last quarter. Franklin Resources Inc. grew its position in Manhattan Associates by 16.8% in the fourth quarter. Franklin Resources Inc. now owns 872,966 shares of the software maker’s stock worth $187,967,000 after buying an additional 125,541 shares during the last quarter. Norges Bank bought a new position in shares of Manhattan Associates in the fourth quarter valued at $146,984,000. TD Asset Management Inc lifted its position in shares of Manhattan Associates by 10.5% during the 1st quarter. TD Asset Management Inc now owns 607,167 shares of the software maker’s stock valued at $151,931,000 after acquiring an additional 57,859 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Manhattan Associates by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 604,115 shares of the software maker’s stock worth $149,023,000 after acquiring an additional 2,156 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

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.