Manhattan Associates, Inc. (NASDAQ:MANH) Stock Has Average Price Target of $217.20

Shares of Manhattan Associates, Inc. (NASDAQ:MANH) have been given a consensus recommendation of “Moderate Buy” by the ten ratings firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $217.20.

Several brokerages recently weighed in on MANH. Citigroup boosted their target price on shares of Manhattan Associates from $177.00 to $193.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. DA Davidson lifted their price target on shares of Manhattan Associates from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Robert W. Baird boosted their price objective on shares of Manhattan Associates from $218.00 to $260.00 and gave the company an “outperform” rating in a research report on Wednesday, August 26th. Stifel Nicolaus boosted their price objective on shares of Manhattan Associates from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Finally, Weiss Ratings raised shares of Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 14th.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates 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 completion of the transaction, the chief executive officer directly owned 89,638 shares in the company, valued at approximately $17,726,810.88. The trade was a 3.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP James Gantt sold 5,139 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $195.53, for a total value of $1,004,828.67. Following the transaction, 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. The SEC filing for this sale provides additional information. Insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Manhattan Associates

Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas acquired a new stake in Manhattan Associates in the 4th quarter worth about $39,000. Leonteq Securities AG purchased a new stake in Manhattan Associates in the 4th quarter valued at about $44,000. NBH Bank acquired a new position in shares of Manhattan Associates during the 2nd quarter valued at about $37,000. Versant Capital Management Inc increased its stake in shares of Manhattan Associates by 508.9% during the 2nd quarter. Versant Capital Management Inc now owns 274 shares of the software maker’s stock valued at $38,000 after acquiring an additional 229 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in shares of Manhattan Associates during the 4th quarter worth about $55,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Associates Stock Performance

Manhattan Associates stock opened at $206.03 on Friday. Manhattan Associates has a fifty-two week low of $119.06 and a fifty-two week high of $227.03. The company has a market capitalization of $12.01 billion, a price-to-earnings ratio of 59.03 and a beta of 0.95. The stock has a fifty day moving average of $199.27 and a two-hundred day moving average of $160.91.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.07. The business had revenue of $297.79 million for the quarter, compared to the consensus estimate of $289.03 million. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.The business’s revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.31 earnings per share. On average, analysts forecast that Manhattan Associates will post 3.87 EPS for the current fiscal year.

Manhattan Associates Company Profile

Manhattan Associates, Inc is a technology company that develops cloud-based software for supply chain, inventory, and omnichannel commerce operations. Its solutions help businesses manage the movement of goods from suppliers and distribution centers to stores and customers, while improving visibility, efficiency, and service.

The company’s product portfolio includes Manhattan Active Warehouse Management, Manhattan Active Transportation Management, Manhattan Active Order Management, supply chain planning, inventory optimization, labor management, and customer engagement applications.