Shares of Manhattan Associates, Inc. (NASDAQ:MANH) have earned a consensus rating of “Buy” from the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $59.51.
Several brokerages have commented on MANH. Zacks Investment Research upgraded shares of Manhattan Associates from a “hold” rating to a “strong-buy” rating and set a $58.00 target price on the stock in a research report on Saturday, February 9th. BidaskClub upgraded shares of Manhattan Associates from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 13th. ValuEngine lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, February 7th. Finally, TheStreet upgraded shares of Manhattan Associates from a “c+” rating to a “b-” rating in a research report on Friday, March 1st.
In other news, SVP Robert G. Howell sold 2,750 shares of Manhattan Associates stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $54.00, for a total transaction of $148,500.00. Following the completion of the transaction, the senior vice president now owns 155,697 shares of the company’s stock, valued at approximately $8,407,638. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Bruce Richards sold 5,454 shares of Manhattan Associates stock in a transaction on Friday, March 1st. The stock was sold at an average price of $55.21, for a total value of $301,115.34. The disclosure for this sale can be found here. Insiders have sold a total of 10,310 shares of company stock valued at $562,834 in the last ninety days. Corporate insiders own 0.68% of the company’s stock.
Several large investors have recently added to or reduced their stakes in MANH. Norges Bank acquired a new position in shares of Manhattan Associates during the 4th quarter worth $47,849,000. Oregon Public Employees Retirement Fund raised its stake in shares of Manhattan Associates by 4,137.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,120,220 shares of the software maker’s stock worth $26,000 after buying an additional 1,093,781 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of Manhattan Associates by 278.6% during the 4th quarter. Prudential Financial Inc. now owns 594,942 shares of the software maker’s stock worth $25,207,000 after buying an additional 437,818 shares during the last quarter. AJO LP raised its stake in shares of Manhattan Associates by 111.4% during the 1st quarter. AJO LP now owns 825,354 shares of the software maker’s stock worth $45,485,000 after buying an additional 434,963 shares during the last quarter. Finally, First Trust Advisors LP acquired a new position in shares of Manhattan Associates during the 4th quarter worth $14,148,000.
Shares of NASDAQ MANH opened at $65.57 on Friday. The firm has a market cap of $4.24 billion, a price-to-earnings ratio of 41.50 and a beta of 1.57. Manhattan Associates has a one year low of $39.01 and a one year high of $68.96.
Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, April 23rd. The software maker reported $0.32 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.02). The company had revenue of $148.40 million for the quarter, compared to analysts’ expectations of $137.55 million. Manhattan Associates had a return on equity of 73.80% and a net margin of 17.85%. Manhattan Associates’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.37 earnings per share. As a group, sell-side analysts predict that Manhattan Associates will post 1.09 earnings per share for the current fiscal year.
About Manhattan Associates
Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations for retailers, wholesalers, manufacturers, logistics providers, and other organizations. The company offers Manhattan SCALE, a portfolio of logistics execution solutions that provide trading partner management, yard management, optimization, warehouse management, and transportation execution services; and Manhattan Active, a set of enterprise and store omni-channel solutions.
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