Manhattan Associates (NASDAQ:MANH) Price Target Cut to $220.00 by Analysts at Citigroup

Manhattan Associates (NASDAQ:MANH) had its price objective reduced by Citigroup from $260.00 to $220.00 in a report issued on Wednesday, Benzinga reports. Citigroup currently has a neutral rating on the software maker’s stock.

Other equities research analysts have also recently issued research reports about the company. Raymond James boosted their price objective on Manhattan Associates from $214.00 to $250.00 and gave the stock an outperform rating in a report on Wednesday, January 31st. Rosenblatt Securities restated a neutral rating and set a $225.00 price objective on shares of Manhattan Associates in a report on Wednesday. Finally, Truist Financial boosted their price objective on Manhattan Associates from $240.00 to $260.00 and gave the stock a buy rating in a report on Wednesday, January 31st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $225.57.

Manhattan Associates Stock Performance

Manhattan Associates stock opened at $206.32 on Wednesday. Manhattan Associates has a 52 week low of $152.32 and a 52 week high of $266.94. The stock has a market capitalization of $12.70 billion, a P/E ratio of 67.43 and a beta of 1.44. The stock has a 50-day simple moving average of $245.97 and a 200 day simple moving average of $227.06.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.23. Manhattan Associates had a return on equity of 87.22% and a net margin of 19.91%. The business had revenue of $238.26 million during the quarter, compared to analysts’ expectations of $223.99 million. Research analysts forecast that Manhattan Associates will post 2.78 earnings per share for the current year.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, CEO Eddie Capel sold 10,897 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the completion of the transaction, the chief executive officer now directly owns 242,153 shares in the company, valued at $59,988,562.69. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Manhattan Associates news, EVP James Stewart Gantt sold 680 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total transaction of $169,211.20. Following the completion of the transaction, the executive vice president now directly owns 57,093 shares in the company, valued at $14,207,022.12. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Eddie Capel sold 10,897 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the transaction, the chief executive officer now owns 242,153 shares of the company’s stock, valued at $59,988,562.69. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Blue Trust Inc. increased its holdings in shares of Manhattan Associates by 259.4% during the fourth quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock worth $25,000 after buying an additional 83 shares in the last quarter. Bear Mountain Capital Inc. acquired a new position in shares of Manhattan Associates during the fourth quarter worth $26,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Manhattan Associates in the fourth quarter valued at $26,000. Contravisory Investment Management Inc. acquired a new stake in Manhattan Associates in the first quarter valued at $31,000. Finally, Quarry LP acquired a new stake in Manhattan Associates in the fourth quarter valued at $38,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

About Manhattan Associates

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Warehouse Management Solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and Transportation Management Solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, POS, and customer engagement tools for enterprises and stores.