Manhattan Associates (NASDAQ:MANH) Shares Gap Up - Time to Buy?

Key Points

• Manhattan Associates shares jumped, opening at $212.13 versus a prior close of $204.89 and later trading near $220.22. The company has a $12.71 billion market capitalization and trades at a P/E ratio of 62.44.
• Analyst sentiment remains favorable, with eight Buy ratings and two Holds producing a consensus “Moderate Buy” rating and a $221.20 price target. Recent targets range from $210 to $260.
• The company exceeded quarterly expectations, reporting $1.39 in EPS and $297.79 million in revenue, with revenue up 9.3% year over year. However, the CEO and an executive vice president recently sold shares, while institutional investors own 98.45% of the stock.

Shares of Manhattan Associates, Inc. (NASDAQ:MANH - Get Free Report) gapped up prior to trading on Monday. The stock had previously closed at $204.89, but opened at $212.13. Manhattan Associates shares last traded at $220.2230, with a volume of 66,715 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MANH shares. Robert W. Baird lifted their price objective on Manhattan Associates from $218.00 to $260.00 and gave the stock an "outperform" rating in a report on Wednesday, August 26th. Barclays boosted their price objective on Manhattan Associates from $201.00 to $239.00 and gave the company an "overweight" rating in a research report on Tuesday, September 8th. DA Davidson lowered Manhattan Associates from a "buy" rating to a "neutral" rating and set a $210.00 target price for the company. in a research note on Monday, September 28th. UBS Group set a $210.00 target price on Manhattan Associates in a research report on Monday, September 28th. Finally, Stifel Nicolaus lifted their price target on shares of Manhattan Associates from $200.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, July 29th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Manhattan Associates has a consensus rating of "Moderate Buy" and a consensus price target of $221.20.

Manhattan Associates Price Performance

The firm has a market cap of $12.71 billion, a P/E ratio of 62.44 and a beta of 0.95. The stock's 50 day moving average is $206.16 and its two-hundred day moving average is $165.31.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $1.32 by $0.07. The firm had revenue of $297.79 million during the quarter, compared to analysts' expectations of $289.03 million. Manhattan Associates had a net margin of 18.67% and a return on equity of 86.72%. The company's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.31 earnings per share. As a group, research analysts forecast that Manhattan Associates, Inc. will post 3.86 EPS for the current fiscal year.

Insider Buying and Selling

In related news, 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 value of $593,280.00. Following the sale, the chief executive officer owned 89,638 shares of the company's stock, valued at $17,726,810.88. The trade was a 3.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James Gantt sold 5,139 shares of the business's 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 completion of the sale, the executive vice president directly owned 55,676 shares in the company, valued at approximately $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. Corporate insiders own 0.84% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Allworth Financial LP raised its stake in shares of Manhattan Associates by 3.1% in the second quarter. Allworth Financial LP now owns 2,587 shares of the software maker's stock worth $360,000 after acquiring an additional 77 shares during the last quarter. V Square Quantitative Management LLC lifted its position in shares of Manhattan Associates by 35.9% during the first quarter. V Square Quantitative Management LLC now owns 348 shares of the software maker's stock worth $46,000 after purchasing an additional 92 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Manhattan Associates by 1.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 12,202 shares of the software maker's stock worth $1,624,000 after purchasing an additional 158 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Manhattan Associates by 21.6% during the first 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. grew its stake in shares of Manhattan Associates by 10.4% during 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 last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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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