Manhattan Associates (NASDAQ:MANH) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Key Points

• Stifel Nicolaus raised Manhattan Associates’ price target from $225 to $250 and maintained a “buy” rating, implying 12.25% potential upside. Analysts overall rate the stock “Moderate Buy,” with a consensus target of $223.70.
• Manhattan Associates shares rose 2.2% to $222.71, near their 52-week high of $227.03. The company recently beat quarterly estimates, reporting $1.39 in EPS versus $1.32 expected and revenue of $297.79 million.
• Institutional investors own 98.45% of the company, while recent insider transactions included stock sales by the CEO and an executive vice president.

Manhattan Associates (NASDAQ:MANH - Get Free Report) had its price objective raised by equities research analysts at Stifel Nicolaus from $225.00 to $250.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the software maker's stock. Stifel Nicolaus' target price would indicate a potential upside of 12.25% from the company's previous close.

Several other research analysts have also recently issued reports on MANH. Barclays raised their target price on shares of Manhattan Associates from $201.00 to $239.00 and gave the stock an "overweight" rating in a report on Tuesday, September 8th. Citigroup upped their price target on shares of Manhattan Associates from $177.00 to $193.00 and gave the company a "buy" rating in a report on Tuesday, July 21st. Robert W. Baird increased their price target on shares of Manhattan Associates from $218.00 to $260.00 and gave the company an "outperform" rating in a research report on Wednesday, August 26th. DA Davidson cut shares of Manhattan Associates from a "buy" rating to a "neutral" rating and set a $210.00 price target for the company. in a research report on Monday, September 28th. Finally, Morgan Stanley raised shares of Manhattan Associates from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $180.00 to $250.00 in a report on Monday. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $223.70.

Manhattan Associates Trading Up 2.2%

NASDAQ MANH opened at $222.71 on Wednesday. Manhattan Associates has a 1-year low of $119.06 and a 1-year high of $227.03. The stock has a 50-day moving average of $207.44 and a 200-day moving average of $166.56. The firm has a market cap of $12.99 billion, a PE ratio of 63.81 and a beta of 0.95.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.07. The business had revenue of $297.79 million for the quarter, compared to analyst estimates of $289.03 million. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%. Manhattan Associates's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the company earned $1.31 EPS. As a group, equities research analysts forecast that Manhattan Associates will post 3.86 earnings per share for the current fiscal year.

Insider Activity at Manhattan Associates

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

Institutional Investors Weigh In On Manhattan Associates

Large investors have recently modified their holdings of the stock. NBH Bank bought a new stake in Manhattan Associates during the second quarter worth about $37,000. Versant Capital Management Inc grew its holdings in Manhattan Associates by 508.9% in the second quarter. Versant Capital Management Inc now owns 274 shares of the software maker's stock worth $38,000 after purchasing an additional 229 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new stake in Manhattan Associates in the fourth quarter worth about $55,000. V Square Quantitative Management LLC increased its stake 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 in the last quarter. Finally, Northwestern Mutual Wealth Management Co. bought a new position in shares of Manhattan Associates during the second quarter valued at approximately $62,000. Institutional investors own 98.45% of the company's stock.

About Manhattan Associates

Manhattan Associates, Inc develops cloud-based software designed to help businesses manage supply chains, inventory, warehouse operations, transportation, and omnichannel commerce. Its solutions are used by retailers, wholesalers, manufacturers, distributors, logistics providers, and other organizations seeking to coordinate products, orders, labor, and fulfillment activities.

The company's product portfolio includes Manhattan Active Warehouse Management, Manhattan Active Transportation Management, Manhattan Active Order Management, and related tools for inventory optimization, workforce management, customer engagement, and point-of-sale operations.

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