Manhattan Associates, Inc. (NASDAQ:MANH) Receives $292.89 Average Price Target from Analysts

Shares of Manhattan Associates, Inc. (NASDAQ:MANH) have been given a consensus rating of “Moderate Buy” by the ten ratings firms that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $292.89.

Several analysts have recently commented on MANH shares. Raymond James lifted their price target on shares of Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Truist Financial increased their price target on Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Piper Sandler started coverage on shares of Manhattan Associates in a report on Monday, November 25th. They issued an “overweight” rating and a $326.00 price objective on the stock. StockNews.com raised shares of Manhattan Associates from a “hold” rating to a “buy” rating in a research note on Friday, January 3rd. Finally, Robert W. Baird boosted their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd.

Manhattan Associates Stock Performance

Shares of Manhattan Associates stock opened at $265.38 on Tuesday. The business’s 50 day moving average price is $282.69 and its 200 day moving average price is $269.22. The company has a market cap of $16.21 billion, a price-to-earnings ratio of 75.39 and a beta of 1.52. Manhattan Associates has a one year low of $205.12 and a one year high of $312.60.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.29. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The firm had revenue of $266.70 million during the quarter, compared to analyst estimates of $262.90 million. During the same quarter in the prior year, the firm posted $0.79 earnings per share. Manhattan Associates’s quarterly revenue was up 11.9% on a year-over-year basis. On average, analysts predict that Manhattan Associates will post 3.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Bruce Richards sold 4,150 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $289.73, for a total value of $1,202,379.50. Following the sale, the senior vice president now directly owns 22,086 shares in the company, valued at approximately $6,398,976.78. This trade represents a 15.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total value of $1,001,147.50. Following the completion of the transaction, the executive vice president now owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. This trade represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

Institutional Trading of Manhattan Associates

Several hedge funds have recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of Manhattan Associates by 0.6% in the 3rd quarter. State Street Corp now owns 2,203,139 shares of the software maker’s stock valued at $619,918,000 after purchasing an additional 12,787 shares during the last quarter. FMR LLC lifted its holdings in Manhattan Associates by 7.3% during the 3rd quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock worth $539,521,000 after buying an additional 130,817 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Manhattan Associates by 5.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,514,941 shares of the software maker’s stock worth $426,308,000 after acquiring an additional 82,995 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Manhattan Associates by 213.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock valued at $284,169,000 after acquiring an additional 687,933 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Manhattan Associates during the 3rd quarter worth about $234,249,000. Institutional investors and hedge funds 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.