Stifel Nicolaus Issues Positive Forecast for Manhattan Associates (NASDAQ:MANH) Stock Price

Manhattan Associates (NASDAQ:MANH) had its target price upped by stock analysts at Stifel Nicolaus from $225.00 to $250.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. Stifel Nicolaus’ price target indicates a potential upside of 12.25% from the stock’s previous close.

Several other brokerages also recently weighed in on MANH. Citigroup raised their price target on shares of Manhattan Associates from $177.00 to $193.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. UBS Group reaffirmed a “buy” rating on shares of Manhattan Associates in a research report on Wednesday. Morgan Stanley raised Manhattan Associates from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $180.00 to $250.00 in a research report on Monday. Weiss Ratings upgraded Manhattan Associates from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 2nd. Finally, Robert W. Baird lifted their target price on Manhattan Associates from $218.00 to $260.00 and gave the stock an “outperform” rating in a report on Wednesday, August 26th. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $223.70.

Manhattan Associates Trading Up 2.2%

NASDAQ MANH opened at $222.71 on Wednesday. Manhattan Associates has a 12 month low of $119.06 and a 12 month high of $227.03. The stock has a market cap of $12.99 billion, a P/E ratio of 63.81 and a beta of 0.95. The stock’s fifty day moving average price is $207.44 and its 200-day moving average price is $166.56.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.07. The firm had revenue of $297.79 million during the quarter, compared to analyst estimates of $289.03 million. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%. Manhattan Associates’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.31 EPS. As a group, analysts forecast that Manhattan Associates will post 3.86 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP James Gantt sold 5,139 shares of Manhattan Associates stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $195.53, for a total value of $1,004,828.67. Following the completion of the sale, the executive vice president directly owned 55,676 shares in the company, valued at $10,886,328.28. The trade was a 8.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Eric Clark sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total transaction of $593,280.00. Following the transaction, the chief executive officer directly owned 89,638 shares of the company’s stock, valued at $17,726,810.88. The trade was a 3.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Manhattan Associates

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in Manhattan Associates during the 2nd quarter valued at $944,285,000. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Manhattan Associates by 35.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,580,241 shares of the software maker’s stock valued at $447,182,000 after buying an additional 671,589 shares during the period. Swedbank AB lifted its holdings in shares of Manhattan Associates by 25.0% during the 1st quarter. Swedbank AB now owns 1,500,000 shares of the software maker’s stock valued at $199,680,000 after buying an additional 300,000 shares during the period. William Blair Investment Management LLC purchased a new position in shares of Manhattan Associates in the 2nd quarter worth $94,049,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Manhattan Associates by 2.0% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,608 shares of the software maker’s stock worth $89,671,000 after buying an additional 13,128 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

About Manhattan Associates

Manhattan Associates, Inc develops cloud-based software designed to help businesses manage supply chains, inventory, warehouse operations, transportation, and omnichannel commerce. Its solutions are used by retailers, wholesalers, manufacturers, distributors, logistics providers, and other organizations seeking to coordinate products, orders, labor, and fulfillment activities.

The company’s product portfolio includes Manhattan Active Warehouse Management, Manhattan Active Transportation Management, Manhattan Active Order Management, and related tools for inventory optimization, workforce management, customer engagement, and point-of-sale operations.