Manhattan Associates (NASDAQ:MANH) Given Neutral Rating at Rosenblatt Securities

Manhattan Associates (NASDAQ:MANH)‘s stock had its “neutral” rating reaffirmed by investment analysts at Rosenblatt Securities in a report issued on Wednesday, Benzinga reports. They currently have a $225.00 price objective on the software maker’s stock. Rosenblatt Securities’ price target points to a potential upside of 8.02% from the stock’s current price.

A number of other equities research analysts have also weighed in on MANH. Truist Financial lifted their target price on shares of Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Raymond James lifted their price target on shares of Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Finally, Citigroup initiated coverage on shares of Manhattan Associates in a research report on Wednesday, March 13th. They set a “neutral” rating and a $260.00 price target for the company. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $234.86.

Manhattan Associates Stock Up 1.0 %

Shares of Manhattan Associates stock opened at $208.30 on Wednesday. The company’s fifty day simple moving average is $245.12 and its two-hundred day simple moving average is $226.92. The firm has a market cap of $12.83 billion, a PE ratio of 68.07 and a beta of 1.44. Manhattan Associates has a 12-month low of $163.43 and a 12-month high of $266.94.

Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.23. The firm had revenue of $238.26 million for the quarter, compared to analyst estimates of $223.99 million. Manhattan Associates had a net margin of 19.91% and a return on equity of 85.28%. As a group, sell-side analysts expect that Manhattan Associates will post 2.81 earnings per share for the current fiscal year.

Insider Activity at Manhattan Associates

In related news, CEO Eddie Capel sold 10,897 shares of Manhattan Associates stock in a transaction dated 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 of the company’s stock, valued at approximately $59,988,562.69. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Manhattan Associates news, EVP James Stewart Gantt sold 680 shares of Manhattan Associates stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total value of $169,211.20. Following the completion of the transaction, the executive vice president now directly owns 57,093 shares of the company’s stock, valued at $14,207,022.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eddie Capel sold 10,897 shares of Manhattan Associates stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 242,153 shares of the company’s stock, valued at $59,988,562.69. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MANH. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Manhattan Associates by 14.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,161 shares of the software maker’s stock valued at $3,043,000 after purchasing an additional 1,580 shares during the last quarter. Aubrey Capital Management Ltd purchased a new position in shares of Manhattan Associates during the first quarter valued at approximately $1,927,000. Assenagon Asset Management S.A. raised its holdings in shares of Manhattan Associates by 758.7% during the first quarter. Assenagon Asset Management S.A. now owns 80,561 shares of the software maker’s stock valued at $20,159,000 after purchasing an additional 71,179 shares during the last quarter. Global Retirement Partners LLC raised its holdings in shares of Manhattan Associates by 82.7% during the first quarter. Global Retirement Partners LLC now owns 592 shares of the software maker’s stock valued at $148,000 after purchasing an additional 268 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in shares of Manhattan Associates by 2.3% during the first quarter. Louisiana State Employees Retirement System now owns 17,700 shares of the software maker’s stock valued at $4,429,000 after purchasing an additional 400 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates Company Profile

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.