Manhattan Associates (NASDAQ:MANH) Downgraded by Wall Street Zen to Hold

Key Points

• Wall Street Zen downgraded Manhattan Associates from “Buy” to “Hold,” although the broader analyst consensus remains “Moderate Buy,” with eight Buy ratings, two Holds, and an average price target of $257.11.
• Manhattan Associates reported quarterly earnings of $1.55 per share, exceeding the $1.46 consensus estimate, while revenue rose 11% year over year to $306.19 million.
• The stock was trading near its 52-week high at $248.39, with a market capitalization of $14.48 billion; institutional investors own approximately 98.45% of outstanding shares.

Manhattan Associates (NASDAQ:MANH - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Sunday, Wall Street Zen reports.

Several other research firms also recently issued reports on MANH. Weiss Ratings upgraded Manhattan Associates from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, October 2nd. Truist Financial reiterated a "buy" rating and issued a $305.00 price target (up from $240.00) on shares of Manhattan Associates in a research report on Wednesday. Morgan Stanley upgraded Manhattan Associates from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $180.00 to $250.00 in a research note on Monday, October 12th. Barclays boosted their price objective on Manhattan Associates from $201.00 to $239.00 and gave the company an "overweight" rating in a research note on Tuesday, September 8th. Finally, Stifel Nicolaus increased their price objective on Manhattan Associates from $250.00 to $300.00 and gave the stock a "buy" rating in a report on Wednesday. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $257.11.

Manhattan Associates Trading Up 3.1%

MANH opened at $248.39 on Friday. Manhattan Associates has a 1-year low of $119.06 and a 1-year high of $254.00. The company has a market cap of $14.48 billion, a P/E ratio of 69.58 and a beta of 0.95. The company has a fifty day moving average price of $216.59 and a two-hundred day moving average price of $166.68.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its earnings results on Tuesday, October 27th. The software maker reported $1.55 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $0.09. Manhattan Associates had a return on equity of 98.67% and a net margin of 18.41%. The company had revenue of $306.19 million for the quarter, compared to analyst estimates of $297.01 million. During the same quarter last year, the company earned $1.36 earnings per share. The company's revenue for the quarter was up 11.0% on a year-over-year basis. On average, research analysts forecast that Manhattan Associates will post 3.88 EPS for the current fiscal year.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, CEO Eric Clark sold 3,000 shares of the firm's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total value of $593,280.00. Following the completion of the sale, the chief executive officer directly owned 89,638 shares in the company, valued at $17,726,810.88. This trade represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.84% of the company's stock.

Hedge Funds Weigh In On Manhattan Associates

Several large investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of Manhattan Associates during the second quarter worth about $944,285,000. Swedbank AB boosted its position in shares of Manhattan Associates by 25.0% in the 1st quarter. Swedbank AB now owns 1,500,000 shares of the software maker's stock valued at $199,680,000 after purchasing an additional 300,000 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Manhattan Associates by 0.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 711,615 shares of the software maker's stock valued at $141,398,000 after purchasing an additional 3,658 shares during the period. William Blair Investment Management LLC purchased a new position in Manhattan Associates during the 2nd quarter worth approximately $94,049,000. Finally, Bessemer Group Inc. grew its stake in Manhattan Associates by 6.2% during the 1st quarter. Bessemer Group Inc. now owns 670,427 shares of the software maker's stock worth $89,247,000 after buying an additional 39,125 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

About Manhattan Associates

Manhattan Associates, Inc develops supply chain commerce software for retailers, wholesalers, manufacturers and logistics providers. Its solutions help organizations plan, execute and optimize inventory, warehouse, transportation and omnichannel fulfillment operations.

The company's product portfolio includes warehouse management, transportation management, order management, inventory optimization, labor management and point-of-sale capabilities. Manhattan Associates also provides tools that support warehouse automation, store fulfillment, distributed order management and customer engagement across digital and physical retail channels.

Founded in 1990 and headquartered in Atlanta, Georgia, Manhattan Associates serves customers across North America, Europe, Asia-Pacific and other international markets.

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