Manhattan Associates, Inc. (NASDAQ:MANH) Stock Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Analysts rate Manhattan Associates a “Moderate Buy.” Eight of ten covering brokerages recommend buying the stock, while two rate it a hold; the average 12-month price target is $217.20.
• Manhattan Associates exceeded quarterly expectations, reporting $1.39 in EPS versus the $1.32 consensus and revenue of $297.79 million, up 9.3% year over year.
• Institutional investors own 98.45% of the company, with major firms including BlackRock and T. Rowe Price increasing or initiating positions, while two executives recently sold shares.

Shares of Manhattan Associates, Inc. (NASDAQ:MANH - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the ten brokerages that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $217.20.

MANH has been the topic of a number of recent analyst reports. DA Davidson raised their price target on Manhattan Associates from $200.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday, July 29th. Morgan Stanley set a $180.00 price objective on Manhattan Associates in a research note on Wednesday, July 29th. Wall Street Zen cut Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Stifel Nicolaus lifted 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. Finally, Barclays boosted their price target on Manhattan Associates from $201.00 to $239.00 and gave the stock an "overweight" rating in a report on Tuesday, September 8th.

Insider Activity at Manhattan Associates

In other news, EVP James Gantt sold 5,139 shares of the business's 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction, the chief executive officer owned 89,638 shares of the company's stock, valued at approximately $17,726,810.88. This represents a 3.24% decrease in their position. 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 made changes to their positions in the company. BlackRock Inc. bought a new position in Manhattan Associates during the second quarter valued at approximately $944,285,000. T. Rowe Price Investment Management Inc. raised its holdings in shares of Manhattan Associates by 35.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,580,241 shares of the software maker's stock worth $447,182,000 after acquiring an additional 671,589 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Manhattan Associates by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 1,753,909 shares of the software maker's stock worth $305,199,000 after acquiring an additional 88,005 shares in the last quarter. Swedbank AB boosted its position 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 acquiring an additional 300,000 shares during the last quarter. Finally, TD Asset Management Inc boosted its position in shares of Manhattan Associates by 37.2% during the 4th quarter. TD Asset Management Inc now owns 730,815 shares of the software maker's stock valued at $126,658,000 after acquiring an additional 198,228 shares during the last quarter. 98.45% of the stock is owned by institutional investors.

Manhattan Associates Trading Down 0.4%

Shares of NASDAQ:MANH opened at $209.63 on Friday. The stock has a 50 day moving average of $198.41 and a 200 day moving average of $160.52. The company has a market cap of $12.22 billion, a PE ratio of 60.07 and a beta of 0.95. Manhattan Associates has a 12-month low of $119.06 and a 12-month high of $227.03.

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 net margin of 18.67% and a return on equity of 86.72%. The company had revenue of $297.79 million for the quarter, compared to analysts' expectations of $289.03 million. During the same quarter last year, the business earned $1.31 EPS. The firm's revenue was up 9.3% compared to the same quarter last year. Equities research analysts predict that Manhattan Associates will post 3.87 earnings per share for the current fiscal year.

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.

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