Manhattan Associates (NASDAQ:MANH) Announces Quarterly Earnings Results

Key Points

• Manhattan reported an EPS beat of $1.24 vs. $1.10 expected and revenue of $282.2M (vs. $273.7M), with a net margin of 20.34% and ROE of 75.61%.
• The Board approved a $500 million share repurchase plan, authorizing buybacks of up to about 5.8% of outstanding stock.
• Analysts have a consensus "Moderate Buy" with a $215.36 target, while the stock trades around $134.53 (market cap ~$7.97B), implying significant upside per the consensus target.

Manhattan Associates (NASDAQ:MANH - Get Free Report) issued its quarterly earnings data on Tuesday. The software maker reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.14, FiscalAI reports. Manhattan Associates had a net margin of 20.34% and a return on equity of 75.61%. The business had revenue of $282.22 million during the quarter, compared to analysts' expectations of $273.71 million.

Manhattan Associates Stock Up 0.5%

Shares of NASDAQ:MANH traded up $0.70 during midday trading on Tuesday, hitting $134.53. The stock had a trading volume of 703,627 shares, compared to its average volume of 786,014. The company's 50-day moving average price is $137.25 and its 200-day moving average price is $162.70. The company has a market capitalization of $7.97 billion, a P/E ratio of 37.37 and a beta of 1.05. Manhattan Associates has a fifty-two week low of $119.06 and a fifty-two week high of $247.22.

Manhattan Associates declared that its Board of Directors has approved a stock repurchase plan on Thursday, March 5th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the software maker to purchase up to 5.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MANH. Morgan Stanley dropped their price objective on shares of Manhattan Associates from $200.00 to $165.00 and set an "equal weight" rating for the company in a research note on Monday, January 5th. Wall Street Zen upgraded shares of Manhattan Associates from a "hold" rating to a "buy" rating in a research note on Saturday, March 21st. William Blair reiterated an "outperform" rating on shares of Manhattan Associates in a research note on Thursday, March 5th. Stifel Nicolaus dropped their price objective on shares of Manhattan Associates from $240.00 to $225.00 and set a "buy" rating for the company in a research note on Friday, January 23rd. Finally, Truist Financial set a $240.00 price objective on shares of Manhattan Associates in a research note on Thursday, January 15th. Eight equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Manhattan Associates has a consensus rating of "Moderate Buy" and a consensus target price of $215.36.

Hedge Funds Weigh In On Manhattan Associates

Several hedge funds and other institutional investors have recently made changes to their positions in MANH. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Manhattan Associates by 72.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,245 shares of the software maker's stock valued at $2,124,000 after buying an additional 5,128 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Manhattan Associates by 9.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 500,068 shares of the software maker's stock worth $86,532,000 after purchasing an additional 41,571 shares in the last quarter. Empowered Funds LLC acquired a new position in Manhattan Associates during the 1st quarter worth approximately $987,000. Focus Partners Wealth increased its position in Manhattan Associates by 181.4% during the 1st quarter. Focus Partners Wealth now owns 2,400 shares of the software maker's stock worth $415,000 after purchasing an additional 1,547 shares in the last quarter. Finally, Sivia Capital Partners LLC acquired a new position in Manhattan Associates during the 2nd quarter worth approximately $446,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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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