Manhattan Associates, Inc. (NASDAQ:MANH) Stock Has Consensus Target Price of $223.70 According to Brokerages

Key Points

• Analysts remain broadly bullish: Manhattan Associates has a consensus “Moderate Buy” rating from 11 analysts, with nine buys and two holds. The average 12-month price target is $223.70.
• Recent financial results exceeded expectations: The company reported quarterly EPS of $1.39 versus the $1.32 consensus estimate, while revenue rose 9.3% year over year to $297.79 million.
• Institutional ownership is substantial: Institutional investors hold 98.45% of the company, while insiders own 0.84%; executives recently disclosed stock sales totaling roughly $1.6 million.

Manhattan Associates, Inc. (NASDAQ:MANH - Get Free Report) has been given an average rating of "Moderate Buy" by the eleven analysts that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $223.70.

Several equities analysts have recently weighed in on MANH shares. Weiss Ratings upgraded Manhattan Associates from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, October 2nd. Barclays lifted their price target on Manhattan Associates from $201.00 to $239.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 8th. Citigroup upped their price target on shares of Manhattan Associates from $177.00 to $193.00 and gave the stock a "buy" rating in a research note on Tuesday, July 21st. Stifel Nicolaus increased their price objective on shares of Manhattan Associates from $225.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, October 14th. Finally, Robert W. Baird raised their price objective on shares of Manhattan Associates from $218.00 to $260.00 and gave the company an "outperform" rating in a research note on Wednesday, August 26th.

Insider Activity at Manhattan Associates

In related news, CEO Eric Clark sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total transaction of $593,280.00. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James Gantt sold 5,139 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the executive vice president owned 55,676 shares of the company's stock, valued at approximately $10,886,328.28. The trade was a 8.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.84% of the company's stock.

Institutional Trading of Manhattan Associates

A number of institutional investors and hedge funds have recently modified their holdings of MANH. BlackRock Inc. purchased a new stake in Manhattan Associates during the 2nd quarter valued at $944,285,000. Swedbank AB lifted its holdings in shares of Manhattan Associates by 25.0% during the 1st quarter. Swedbank AB now owns 1,500,000 shares of the software maker's stock valued at $199,680,000 after buying an additional 300,000 shares during the period. William Blair Investment Management LLC bought a new position in shares of Manhattan Associates during the 2nd quarter valued at $94,049,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Manhattan Associates by 2.0% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,608 shares of the software maker's stock worth $89,671,000 after buying an additional 13,128 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of Manhattan Associates by 6.2% in 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. Institutional investors own 98.45% of the company's stock.

Manhattan Associates Stock Up 1.5%

Manhattan Associates stock opened at $225.43 on Tuesday. The company has a market capitalization of $13.14 billion, a P/E ratio of 64.59 and a beta of 0.95. The stock's 50 day moving average is $209.86 and its 200 day moving average is $169.18. Manhattan Associates has a twelve month low of $119.06 and a twelve month high of $231.63.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.39 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $289.03 million. During the same quarter last year, the company earned $1.31 EPS. The firm's revenue for the quarter was up 9.3% on a year-over-year basis. As a group, equities analysts expect that Manhattan Associates will post 3.87 EPS for the current year.

Manhattan Associates Company Profile

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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