Manhattan Associates, Inc. (NASDAQ:MANH) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Manhattan Associates, with eight buy ratings and three holds. The average 12-month price target is $213.40.
• Manhattan Associates exceeded quarterly expectations, reporting $1.39 in EPS versus the $1.32 consensus estimate and $297.79 million in revenue, up 9.3% year over year.
• Institutional investors own 98.45% of the company, while insiders sold 9,139 shares worth approximately $1.74 million over the past three months.

Manhattan Associates, Inc. (NASDAQ:MANH - Get Free Report) has received a consensus rating of "Moderate Buy" from the eleven brokerages that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $213.40.

MANH has been the subject of a number of recent analyst reports. Wall Street Zen cut Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Barclays decreased their price objective on shares of Manhattan Associates from $239.00 to $201.00 and set an "overweight" rating for the company in a research report on Friday, May 29th. DA Davidson increased their target price on shares of Manhattan Associates from $200.00 to $210.00 and gave the stock a "buy" rating in a research note on Wednesday, July 29th. Stifel Nicolaus raised their target price on Manhattan Associates from $200.00 to $225.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. Finally, Robert W. Baird lifted their price target on Manhattan Associates from $218.00 to $260.00 and gave the company an "outperform" rating in a research note on Wednesday.

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, CEO Eric Andrew Clark sold 3,000 shares of the company'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 transaction, the chief executive officer owned 89,638 shares of the company's stock, valued at $17,726,810.88. This represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP James Stewart Gantt sold 5,139 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the transaction, the executive vice president directly owned 55,676 shares of the company's stock, valued at approximately $10,886,328.28. This trade represents a 8.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 9,139 shares of company stock valued at $1,744,879 over the last three months. Corporate insiders own 0.84% of the company's stock.

Institutional Investors Weigh In On Manhattan Associates

Several hedge funds have recently modified their holdings of MANH. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Manhattan Associates by 72.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,245 shares of the software maker's stock valued at $2,124,000 after buying an additional 5,128 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Manhattan Associates by 9.1% in the first quarter. Goldman Sachs Group Inc. now owns 500,068 shares of the software maker's stock worth $86,532,000 after acquiring an additional 41,571 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Manhattan Associates in the 1st quarter valued at $987,000. Focus Partners Wealth increased its holdings in shares of Manhattan Associates by 181.4% in the 1st quarter. Focus Partners Wealth now owns 2,400 shares of the software maker's stock valued at $415,000 after acquiring an additional 1,547 shares during the last quarter. Finally, Sivia Capital Partners LLC acquired a new stake in shares of Manhattan Associates during the 2nd quarter valued at approximately $446,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Manhattan Associates Price Performance

MANH stock opened at $223.28 on Monday. Manhattan Associates has a twelve month low of $119.06 and a twelve month high of $227.03. The stock has a market capitalization of $13.02 billion, a price-to-earnings ratio of 63.98 and a beta of 0.93. The firm's fifty day simple moving average is $173.96 and its two-hundred day simple moving average is $151.15.

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

Manhattan Associates Company Profile

Manhattan Associates, Inc NASDAQ: MANH is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.

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