Manhattan Associates (NASDAQ:MANH) Receives “Neutral” Rating from Rosenblatt Securities

Rosenblatt Securities restated their neutral rating on shares of Manhattan Associates (NASDAQ:MANH) in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a $225.00 price target on the software maker’s stock.

Several other analysts also recently issued reports on the stock. Raymond James upped their price target on shares of Manhattan Associates from $214.00 to $250.00 and gave the company an outperform rating in a report on Wednesday, January 31st. Citigroup initiated coverage on shares of Manhattan Associates in a research note on Wednesday, March 13th. They set a neutral rating and a $260.00 price objective on the stock. Finally, Truist Financial upped their price objective on shares of Manhattan Associates from $240.00 to $260.00 and gave the company a buy rating in a research note on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Manhattan Associates currently has an average rating of Moderate Buy and a consensus target price of $234.86.

Manhattan Associates Trading Up 0.3 %

Shares of MANH opened at $209.02 on Wednesday. The firm’s 50-day moving average is $244.34 and its two-hundred day moving average is $226.79. Manhattan Associates has a twelve month low of $164.55 and a twelve month high of $266.94. The firm has a market capitalization of $12.87 billion, a P/E ratio of 68.31 and a beta of 1.44.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $223.99 million. Analysts predict that Manhattan Associates will post 2.81 EPS for the current year.

Insider Transactions at Manhattan Associates

In other news, CEO Eddie Capel sold 10,897 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now owns 242,153 shares of the company’s stock, valued at $59,988,562.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Eddie Capel sold 10,897 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 242,153 shares of the company’s stock, valued at approximately $59,988,562.69. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP James Stewart Gantt sold 680 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total transaction of $169,211.20. Following the completion of the transaction, the executive vice president now owns 57,093 shares in the company, valued at $14,207,022.12. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MANH. CWM LLC lifted its position in shares of Manhattan Associates by 22.0% in the 3rd quarter. CWM LLC now owns 997 shares of the software maker’s stock worth $197,000 after buying an additional 180 shares during the last quarter. AE Wealth Management LLC boosted its stake in Manhattan Associates by 119.8% during the 3rd quarter. AE Wealth Management LLC now owns 3,271 shares of the software maker’s stock valued at $647,000 after purchasing an additional 1,783 shares during the period. IFP Advisors Inc boosted its stake in Manhattan Associates by 6.4% during the 3rd quarter. IFP Advisors Inc now owns 1,250 shares of the software maker’s stock valued at $247,000 after purchasing an additional 75 shares during the period. Ritholtz Wealth Management acquired a new position in Manhattan Associates during the 3rd quarter valued at about $245,000. Finally, Global Retirement Partners LLC boosted its stake in Manhattan Associates by 59.2% during the 3rd quarter. Global Retirement Partners LLC now owns 581 shares of the software maker’s stock valued at $116,000 after purchasing an additional 216 shares during the period. 98.45% of the stock is currently owned by institutional investors.

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.