Manhattan Associates (NASDAQ:MANH) Announces Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Key Points

• Manhattan Associates beat quarterly expectations, reporting adjusted EPS of $1.39 versus the $1.32 consensus and revenue of $297.79 million compared with estimates of $287.65 million.
• Shares rose 5.6% to $168.17 following the results. The stock has a market capitalization of about $9.95 billion and trades at a price-to-earnings ratio of 47.11.
• Analysts maintain a favorable outlook, with eight Buy ratings and three Holds producing a consensus “Moderate Buy” rating and an average price target of $201.

Manhattan Associates (NASDAQ:MANH - Get Free Report) issued its quarterly earnings data on Tuesday. The software maker reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $1.32 by $0.07, FiscalAI reports. The company had revenue of $297.79 million during the quarter, compared to the consensus estimate of $287.65 million. Manhattan Associates had a net margin of 19.68% and a return on equity of 78.13%.

Manhattan Associates Trading Up 5.6%

Shares of MANH stock traded up $8.88 during trading hours on Tuesday, reaching $168.17. 969,322 shares of the company's stock were exchanged, compared to its average volume of 738,707. Manhattan Associates has a 1 year low of $119.06 and a 1 year high of $229.57. The stock has a market cap of $9.95 billion, a PE ratio of 47.11 and a beta of 0.97. The stock's fifty day moving average price is $146.29 and its two-hundred day moving average price is $144.87.

Insider Activity at Manhattan Associates

In related news, CEO Eric Andrew Clark sold 1,000 shares of Manhattan Associates stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $146.77, for a total value of $146,770.00. Following the completion of the sale, the chief executive officer directly owned 92,638 shares in the company, valued at $13,596,479.26. This trade represents a 1.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.84% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd increased its position in shares of Manhattan Associates by 448.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 137 shares of the software maker's stock valued at $28,000 after acquiring an additional 112 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Manhattan Associates during the 4th quarter valued at about $49,000. Quarry LP acquired a new position in shares of Manhattan Associates in the third quarter valued at about $62,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Manhattan Associates in the third quarter valued at about $68,000. Finally, Rafferty Asset Management LLC purchased a new position in shares of Manhattan Associates in the second quarter worth about $209,000. Institutional investors and hedge funds own 98.45% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MANH shares. Stifel Nicolaus set a $200.00 price target on Manhattan Associates in a research report on Wednesday, May 20th. Weiss Ratings upgraded Manhattan Associates from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, July 14th. Robert W. Baird boosted their target price on shares of Manhattan Associates from $183.00 to $186.00 and gave the stock an "outperform" rating in a report on Wednesday, April 22nd. DA Davidson reissued a "buy" rating and set a $200.00 price target on shares of Manhattan Associates in a research report on Wednesday, May 20th. Finally, Citigroup raised their price target on shares of Manhattan Associates from $177.00 to $193.00 and gave the company a "buy" rating in a report on Tuesday, July 21st. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Manhattan Associates currently has a consensus rating of "Moderate Buy" and a consensus price target of $201.00.

About Manhattan Associates

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.