Manhattan Associates, Inc. (NASDAQ:MANH) Receives $222.45 Consensus Target Price from Brokerages

Manhattan Associates, Inc. (NASDAQ:MANH) has been given a consensus rating of “Moderate Buy” by the fourteen ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $222.4545.

MANH has been the subject of several research reports. DA Davidson boosted their price objective on shares of Manhattan Associates from $225.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Raymond James Financial boosted their price objective on shares of Manhattan Associates from $195.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, July 23rd. Loop Capital boosted their price objective on shares of Manhattan Associates from $170.00 to $200.00 and gave the company a “hold” rating in a report on Tuesday, July 22nd. Zacks Research cut shares of Manhattan Associates from a “strong-buy” rating to a “hold” rating in a report on Monday, September 22nd. Finally, Citigroup reissued a “neutral” rating and set a $200.00 price objective (up from $177.00) on shares of Manhattan Associates in a report on Wednesday, July 16th.

Insider Activity

In other Manhattan Associates news, Director Linda T. Hollembaek sold 2,024 shares of the company’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $221.53, for a total transaction of $448,376.72. Following the completion of the sale, the director directly owned 11,907 shares of the company’s stock, valued at approximately $2,637,757.71. This represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James Stewart Gantt sold 2,300 shares of the company’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $220.33, for a total transaction of $506,759.00. Following the sale, the executive vice president directly owned 48,660 shares of the company’s stock, valued at approximately $10,721,257.80. This represents a 4.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,666 shares of company stock valued at $9,251,781 over the last three months. Insiders own 0.72% of the company’s stock.

Institutional Trading of Manhattan Associates

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Alliancebernstein L.P. increased its holdings in Manhattan Associates by 1.5% during the second quarter. Alliancebernstein L.P. now owns 2,283,580 shares of the software maker’s stock valued at $450,939,000 after buying an additional 34,205 shares during the last quarter. AQR Capital Management LLC increased its holdings in Manhattan Associates by 181.6% during the second quarter. AQR Capital Management LLC now owns 1,928,053 shares of the software maker’s stock valued at $380,733,000 after buying an additional 1,243,390 shares during the last quarter. Swedbank AB increased its holdings in Manhattan Associates by 50.0% during the second quarter. Swedbank AB now owns 1,199,969 shares of the software maker’s stock valued at $236,958,000 after buying an additional 399,969 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Manhattan Associates by 101.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,100,410 shares of the software maker’s stock valued at $190,415,000 after buying an additional 554,840 shares during the last quarter. Finally, Norges Bank purchased a new stake in Manhattan Associates during the second quarter valued at approximately $162,545,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates Stock Performance

Shares of Manhattan Associates stock opened at $200.76 on Thursday. The stock has a market capitalization of $12.14 billion, a PE ratio of 56.08 and a beta of 1.12. Manhattan Associates has a 52-week low of $140.81 and a 52-week high of $312.60. The company has a 50-day simple moving average of $211.54 and a two-hundred day simple moving average of $196.06.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, July 22nd. The software maker reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.19. The business had revenue of $272.42 million during the quarter, compared to analysts’ expectations of $263.62 million. Manhattan Associates had a net margin of 20.91% and a return on equity of 82.91%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.18 earnings per share. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. As a group, equities research analysts forecast that Manhattan Associates will post 3.3 EPS for the current fiscal year.

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.