Manhattan Associates (NASDAQ:MANH) Reaches New 52-Week High at $267.24

Manhattan Associates, Inc. (NASDAQ:MANH) shares hit a new 52-week high on Wednesday . The company traded as high as $267.24 and last traded at $267.08, with a volume of 177405 shares changing hands. The stock had previously closed at $259.49.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on MANH shares. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. DA Davidson upped their target price on shares of Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Citigroup lifted their price target on shares of Manhattan Associates from $220.00 to $257.00 and gave the company a “neutral” rating in a research report on Friday, June 28th. Finally, Loop Capital boosted their price target on Manhattan Associates from $250.00 to $265.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $257.43.

Manhattan Associates Stock Down 0.1 %

The company has a 50 day moving average of $249.71 and a 200 day moving average of $239.79. The stock has a market capitalization of $16.15 billion, a price-to-earnings ratio of 85.88 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, July 23rd. The software maker reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.22. The company had revenue of $265.30 million during the quarter, compared to analysts’ expectations of $255.83 million. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.63 EPS. On average, research analysts forecast that Manhattan Associates, Inc. will post 3.01 earnings per share for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On Manhattan Associates

Several institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank acquired a new stake in Manhattan Associates during the fourth quarter valued at approximately $146,984,000. TD Asset Management Inc raised its position in shares of Manhattan Associates by 234.2% during the 4th quarter. TD Asset Management Inc now owns 549,308 shares of the software maker’s stock valued at $118,277,000 after acquiring an additional 384,941 shares in the last quarter. M&G Plc bought a new position in Manhattan Associates during the first quarter worth $77,433,000. Epoch Investment Partners Inc. boosted its holdings in Manhattan Associates by 110.6% in the fourth quarter. Epoch Investment Partners Inc. now owns 369,352 shares of the software maker’s stock worth $79,529,000 after purchasing an additional 193,951 shares during the period. Finally, Fiera Capital Corp acquired a new position in shares of Manhattan Associates in the 2nd quarter valued at about $44,705,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

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.