Manhattan Associates (NASDAQ:MANH) Given New $285.00 Price Target at Loop Capital

Manhattan Associates (NASDAQ:MANH) had its target price raised by Loop Capital from $265.00 to $285.00 in a report released on Monday morning, Benzinga reports. They currently have a buy rating on the software maker’s stock.

Several other equities analysts have also recently commented on MANH. DA Davidson lifted their target price on shares of Manhattan Associates from $260.00 to $285.00 and gave the stock a buy rating in a research report on Wednesday, July 24th. StockNews.com lowered Manhattan Associates from a buy rating to a hold rating in a report on Thursday, August 1st. Finally, Citigroup boosted their price objective on Manhattan Associates from $220.00 to $257.00 and gave the stock a neutral rating in a research report on Friday, June 28th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $260.29.

Manhattan Associates Stock Up 2.2 %

MANH stock opened at $275.17 on Monday. The stock’s 50 day moving average is $251.58 and its 200-day moving average is $240.14. Manhattan Associates has a twelve month low of $182.97 and a twelve month high of $278.08. The firm has a market capitalization of $16.94 billion, a PE ratio of 89.92 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, July 23rd. The software maker reported $1.18 EPS for the quarter, beating 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 company had revenue of $265.30 million during the quarter, compared to the consensus estimate of $255.83 million. During the same quarter in the prior year, the company posted $0.63 earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities research analysts anticipate that Manhattan Associates will post 3.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP James Stewart Gantt sold 6,000 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the completion of the transaction, the executive vice president now owns 46,287 shares in the company, valued at approximately $11,872,615.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Manhattan Associates during the fourth quarter worth $146,984,000. TD Asset Management Inc lifted its holdings in Manhattan Associates by 234.2% during the 4th quarter. TD Asset Management Inc now owns 549,308 shares of the software maker’s stock worth $118,277,000 after purchasing an additional 384,941 shares in the last quarter. M&G Plc bought a new position in Manhattan Associates in the 1st quarter worth about $77,433,000. Epoch Investment Partners Inc. grew its holdings in Manhattan Associates by 110.6% during the 4th quarter. Epoch Investment Partners Inc. now owns 369,352 shares of the software maker’s stock valued at $79,529,000 after buying an additional 193,951 shares in the last quarter. Finally, Fiera Capital Corp bought a new stake in shares of Manhattan Associates during the second quarter valued at about $44,705,000. 98.45% of the stock is 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.