Manhattan Associates (NASDAQ:MANH) Raised to “Buy” at DA Davidson

DA Davidson upgraded shares of Manhattan Associates (NASDAQ:MANH) from a neutral rating to a buy rating in a research report sent to investors on Thursday morning, MarketBeat.com reports. They currently have $240.00 price target on the software maker’s stock, up from their prior price target of $220.00. DA Davidson also issued estimates for Manhattan Associates’ Q2 2024 earnings at $0.70 EPS, FY2024 earnings at $2.90 EPS and FY2025 earnings at $3.60 EPS.

Several other equities analysts also recently commented on MANH. Citigroup dropped their price objective on shares of Manhattan Associates from $260.00 to $220.00 and set a neutral rating for the company in a research note on Wednesday. Rosenblatt Securities restated a neutral rating and issued a $225.00 price target on shares of Manhattan Associates in a research report on Wednesday. Truist Financial upped their price target on shares of Manhattan Associates from $240.00 to $260.00 and gave the company a buy rating in a research report on Wednesday, January 31st. Finally, 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 research report on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $234.86.

Manhattan Associates Trading Up 0.3 %

Shares of NASDAQ:MANH opened at $209.02 on Thursday. The firm has a 50 day moving average of $243.64 and a 200-day moving average of $226.91. The stock has a market capitalization of $12.87 billion, a PE ratio of 68.31 and a beta of 1.44. Manhattan Associates has a 12 month low of $164.55 and a 12 month high of $266.94.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.55 by $0.23. The business had revenue of $238.26 million during the quarter, compared to the consensus estimate of $223.99 million. Manhattan Associates had a net margin of 19.91% and a return on equity of 85.28%. On average, research analysts predict that Manhattan Associates will post 2.72 EPS for the current fiscal 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 transaction of $2,699,513.81. Following the completion of the sale, the chief executive officer now directly owns 242,153 shares in the company, valued at $59,988,562.69. The transaction was disclosed in a filing with the SEC, which is available at this link. In related 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 transaction of $2,699,513.81. Following the transaction, the chief executive officer now directly 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 can be accessed through this hyperlink. Also, EVP James Stewart Gantt sold 680 shares of the stock in a transaction 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 directly owns 57,093 shares in the company, valued at $14,207,022.12. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. lifted its stake in shares of Manhattan Associates by 259.4% in the fourth quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock valued at $25,000 after buying an additional 83 shares in the last quarter. Bear Mountain Capital Inc. bought a new position in shares of Manhattan Associates in the fourth quarter valued at $26,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Manhattan Associates in the fourth quarter valued at $26,000. Contravisory Investment Management Inc. bought a new position in shares of Manhattan Associates in the first quarter valued at $31,000. Finally, Quarry LP bought a new position in shares of Manhattan Associates in the fourth quarter valued at $38,000. 98.45% of the stock is 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.