Manhattan Associates (NASDAQ:MANH) Issues Earnings Results, Misses Expectations By $0.20 EPS

Manhattan Associates (NASDAQ:MANH - Get Free Report) posted its quarterly earnings results on Tuesday. The software maker reported $0.86 earnings per share for the quarter, missing analysts' consensus estimates of $1.06 by ($0.20), Zacks reports. Manhattan Associates had a return on equity of 88.50% and a net margin of 20.95%. During the same period in the previous year, the company earned $1.03 EPS.

Manhattan Associates Stock Down 2.3 %

Manhattan Associates stock traded down $4.89 on Friday, hitting $209.26. The company's stock had a trading volume of 870,244 shares, compared to its average volume of 582,165. The company has a fifty day moving average price of $281.04 and a 200-day moving average price of $271.55. The firm has a market cap of $12.78 billion, a P/E ratio of 59.61 and a beta of 1.52. Manhattan Associates has a one year low of $205.12 and a one year high of $312.60.

Insider Activity

In other news, EVP James Stewart Gantt sold 3,475 shares of the company's stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total value of $1,001,147.50. Following the sale, the executive vice president now owns 42,812 shares of the company's stock, valued at approximately $12,334,137.20. This represents a 7.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Bruce Richards sold 4,150 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the sale, the senior vice president now owns 22,086 shares of the company's stock, valued at $6,398,976.78. This trade represents a 15.82 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MANH has been the topic of several recent research reports. StockNews.com lowered Manhattan Associates from a "buy" rating to a "hold" rating in a report on Monday, January 13th. Truist Financial cut their target price on shares of Manhattan Associates from $310.00 to $285.00 and set a "buy" rating for the company in a research report on Wednesday. Piper Sandler reiterated an "overweight" rating and issued a $268.00 price objective (down from $326.00) on shares of Manhattan Associates in a research note on Wednesday. Citigroup decreased their target price on Manhattan Associates from $306.00 to $303.00 and set a "neutral" rating for the company in a research note on Monday. Finally, Raymond James dropped their price target on Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating on the stock in a research report on Wednesday. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Manhattan Associates currently has an average rating of "Moderate Buy" and a consensus target price of $273.33.

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.