Manhattan Associates (NASDAQ:MANH) Shares Gap Down to $230.63

Manhattan Associates, Inc. (NASDAQ:MANH - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $230.63, but opened at $208.49. Manhattan Associates shares last traded at $210.46, with a volume of 216,900 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MANH. Rosenblatt Securities restated a "neutral" rating and set a $225.00 price objective on shares of Manhattan Associates in a report on Wednesday. Raymond James raised their price target on shares of Manhattan Associates from $214.00 to $250.00 and gave the company an "outperform" rating in a research report on Wednesday, January 31st. Citigroup decreased their price objective on Manhattan Associates from $260.00 to $220.00 and set a "neutral" rating for the company in a report on Wednesday. Finally, Truist Financial raised their target price on Manhattan Associates from $240.00 to $260.00 and gave the company a "buy" rating in a report on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $225.57.

Manhattan Associates Stock Performance

The stock has a market cap of $12.70 billion, a P/E ratio of 73.16 and a beta of 1.44. The business has a 50 day simple moving average of $245.97 and a 200-day simple moving average of $227.06.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.55 by $0.23. Manhattan Associates had a net margin of 19.01% and a return on equity of 84.08%. The business had revenue of $238.26 million for the quarter, compared to analyst estimates of $223.99 million. On average, sell-side analysts predict that Manhattan Associates, Inc. will post 2.78 earnings per share for the current fiscal year.

Insider Activity

In other Manhattan Associates news, CEO Eddie Capel sold 10,897 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the completion of the transaction, the chief executive officer now owns 242,153 shares in the company, valued at $59,988,562.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Manhattan Associates news, CEO Eddie Capel sold 10,897 shares of the business's stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total value of $2,699,513.81. Following the completion of the transaction, the chief executive officer now owns 242,153 shares of the company's stock, valued at approximately $59,988,562.69. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP James Stewart Gantt sold 680 shares of the firm's stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total transaction of $169,211.20. Following the sale, the executive vice president now owns 57,093 shares in the company, valued at approximately $14,207,022.12. The disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. raised its position in Manhattan Associates by 259.4% during the 4th quarter. Blue Trust Inc. now owns 115 shares of the software maker's stock valued at $25,000 after purchasing an additional 83 shares during the last quarter. Bear Mountain Capital Inc. purchased a new stake in Manhattan Associates in the fourth quarter worth about $26,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Manhattan Associates during the 4th quarter valued at approximately $26,000. Contravisory Investment Management Inc. purchased a new position in shares of Manhattan Associates during the 1st quarter worth approximately $31,000. Finally, Rise Advisors LLC purchased a new position in shares of Manhattan Associates in the 1st quarter valued at approximately $40,000. 98.45% of the stock is owned by institutional investors.

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.