Manhattan Associates (NASDAQ:MANH) Downgraded by DA Davidson to Neutral

Manhattan Associates (NASDAQ:MANH - Get Free Report) was downgraded by research analysts at DA Davidson from a "buy" rating to a "neutral" rating in a note issued to investors on Monday, Marketbeat Ratings reports. They currently have a $210.00 price objective on the software maker's stock. DA Davidson's price target indicates a potential upside of 5.00% from the stock's previous close.

MANH has been the topic of several other research reports. Barclays raised their price objective on shares of Manhattan Associates from $201.00 to $239.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 8th. Morgan Stanley set a $180.00 price target on shares of Manhattan Associates in a research report on Wednesday, July 29th. Citigroup raised their price objective on Manhattan Associates from $177.00 to $193.00 and gave the stock a "buy" rating in a research report on Tuesday, July 21st. UBS Group set a $210.00 price objective on Manhattan Associates in a research report on Monday. Finally, Stifel Nicolaus upped their target price on Manhattan Associates from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, July 29th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Manhattan Associates currently has a consensus rating of "Moderate Buy" and a consensus target price of $214.20.

Manhattan Associates Trading Down 2.9%

NASDAQ:MANH opened at $200.00 on Monday. The firm has a market capitalization of $11.66 billion, a PE ratio of 57.31 and a beta of 0.95. Manhattan Associates has a 1 year low of $119.06 and a 1 year high of $227.03. The firm's fifty day simple moving average is $199.27 and its 200 day simple moving average is $160.91.

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

Insiders Place Their Bets

In related news, EVP James Gantt sold 5,139 shares of the business's stock in a transaction that occurred 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 completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Eric Clark sold 3,000 shares of the stock in a transaction on 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 transaction, the chief executive officer owned 89,638 shares in the company, valued at $17,726,810.88. The trade was a 3.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.84% of the company's stock.

Institutional Investors Weigh In On Manhattan Associates

Institutional investors and hedge funds have recently made changes to their positions in the company. NBH Bank acquired a new stake in Manhattan Associates in the second quarter worth about $37,000. Versant Capital Management Inc lifted its position in Manhattan Associates by 508.9% during the 2nd quarter. Versant Capital Management Inc now owns 274 shares of the software maker's stock valued at $38,000 after purchasing an additional 229 shares during the period. BNP Paribas bought a new position in shares of Manhattan Associates in the 4th quarter valued at about $39,000. V Square Quantitative Management LLC grew its position in shares of Manhattan Associates by 35.9% during the 1st quarter. V Square Quantitative Management LLC now owns 348 shares of the software maker's stock worth $46,000 after buying an additional 92 shares during the period. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Manhattan Associates during the 4th quarter worth approximately $55,000. Institutional investors own 98.45% of the company's stock.

Manhattan Associates Company Profile

Manhattan Associates, Inc is a technology company that develops cloud-based software for supply chain, inventory, and omnichannel commerce operations. Its solutions help businesses manage the movement of goods from suppliers and distribution centers to stores and customers, while improving visibility, efficiency, and service.

The company's product portfolio includes Manhattan Active Warehouse Management, Manhattan Active Transportation Management, Manhattan Active Order Management, supply chain planning, inventory optimization, labor management, and customer engagement applications.