Manhattan Associates (NASDAQ:MANH) Share Price Breaks Above 200 Day Moving Average - Here's What Happened

Key Points

• Manhattan Associates shares crossed above their 200-day moving average, reaching $209.02 and last trading at $205.45, versus a 200-day average of $163.47.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $214.20; Robert W. Baird and Barclays recently raised their targets, while DA Davidson downgraded the stock to neutral.
• The company exceeded quarterly expectations, reporting EPS of $1.39 versus $1.32 expected and revenue of $297.79 million, up 9.3% year over year.

Manhattan Associates, Inc. (NASDAQ:MANH - Get Free Report) shares crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $163.47 and traded as high as $209.02. Manhattan Associates shares last traded at $205.45, with a volume of 622,422 shares.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MANH. 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 report on Wednesday, August 26th. Morgan Stanley set a $180.00 price objective on shares of Manhattan Associates in a research report on Wednesday, July 29th. DA Davidson cut shares of Manhattan Associates from a "buy" rating to a "neutral" rating and set a $210.00 price objective for the company. in a research note on Monday, September 28th. Weiss Ratings raised shares of Manhattan Associates from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday. Finally, Barclays increased their target price on shares of Manhattan Associates from $201.00 to $239.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 8th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Manhattan Associates has an average rating of "Moderate Buy" and an average price target of $214.20.

Manhattan Associates Trading Up 0.6%

The firm has a fifty day simple moving average of $204.91 and a two-hundred day simple moving average of $163.47. The stock has a market cap of $11.98 billion, a PE ratio of 58.87 and a beta of 0.95.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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%.The company's revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the company posted $1.31 EPS. Equities analysts forecast that Manhattan Associates, Inc. will post 3.86 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP James Gantt sold 5,139 shares of the firm's stock in a transaction on 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 sale, the executive vice president owned 55,676 shares in the company, valued at approximately $10,886,328.28. This trade represents a 8.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Eric Clark sold 3,000 shares of Manhattan Associates 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 sale, the chief executive officer directly owned 89,638 shares of the company's stock, valued at $17,726,810.88. This represents a 3.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.84% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MANH. Allworth Financial LP increased its position in shares of Manhattan Associates by 3.1% in the 2nd quarter. Allworth Financial LP now owns 2,587 shares of the software maker's stock valued at $360,000 after acquiring an additional 77 shares during the period. V Square Quantitative Management LLC lifted its position in Manhattan Associates by 35.9% during the 1st quarter. V Square Quantitative Management LLC now owns 348 shares of the software maker's stock worth $46,000 after acquiring an additional 92 shares during the period. Oregon Public Employees Retirement Fund grew its stake in Manhattan Associates by 1.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 12,202 shares of the software maker's stock valued at $1,624,000 after purchasing an additional 158 shares during the last quarter. Parallel Advisors LLC grew its stake in Manhattan Associates by 21.6% during the 1st quarter. Parallel Advisors LLC now owns 907 shares of the software maker's stock valued at $121,000 after purchasing an additional 161 shares during the last quarter. Finally, Wesbanco Bank Inc. increased its holdings in shares of Manhattan Associates by 10.4% in the first quarter. Wesbanco Bank Inc. now owns 2,131 shares of the software maker's stock valued at $284,000 after purchasing an additional 200 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Company Profile

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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