Manhattan Associates (NASDAQ:MANH) PT Lowered to $220.00 at Citigroup

Manhattan Associates (NASDAQ:MANH - Free Report) had its price target lowered by Citigroup from $260.00 to $220.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the software maker's stock.

Other equities analysts also recently issued reports about the stock. Rosenblatt Securities reiterated a neutral rating and set a $225.00 price objective on shares of Manhattan Associates in a research note on Wednesday. Raymond James raised their price target on shares of Manhattan Associates from $214.00 to $250.00 and gave the stock an outperform rating in a report on Wednesday, January 31st. Finally, Truist Financial raised their price target on shares of Manhattan Associates from $240.00 to $260.00 and gave the stock a buy rating in a report on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Manhattan Associates currently has an average rating of Moderate Buy and a consensus price target of $225.57.

Manhattan Associates Price Performance

MANH stock traded down $24.31 during mid-day trading on Wednesday, reaching $206.32. The company had a trading volume of 1,487,341 shares, compared to its average volume of 384,276. The company has a market capitalization of $12.70 billion, a PE ratio of 73.16 and a beta of 1.44. The firm has a 50 day moving average of $245.97 and a 200 day moving average of $227.06. Manhattan Associates has a 12 month low of $152.32 and a 12 month high of $266.94.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, topping analysts' consensus estimates of $0.55 by $0.23. The business had revenue of $238.26 million for the quarter, compared to the consensus estimate of $223.99 million. Manhattan Associates had a net margin of 19.01% and a return on equity of 84.08%. Analysts anticipate that Manhattan Associates will post 2.78 EPS for the current year.

Insider Activity at Manhattan Associates

In related news, 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 $14,207,022.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Eddie Capel sold 10,897 shares of Manhattan Associates stock in a transaction dated 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 sale, 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 SEC, which can be accessed through the SEC website. Also, EVP James Stewart Gantt sold 680 shares of Manhattan Associates stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total transaction of $169,211.20. Following the completion of 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. 0.72% of the stock is owned by company insiders.

Institutional Trading of Manhattan Associates

Institutional investors have recently modified their holdings of the stock. Blue Trust Inc. boosted its position in Manhattan Associates by 259.4% during the fourth quarter. Blue Trust Inc. now owns 115 shares of the software maker's stock worth $25,000 after acquiring an additional 83 shares during the last quarter. Bear Mountain Capital Inc. acquired a new position in Manhattan Associates during the fourth quarter worth about $26,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Manhattan Associates during the fourth quarter worth about $26,000. Contravisory Investment Management Inc. acquired a new position in Manhattan Associates during the first quarter worth about $31,000. Finally, Rise Advisors LLC acquired a new position in Manhattan Associates during the first quarter worth about $40,000. Institutional investors and hedge funds own 98.45% of the company's stock.

Manhattan Associates Company Profile

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.