Loop Capital Increases Manhattan Associates (NASDAQ:MANH) Price Target to $285.00

Manhattan Associates (NASDAQ:MANH) had its price target upped by Loop Capital from $265.00 to $285.00 in a research report released on Monday, Benzinga reports. Loop Capital currently has a buy rating on the software maker’s stock.

Several other equities research analysts have also issued reports on the company. DA Davidson lifted their price target on Manhattan Associates from $260.00 to $285.00 and gave the stock a buy rating in a research note on Wednesday, July 24th. StockNews.com cut shares of Manhattan Associates from a buy rating to a hold rating in a research report on Thursday, August 1st. Finally, Citigroup upped their price objective on shares of Manhattan Associates from $220.00 to $257.00 and gave the company a neutral rating in a research note on Friday, June 28th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Manhattan Associates presently has a consensus rating of Moderate Buy and an average price target of $260.29.

Manhattan Associates Trading Up 2.2 %

Shares of MANH opened at $275.17 on Monday. Manhattan Associates has a 12-month low of $182.97 and a 12-month high of $278.08. The company has a market cap of $16.94 billion, a PE ratio of 89.92 and a beta of 1.50. The stock has a 50-day moving average price of $251.58 and a 200-day moving average price of $240.14.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, July 23rd. The software maker reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.22. The business 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 quarter in the previous year, the company earned $0.63 EPS. As a group, analysts predict that Manhattan Associates will post 3.01 earnings per share for the current year.

Insider Buying and Selling at Manhattan Associates

In other news, EVP James Stewart Gantt sold 6,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 46,287 shares of the company’s stock, valued at $11,872,615.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

Institutional Trading of Manhattan Associates

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tobam bought a new position in Manhattan Associates in the 1st quarter worth $25,000. Innealta Capital LLC purchased a new position in shares of Manhattan Associates during the second quarter valued at about $26,000. Benjamin Edwards Inc. bought a new position in Manhattan Associates in the first quarter worth about $27,000. International Assets Investment Management LLC purchased a new position in shares of Manhattan Associates during the 2nd quarter worth approximately $27,000. Finally, Contravisory Investment Management Inc. bought a new position in shares of Manhattan Associates in the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors 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.