Manhattan Associates (NASDAQ:MANH) Stock Moved Down to “Hold” by Wall Street Zen

Wall Street Zen downgraded shares of Manhattan Associates (NASDAQ:MANH) from a buy rating to a hold rating in a research note issued to investors on Sunday,Wall Street Zen reports.

Several other research firms also recently issued reports on MANH. Truist Financial reissued a “buy” rating and issued a $305.00 price target (up from $240.00) on shares of Manhattan Associates in a research report on Wednesday, October 28th. UBS Group set a $305.00 price objective on Manhattan Associates in a research note on Wednesday. Weiss Ratings raised shares of Manhattan Associates from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 2nd. Morgan Stanley upgraded shares of Manhattan Associates from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $180.00 to $250.00 in a research note on Monday, October 12th. Finally, Citigroup increased their target price on Manhattan Associates from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, October 28th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $257.11.

Manhattan Associates Price Performance

NASDAQ:MANH opened at $248.39 on Friday. Manhattan Associates has a 12-month low of $119.06 and a 12-month high of $254.00. The firm has a market capitalization of $14.48 billion, a P/E ratio of 69.58 and a beta of 0.85. The stock’s fifty day simple moving average is $216.59 and its 200-day simple moving average is $166.68.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, October 27th. The software maker reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.09. The company had revenue of $306.19 million for the quarter, compared to analyst estimates of $297.01 million. Manhattan Associates had a return on equity of 98.67% and a net margin of 18.41%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.36 earnings per share. As a group, equities research analysts expect that Manhattan Associates will post 3.88 earnings per share for the current year.

Insider Transactions at Manhattan Associates

In related news, CEO Eric Clark sold 3,000 shares of Manhattan Associates stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total value of $593,280.00. Following the sale, the chief executive officer owned 89,638 shares of the company’s stock, valued at approximately $17,726,810.88. This trade represents a 3.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.84% of the company’s stock.

Institutional Trading of Manhattan Associates

A number of institutional investors have recently bought and sold shares of the business. NBH Bank acquired a new stake in shares of Manhattan Associates during the second quarter worth $37,000. Versant Capital Management Inc lifted its stake in shares of Manhattan Associates by 508.9% during the second quarter. Versant Capital Management Inc now owns 274 shares of the software maker’s stock worth $38,000 after purchasing an additional 229 shares in the last quarter. V Square Quantitative Management LLC increased its position in shares of Manhattan Associates by 35.9% during the first quarter. V Square Quantitative Management LLC now owns 348 shares of the software maker’s stock worth $46,000 after acquiring an additional 92 shares during the last quarter. Compass Wealth Management LLC acquired a new stake in Manhattan Associates during the third quarter valued at approximately $69,000. Finally, Root Financial Partners LLC bought a new position in shares of Manhattan Associates during the third quarter valued at approximately $71,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

About Manhattan Associates

Manhattan Associates, Inc develops supply chain commerce software for retailers, wholesalers, manufacturers and logistics providers. Its solutions help organizations plan, execute and optimize inventory, warehouse, transportation and omnichannel fulfillment operations.

The company’s product portfolio includes warehouse management, transportation management, order management, inventory optimization, labor management and point-of-sale capabilities. Manhattan Associates also provides tools that support warehouse automation, store fulfillment, distributed order management and customer engagement across digital and physical retail channels.

Founded in 1990 and headquartered in Atlanta, Georgia, Manhattan Associates serves customers across North America, Europe, Asia-Pacific and other international markets.