Manhattan Associates (NASDAQ:MANH) Reaches New 12-Month High – Here’s What Happened

Manhattan Associates, Inc. (NASDAQ:MANH)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $224.68 and last traded at $224.34, with a volume of 36820 shares. The stock had previously closed at $215.89.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Barclays dropped their target price on shares of Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating for the company in a research report on Friday, May 29th. DA Davidson boosted their price objective on shares of Manhattan Associates from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Stifel Nicolaus increased their price objective on shares of Manhattan Associates from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Morgan Stanley set a $180.00 target price on shares of Manhattan Associates in a research note on Wednesday, July 29th. Finally, Robert W. Baird lifted their target price on shares of Manhattan Associates from $218.00 to $260.00 and gave the company an “outperform” rating in a report on Wednesday. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Manhattan Associates currently has an average rating of “Moderate Buy” and a consensus target price of $213.40.

Manhattan Associates Trading Up 4.7%

The stock has a market capitalization of $13.17 billion, a price-to-earnings ratio of 64.57 and a beta of 0.93. The firm has a 50-day moving average of $170.31 and a 200 day moving average of $150.07.

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 company had revenue of $297.79 million during the quarter, compared to the consensus estimate of $289.03 million. Manhattan Associates had a net margin of 18.67% and a return on equity of 86.72%. Manhattan Associates’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the company earned $1.31 earnings per share. As a group, research analysts forecast that Manhattan Associates, Inc. will post 3.87 EPS for the current year.

Insiders Place Their Bets

In other Manhattan Associates news, EVP James Stewart Gantt sold 5,139 shares of the business’s stock in a transaction 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 transaction, the executive vice president owned 55,676 shares in the company, valued at $10,886,328.28. The trade was a 8.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Eric Andrew Clark sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total transaction of $593,280.00. Following the completion of the transaction, the chief executive officer directly owned 89,638 shares of the company’s stock, valued at approximately $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. Over the last ninety days, insiders have sold 9,139 shares of company stock valued at $1,744,879. Company insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its stake in Manhattan Associates by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 1,753,909 shares of the software maker’s stock worth $305,199,000 after purchasing an additional 88,005 shares during the last quarter. MUFG Securities EMEA plc acquired a new position in Manhattan Associates in the fourth quarter worth $6,066,000. John G Ullman & Associates Inc. bought a new stake in Manhattan Associates during the fourth quarter valued at $2,106,000. VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in Manhattan Associates by 30.6% during the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 187,555 shares of the software maker’s stock valued at $32,505,000 after purchasing an additional 43,955 shares during the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in shares of Manhattan Associates during the second quarter worth $94,049,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

About Manhattan Associates

Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.