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

Key Points

• Analysts have given Manhattan Associates, Inc. an average rating of "Moderate Buy", with a price target of $216.67 for the next 12 months.
• The software company recently reported earnings of $1.31 EPS, exceeding estimates and reflecting a 2.7% increase in revenue year-over-year.
• Institutional investors hold 98.45% of Manhattan Associates' stock, indicating significant institutional interest in the company.

Shares of Manhattan Associates, Inc. (NASDAQ:MANH - Get Free Report) have been given an average recommendation of "Moderate Buy" by the ten analysts that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $216.67.

A number of brokerages have recently issued reports on MANH. Loop Capital raised their price objective on Manhattan Associates from $170.00 to $200.00 and gave the company a "hold" rating in a research note on Tuesday, July 22nd. Raymond James Financial raised their price objective on shares of Manhattan Associates from $195.00 to $250.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Redburn Atlantic downgraded shares of Manhattan Associates from a "buy" rating to a "neutral" rating and reduced their price target for the company from $270.00 to $200.00 in a research report on Tuesday, June 10th. DA Davidson lifted their price target on shares of Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Finally, Morgan Stanley initiated coverage on shares of Manhattan Associates in a report on Monday, July 14th. They set an "underweight" rating and a $190.00 price target on the stock.

Insider Activity

In related news, EVP James Stewart Gantt sold 2,300 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $220.33, for a total value of $506,759.00. Following the completion of the sale, the executive vice president owned 48,660 shares in the company, valued at $10,721,257.80. This trade represents a 4.51% 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. 0.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. BOKF NA increased its position in shares of Manhattan Associates by 0.4% in the fourth quarter. BOKF NA now owns 13,271 shares of the software maker's stock worth $3,522,000 after acquiring an additional 55 shares in the last quarter. Cordatus Wealth Management LLC grew its stake in shares of Manhattan Associates by 4.9% in the first quarter. Cordatus Wealth Management LLC now owns 1,229 shares of the software maker's stock valued at $213,000 after buying an additional 57 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Manhattan Associates by 2.6% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,510 shares of the software maker's stock worth $678,000 after purchasing an additional 63 shares during the period. Credit Agricole S A grew its holdings in shares of Manhattan Associates by 1.3% during the first quarter. Credit Agricole S A now owns 4,858 shares of the software maker's stock worth $841,000 after purchasing an additional 64 shares during the last quarter. Finally, Quent Capital LLC lifted its stake in shares of Manhattan Associates by 3.5% in the second quarter. Quent Capital LLC now owns 1,947 shares of the software maker's stock worth $384,000 after acquiring an additional 65 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Stock Up 1.8%

Manhattan Associates stock traded up $3.94 during trading on Friday, hitting $225.41. The stock had a trading volume of 918,479 shares, compared to its average volume of 561,413. The stock has a market cap of $13.63 billion, a price-to-earnings ratio of 62.96 and a beta of 1.08. The stock's 50 day moving average is $196.51 and its two-hundred day moving average is $192.68. Manhattan Associates has a 1 year low of $140.81 and a 1 year high of $312.60.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The software maker reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.19. The firm had revenue of $272.42 million for the quarter, compared to analysts' expectations of $263.62 million. Manhattan Associates had a net margin of 20.91% and a return on equity of 82.91%. The business's quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.18 earnings per share. As a group, equities research analysts anticipate that Manhattan Associates will post 3.3 EPS for the current fiscal year.

About Manhattan Associates

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Warehouse Management Solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and Transportation Management Solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, POS, and customer engagement tools for enterprises and stores.