Manhattan Associates (NASDAQ:MANH) Sets New 1-Year High on Analyst Upgrade

Key Points

• Manhattan Associates shares reached a new 52-week high, trading as high as $227.71 after Stifel Nicolaus raised its price target from $225 to $250 and maintained a buy rating.
• Analyst sentiment remains favorable, with nine Buy ratings and two Hold ratings producing a “Moderate Buy” consensus and an average price target of $223.70.
• The company recently beat quarterly estimates, reporting $1.39 in EPS and $297.79 million in revenue, while revenue grew 9.3% year over year; institutional investors own 98.45% of outstanding shares.

Shares of Manhattan Associates, Inc. (NASDAQ:MANH - Get Free Report) reached a new 52-week high during mid-day trading on Thursday after Stifel Nicolaus raised their price target on the stock from $225.00 to $250.00. Stifel Nicolaus currently has a buy rating on the stock. Manhattan Associates traded as high as $227.71 and last traded at $226.3080, with a volume of 38,473 shares trading hands. The stock had previously closed at $220.04.

Several other equities research analysts have also recently commented on the company. Weiss Ratings raised Manhattan Associates from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, October 2nd. Wall Street Zen lowered Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Morgan Stanley raised Manhattan Associates from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $180.00 to $250.00 in a research report on Monday. Citigroup increased their price objective on shares of Manhattan Associates from $177.00 to $193.00 and gave the company a "buy" rating in a research report on Tuesday, July 21st. Finally, UBS Group reissued a "buy" rating on shares of Manhattan Associates in a report on Wednesday. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $223.70.

Insiders Place Their Bets

In other Manhattan Associates news, EVP James Gantt sold 5,139 shares of Manhattan Associates stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $195.53, for a total value of $1,004,828.67. Following the sale, the executive vice president directly owned 55,676 shares in the company, valued at approximately $10,886,328.28. The trade was a 8.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Eric Clark sold 3,000 shares of the business's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total transaction of $593,280.00. Following the completion of the sale, the chief executive officer owned 89,638 shares in the company, valued at approximately $17,726,810.88. The trade was a 3.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.84% of the company's stock.

Institutional Trading of Manhattan Associates

Several hedge funds have recently modified their holdings of the company. NBH Bank purchased a new stake in Manhattan Associates during the second quarter worth about $37,000. Versant Capital Management Inc increased its holdings in Manhattan Associates by 508.9% in the second quarter. Versant Capital Management Inc now owns 274 shares of the software maker's stock valued at $38,000 after buying an additional 229 shares in the last quarter. V Square Quantitative Management LLC increased its holdings in Manhattan Associates by 35.9% in the first quarter. V Square Quantitative Management LLC now owns 348 shares of the software maker's stock valued at $46,000 after buying an additional 92 shares in the last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in Manhattan Associates in the fourth quarter valued at about $55,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Manhattan Associates during the 2nd quarter valued at approximately $62,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates Stock Performance

The stock's 50-day moving average price is $208.00 and its 200-day moving average price is $167.18. The company has a market capitalization of $13.16 billion, a price-to-earnings ratio of 64.69 and a beta of 0.95.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.07. The firm had revenue of $297.79 million during the quarter, compared to the consensus estimate of $289.03 million. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%. Manhattan Associates's quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the business posted $1.31 EPS. Analysts anticipate that Manhattan Associates, Inc. will post 3.87 earnings per share for the current year.

About Manhattan Associates

Manhattan Associates, Inc develops cloud-based software designed to help businesses manage supply chains, inventory, warehouse operations, transportation, and omnichannel commerce. Its solutions are used by retailers, wholesalers, manufacturers, distributors, logistics providers, and other organizations seeking to coordinate products, orders, labor, and fulfillment activities.

The company's product portfolio includes Manhattan Active Warehouse Management, Manhattan Active Transportation Management, Manhattan Active Order Management, and related tools for inventory optimization, workforce management, customer engagement, and point-of-sale operations.

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