Manhattan Associates (NASDAQ:MANH) Raised to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Manhattan Associates to “buy” from “hold,” joining a generally positive analyst consensus. Eight analysts rate the stock a Buy and two rate it a Hold, with an average price target of $229.33.
• Manhattan Associates reported quarterly EPS of $1.39, exceeding the $1.32 consensus estimate, while revenue of $297.79 million rose 9.3% year over year and topped expectations.
• The shares opened at $238.19, near their 12-month high of $242.63, with a market capitalization of $13.89 billion and a relatively high P/E ratio of 68.25. Insiders own 0.84% of the stock, while institutional investors hold 98.45%.

Manhattan Associates (NASDAQ:MANH - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday, Wall Street Zen reports.

Several other equities research analysts have also weighed in on MANH. Weiss Ratings upgraded Manhattan Associates from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, October 2nd. Morgan Stanley raised Manhattan Associates from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $180.00 to $250.00 in a research note on Monday, October 12th. Citigroup upped their target price on Manhattan Associates from $203.00 to $260.00 and gave the company a "buy" rating in a research report on Tuesday. Robert W. Baird lifted their target price on shares of Manhattan Associates from $218.00 to $260.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 26th. Finally, Stifel Nicolaus upped their target price on Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, October 14th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $229.33.

Manhattan Associates Price Performance

Shares of MANH opened at $238.19 on Friday. The stock's 50-day moving average is $213.12 and its two-hundred day moving average is $171.81. Manhattan Associates has a 12 month low of $119.06 and a 12 month high of $242.63. The stock has a market cap of $13.89 billion, a PE ratio of 68.25 and a beta of 0.95.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its earnings results on Tuesday, July 28th. The software maker reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $1.32 by $0.07. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%. The company had revenue of $297.79 million for the quarter, compared to the consensus estimate of $289.03 million. During the same quarter last year, the business posted $1.31 EPS. Manhattan Associates's quarterly revenue was up 9.3% compared to the same quarter last year. On average, research analysts anticipate that Manhattan Associates will post 3.87 earnings per share for the current year.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, CEO Eric Clark sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total value of $593,280.00. Following the completion of the transaction, the chief executive officer directly owned 89,638 shares in the company, valued at $17,726,810.88. This represents a 3.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP James Gantt sold 5,139 shares of the firm's stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $195.53, for a total value of $1,004,828.67. Following the completion of the sale, the executive vice president owned 55,676 shares of the company's stock, valued at approximately $10,886,328.28. This represents a 8.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.84% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Allworth Financial LP raised its holdings in shares of Manhattan Associates by 3.1% in the 2nd quarter. Allworth Financial LP now owns 2,587 shares of the software maker's stock valued at $360,000 after purchasing an additional 77 shares during the period. V Square Quantitative Management LLC raised its holdings in shares of Manhattan Associates by 35.9% during the first quarter. V Square Quantitative Management LLC now owns 348 shares of the software maker's stock valued at $46,000 after purchasing an additional 92 shares during the period. NorthCrest Asset Manangement LLC lifted its holdings in shares of Manhattan Associates by 7.4% in the third quarter. NorthCrest Asset Manangement LLC now owns 1,772 shares of the software maker's stock valued at $366,000 after purchasing an additional 122 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Manhattan Associates by 1.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 12,202 shares of the software maker's stock valued at $1,624,000 after purchasing an additional 158 shares in the last quarter. Finally, Parallel Advisors LLC grew its position in Manhattan Associates by 21.6% during the first quarter. Parallel Advisors LLC now owns 907 shares of the software maker's stock valued at $121,000 after buying an additional 161 shares during the period. 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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