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

Key Points

• Analysts maintain a “Moderate Buy” consensus on Manhattan Associates, with eight buy ratings and three holds among 11 analysts. The average 12-month price target is $209.20.
• Manhattan Associates beat quarterly expectations, reporting $1.39 in EPS versus the $1.32 consensus and revenue of $297.79 million versus estimates of $289.03 million; revenue increased 9.3% year over year.
• The stock opened at $192.08, near the analyst price target and below its 52-week high of $220.72. Institutional investors own a substantial 98.45% of outstanding shares, while company insiders recently reported stock sales.

Shares of Manhattan Associates, Inc. (NASDAQ:MANH - Get Free Report) have received a consensus rating of "Moderate Buy" from the eleven brokerages that are presently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $209.20.

MANH has been the topic of a number of analyst reports. Wall Street Zen lowered shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Rothschild & Co Redburn set a $145.00 price target on shares of Manhattan Associates in a research report on Thursday, April 16th. Robert W. Baird boosted their price target on Manhattan Associates from $186.00 to $218.00 and gave the company an "outperform" rating in a research note on Wednesday, July 29th. Citigroup increased their price target on Manhattan Associates from $177.00 to $193.00 and gave the stock a "buy" rating in a research report on Tuesday, July 21st. Finally, DA Davidson raised their price objective on Manhattan Associates from $200.00 to $210.00 and gave the stock a "buy" rating in a research note on Wednesday, July 29th.

Insider Buying and Selling

In other Manhattan Associates news, CEO Eric Andrew Clark sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $146.77, for a total transaction of $146,770.00. Following the completion of the transaction, the chief executive officer directly owned 92,638 shares in the company, valued at $13,596,479.26. The trade was a 1.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP James Stewart Gantt sold 5,139 shares of the company's stock in a transaction on Thursday, July 30th. The stock was 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 of the company's stock, valued at $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. Company 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. Oppenheimer Asset Management Inc. acquired a new stake in shares of Manhattan Associates during the second quarter valued at about $1,112,000. Wasatch Advisors LP increased its position in shares of Manhattan Associates by 2.8% during the second quarter. Wasatch Advisors LP now owns 11,147 shares of the software maker's stock worth $1,552,000 after buying an additional 306 shares during the period. Handelsbanken Fonder AB raised its stake in Manhattan Associates by 5.6% during the second quarter. Handelsbanken Fonder AB now owns 18,788 shares of the software maker's stock worth $2,616,000 after buying an additional 1,000 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Manhattan Associates by 8.8% in the second quarter. Assenagon Asset Management S.A. now owns 126,378 shares of the software maker's stock valued at $17,598,000 after buying an additional 10,265 shares during the period. Finally, Harbor Investment Advisory LLC acquired a new position in Manhattan Associates in the second quarter valued at $64,000. Institutional investors and hedge funds own 98.45% of the company's stock.

Manhattan Associates Price Performance

Manhattan Associates stock opened at $192.08 on Thursday. The firm has a market capitalization of $11.20 billion, a PE ratio of 55.04 and a beta of 0.93. The company's 50-day moving average is $153.50 and its 200-day moving average is $145.59. Manhattan Associates has a fifty-two week low of $119.06 and a fifty-two week high of $220.72.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share for the quarter, topping 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 business had revenue of $297.79 million for the quarter, compared to analyst estimates of $289.03 million. During the same period in the previous year, the firm earned $1.31 EPS. The firm's revenue was up 9.3% compared to the same quarter last year. As a group, 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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