Citigroup Cuts Manhattan Associates (NASDAQ:MANH) Price Target to $220.00

Manhattan Associates (NASDAQ:MANH) had its price target decreased by Citigroup from $260.00 to $220.00 in a research report report published on Wednesday morning, Benzinga reports. Citigroup currently has a neutral rating on the software maker’s stock.

MANH has been the subject of a number of other reports. Truist Financial increased their price target on shares of Manhattan Associates from $240.00 to $260.00 and gave the stock a buy rating in a research report on Wednesday, January 31st. Raymond James increased their price target on shares of Manhattan Associates from $214.00 to $250.00 and gave the stock an outperform rating in a research report on Wednesday, January 31st. Finally, Rosenblatt Securities reissued a neutral rating and issued a $225.00 price target on shares of Manhattan Associates in a research report on Wednesday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Manhattan Associates presently has a consensus rating of Moderate Buy and a consensus target price of $234.86.

Manhattan Associates Price Performance

Shares of MANH opened at $209.02 on Wednesday. Manhattan Associates has a one year low of $164.55 and a one year high of $266.94. The company has a 50-day moving average of $244.34 and a two-hundred day moving average of $226.79. The stock has a market cap of $12.87 billion, a price-to-earnings ratio of 68.31 and a beta of 1.44.

Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.55 by $0.23. Manhattan Associates had a net margin of 19.91% and a return on equity of 85.28%. The company had revenue of $238.26 million during the quarter, compared to analysts’ expectations of $223.99 million. Analysts anticipate that Manhattan Associates will post 2.81 earnings per share for the current year.

Insider Activity at Manhattan Associates

In related news, CEO Eddie Capel sold 10,897 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the transaction, the chief executive officer now owns 242,153 shares of the company’s stock, valued at $59,988,562.69. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Manhattan Associates news, EVP James Stewart Gantt sold 680 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total transaction of $169,211.20. Following the transaction, the executive vice president now owns 57,093 shares in the company, valued at $14,207,022.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Eddie Capel sold 10,897 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total value of $2,699,513.81. Following the transaction, the chief executive officer now owns 242,153 shares in the company, valued at approximately $59,988,562.69. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Manhattan Associates

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC grew its stake in shares of Manhattan Associates by 22.0% in the third quarter. CWM LLC now owns 997 shares of the software maker’s stock worth $197,000 after acquiring an additional 180 shares during the last quarter. AE Wealth Management LLC grew its stake in shares of Manhattan Associates by 119.8% in the third quarter. AE Wealth Management LLC now owns 3,271 shares of the software maker’s stock worth $647,000 after acquiring an additional 1,783 shares during the last quarter. IFP Advisors Inc grew its stake in shares of Manhattan Associates by 6.4% in the third quarter. IFP Advisors Inc now owns 1,250 shares of the software maker’s stock worth $247,000 after acquiring an additional 75 shares during the last quarter. Ritholtz Wealth Management acquired a new stake in shares of Manhattan Associates in the third quarter worth $245,000. Finally, Global Retirement Partners LLC grew its stake in shares of Manhattan Associates by 59.2% in the third quarter. Global Retirement Partners LLC now owns 581 shares of the software maker’s stock worth $116,000 after acquiring an additional 216 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

About Manhattan Associates

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.