Manhattan Associates, Inc. (NASDAQ:MANH) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Manhattan Associates, Inc. (NASDAQ:MANH) have received an average recommendation of “Moderate Buy” from the eight analysts that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $257.43.

A number of brokerages have recently weighed in on MANH. Citigroup upped their target price on Manhattan Associates from $220.00 to $257.00 and gave the company a “neutral” rating in a report on Friday, June 28th. Redburn Atlantic began coverage on shares of Manhattan Associates in a research note on Tuesday, May 14th. They issued a “buy” rating and a $260.00 price objective on the stock. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Loop Capital upped their price target on shares of Manhattan Associates from $250.00 to $265.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $225.00 price objective on shares of Manhattan Associates in a report on Wednesday, April 24th.

Manhattan Associates Stock Performance

Shares of NASDAQ:MANH opened at $249.81 on Friday. The firm has a 50 day simple moving average of $239.96 and a 200 day simple moving average of $237.54. Manhattan Associates has a 52 week low of $182.97 and a 52 week high of $266.94. The company has a market cap of $15.38 billion, a PE ratio of 81.64 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, July 23rd. The software maker reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.22. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The company had revenue of $265.30 million during the quarter, compared to analyst estimates of $255.83 million. During the same quarter in the prior year, the company earned $0.63 earnings per share. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities analysts predict that Manhattan Associates will post 3.01 earnings per share for the current year.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the transaction, the executive vice president now directly owns 46,287 shares of the company’s stock, valued at $11,872,615.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is owned by company insiders.

Institutional Investors Weigh In On Manhattan Associates

A number of large investors have recently added to or reduced their stakes in MANH. Toronto Dominion Bank lifted its stake in shares of Manhattan Associates by 2.1% in the second quarter. Toronto Dominion Bank now owns 5,992 shares of the software maker’s stock worth $1,478,000 after buying an additional 121 shares during the last quarter. Squarepoint Ops LLC raised its holdings in Manhattan Associates by 448.9% in the 2nd quarter. Squarepoint Ops LLC now owns 160,649 shares of the software maker’s stock worth $39,629,000 after acquiring an additional 131,381 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Manhattan Associates by 60.4% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 11,791 shares of the software maker’s stock worth $2,909,000 after acquiring an additional 4,441 shares during the period. Bank of Montreal Can lifted its position in Manhattan Associates by 7.5% during the 2nd quarter. Bank of Montreal Can now owns 19,594 shares of the software maker’s stock worth $4,845,000 after acquiring an additional 1,359 shares during the last quarter. Finally, Evergreen Capital Management LLC bought a new stake in Manhattan Associates during the second quarter valued at about $283,000. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Company Profile

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.