Manhattan Associates (NASDAQ:MANH) Downgraded by Zacks Research to Hold

Key Points

• Manhattan Associates has been downgraded by Zacks Research from a "strong-buy" to a "hold" rating, amidst mixed assessments from other analysts, with price targets ranging from $190.00 to $250.00.
• The company reported $1.31 earnings per share for the last quarter, exceeding estimates and showing a year-over-year revenue growth of 2.7%, driven by a net margin of 20.91%.
• Insider trading activity includes significant sales by Chairman Eddie Capel and Director Linda Hollembaek, decreasing their ownership stakes in the company.

Manhattan Associates (NASDAQ:MANH - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued on Monday,Zacks.com reports.

A number of other research analysts have also weighed in on the stock. Truist Financial raised their price target on shares of Manhattan Associates from $210.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Loop Capital raised their price target on shares of Manhattan Associates from $170.00 to $200.00 and gave the company a "hold" rating in a research report on Tuesday, July 22nd. Morgan Stanley began coverage on shares of Manhattan Associates in a research report on Monday, July 14th. They set an "underweight" rating and a $190.00 price target on the stock. Citigroup reissued a "neutral" rating and set a $200.00 price target (up from $177.00) on shares of Manhattan Associates in a research report on Wednesday, July 16th. Finally, DA Davidson raised their price target on shares of Manhattan Associates from $225.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $216.67.

Manhattan Associates Trading Down 1.0%

Manhattan Associates stock opened at $213.71 on Monday. The firm's fifty day moving average price is $214.21 and its two-hundred day moving average price is $192.79. The firm has a market capitalization of $12.92 billion, a price-to-earnings ratio of 59.70 and a beta of 1.13. 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, beating analysts' consensus estimates of $1.12 by $0.19. Manhattan Associates had a net margin of 20.91% and a return on equity of 82.91%. The company had revenue of $272.42 million for the quarter, compared to analyst estimates of $263.62 million. During the same period last year, the firm earned $1.18 earnings per share. The firm's revenue was up 2.7% on a year-over-year basis. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. On average, research analysts forecast that Manhattan Associates will post 3.3 EPS for the current year.

Insider Activity at Manhattan Associates

In related news, Chairman Eddie Capel sold 37,342 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $222.18, for a total transaction of $8,296,645.56. Following the completion of the transaction, the chairman owned 162,988 shares of the company's stock, valued at approximately $36,212,673.84. The trade was a 18.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Linda T. Hollembaek sold 2,024 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $221.53, for a total transaction of $448,376.72. Following the transaction, the director directly owned 11,907 shares of the company's stock, valued at approximately $2,637,757.71. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,666 shares of company stock valued at $9,251,781. Corporate insiders own 0.72% of the company's stock.

Hedge Funds Weigh In On Manhattan Associates

Several hedge funds have recently bought and sold shares of MANH. AQR Capital Management LLC grew its stake in Manhattan Associates by 181.6% during the second quarter. AQR Capital Management LLC now owns 1,928,053 shares of the software maker's stock valued at $380,733,000 after acquiring an additional 1,243,390 shares in the last quarter. Norges Bank purchased a new position in Manhattan Associates during the second quarter valued at approximately $162,545,000. Jacobs Levy Equity Management Inc. lifted its position in Manhattan Associates by 1,214.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 606,038 shares of the software maker's stock valued at $104,869,000 after purchasing an additional 559,923 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Manhattan Associates by 101.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,100,410 shares of the software maker's stock valued at $190,415,000 after purchasing an additional 554,840 shares during the last quarter. Finally, Swedbank AB lifted its position in Manhattan Associates by 116.8% during the first quarter. Swedbank AB now owns 800,000 shares of the software maker's stock valued at $138,432,000 after purchasing an additional 430,981 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

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.

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