Manhattan Associates' (MANH) Neutral Rating Reiterated at Rosenblatt Securities

Manhattan Associates (NASDAQ:MANH - Get Free Report)'s stock had its "neutral" rating restated by investment analysts at Rosenblatt Securities in a report issued on Monday, Benzinga reports. They currently have a $225.00 price target on the software maker's stock. Rosenblatt Securities' price objective indicates a potential downside of 2.38% from the company's previous close.

A number of other brokerages also recently weighed in on MANH. Truist Financial increased their price objective on shares of Manhattan Associates from $240.00 to $260.00 and gave the company a "buy" rating in a research report on Wednesday, January 31st. Citigroup began coverage on shares of Manhattan Associates in a report on Wednesday, March 13th. They set a "neutral" rating and a $260.00 target price for the company. Finally, Raymond James upped their target price on shares of Manhattan Associates from $214.00 to $250.00 and gave the company an "outperform" rating in a report on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Manhattan Associates currently has an average rating of "Moderate Buy" and a consensus price target of $231.29.

Manhattan Associates Price Performance

Manhattan Associates stock traded down $7.32 during midday trading on Monday, reaching $230.49. 565,455 shares of the company traded hands, compared to its average volume of 365,777. The firm has a market capitalization of $14.19 billion, a price-to-earnings ratio of 83.92 and a beta of 1.44. The business has a 50 day moving average of $248.48 and a two-hundred day moving average of $225.58. 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 quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.23. The company 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%. As a group, equities analysts forecast that Manhattan Associates will post 2.78 EPS for the current year.

Insider Buying and Selling at Manhattan Associates

In other news, EVP James Stewart Gantt sold 680 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total value of $169,211.20. Following the completion of the sale, the executive vice president now directly owns 57,093 shares of the company's stock, valued at $14,207,022.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP James Stewart Gantt sold 680 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total value of $169,211.20. Following the completion of the sale, the executive vice president now directly owns 57,093 shares of the company's stock, valued at $14,207,022.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Eddie Capel sold 10,897 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the completion of the sale, the chief executive officer now directly owns 242,153 shares of the company's stock, valued at $59,988,562.69. The disclosure for this sale can be found here. 0.85% of the stock is owned by corporate insiders.

Institutional Trading of Manhattan Associates

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Sunbelt Securities Inc. grew its stake in Manhattan Associates by 57.1% during the first quarter. Sunbelt Securities Inc. now owns 779 shares of the software maker's stock valued at $195,000 after acquiring an additional 283 shares in the last quarter. FCF Advisors LLC grew its stake in Manhattan Associates by 5.6% during the first quarter. FCF Advisors LLC now owns 9,346 shares of the software maker's stock valued at $2,339,000 after acquiring an additional 494 shares in the last quarter. Contravisory Investment Management Inc. purchased a new position in Manhattan Associates during the first quarter valued at $31,000. Gulf International Bank UK Ltd grew its stake in Manhattan Associates by 2.0% during the first quarter. Gulf International Bank UK Ltd now owns 6,243 shares of the software maker's stock valued at $1,562,000 after acquiring an additional 120 shares in the last quarter. Finally, Lantz Financial LLC purchased a new position in Manhattan Associates during the first quarter valued at $211,000. 98.45% of the stock is owned by hedge funds and other 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.