Manhattan Associates (NASDAQ:MANH) Reaches New 1-Year High - Time to Buy?

Key Points

• Manhattan Associates shares reached a new 52-week high of $233.32, with the stock recently trading near $232.86 and a market capitalization of approximately $13.58 billion.
• Analysts remain broadly optimistic, with nine Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $230.40, though the stock’s price-to-earnings ratio is elevated at 66.72.
• The company exceeded quarterly expectations, reporting $1.39 in earnings per share and $297.79 million in revenue, while revenue grew 9.3% year over year; meanwhile, executives sold shares and institutional investors own 98.45% of the stock.

Manhattan Associates, Inc. (NASDAQ:MANH - Get Free Report) shares reached a new 52-week high on Wednesday. The company traded as high as $233.32 and last traded at $232.86, with a volume of 822,953 shares traded. The stock had previously closed at $225.43.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MANH. Stifel Nicolaus upped their price objective on Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, October 14th. Robert W. Baird lifted their target price on Manhattan Associates from $218.00 to $260.00 and gave the company an "outperform" rating in a research note on Wednesday, August 26th. Citigroup boosted their price target on Manhattan Associates from $203.00 to $260.00 and gave the stock a "buy" rating in a report on Tuesday. Wall Street Zen cut Manhattan Associates from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Finally, Morgan Stanley upgraded Manhattan Associates from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $180.00 to $250.00 in a research report on Monday, October 12th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Manhattan Associates presently has a consensus rating of "Moderate Buy" and an average target price of $230.40.

Manhattan Associates Stock Performance

The stock has a market capitalization of $13.58 billion, a PE ratio of 66.72 and a beta of 0.95. The company has a 50 day moving average of $210.61 and a two-hundred day moving average of $169.87.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.32 by $0.07. The business had revenue of $297.79 million for the quarter, compared to analyst estimates of $289.03 million. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%. The company's revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.31 earnings per share. As a group, research analysts predict that Manhattan Associates, Inc. will post 3.87 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Eric Clark sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total value of $593,280.00. Following the completion of the sale, the chief executive officer directly owned 89,638 shares in the company, valued at $17,726,810.88. This represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP James Gantt sold 5,139 shares of the company's stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the completion of the sale, the executive vice president directly owned 55,676 shares of the company's stock, valued at $10,886,328.28. This represents a 8.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.84% of the company's stock.

Institutional Trading of Manhattan Associates

A number of hedge funds and other institutional investors have recently modified their holdings of the business. NBH Bank acquired a new position in shares of Manhattan Associates in the 2nd quarter valued at $37,000. Versant Capital Management Inc raised its position in Manhattan Associates by 508.9% in the 2nd quarter. Versant Capital Management Inc now owns 274 shares of the software maker's stock valued at $38,000 after purchasing an additional 229 shares during the last quarter. V Square Quantitative Management LLC raised its position in Manhattan Associates by 35.9% in the 1st quarter. V Square Quantitative Management LLC now owns 348 shares of the software maker's stock valued at $46,000 after purchasing an additional 92 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in Manhattan Associates during the 2nd quarter worth $62,000. Finally, Harbor Investment Advisory LLC acquired a new stake in Manhattan Associates during the 2nd quarter worth $64,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Manhattan Associates Company Profile

Manhattan Associates, Inc develops supply chain commerce software for retailers, wholesalers, manufacturers and logistics providers. Its solutions help organizations plan, execute and optimize inventory, warehouse, transportation and omnichannel fulfillment operations.

The company's product portfolio includes warehouse management, transportation management, order management, inventory optimization, labor management and point-of-sale capabilities. Manhattan Associates also provides tools that support warehouse automation, store fulfillment, distributed order management and customer engagement across digital and physical retail channels.

Founded in 1990 and headquartered in Atlanta, Georgia, Manhattan Associates serves customers across North America, Europe, Asia-Pacific and other international markets.

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