Manhattan Associates (NASDAQ:MANH) PT Raised to $315.00

Manhattan Associates (NASDAQ:MANH) had its target price upped by DA Davidson from $285.00 to $315.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a buy rating on the software maker’s stock. DA Davidson also issued estimates for Manhattan Associates’ Q4 2024 earnings at $0.69 EPS, FY2024 earnings at $3.40 EPS and FY2025 earnings at $3.57 EPS.

A number of other analysts also recently issued reports on the company. Loop Capital lifted their price target on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Raymond James upped their price target on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a report on Wednesday. Citigroup increased their price target on shares of Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Truist Financial boosted their price objective on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Finally, Robert W. Baird lifted their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $286.38.

Manhattan Associates Stock Performance

MANH stock opened at $275.70 on Wednesday. The company’s 50 day moving average price is $274.95 and its 200 day moving average price is $247.01. The firm has a market capitalization of $16.89 billion, a price-to-earnings ratio of 78.32 and a beta of 1.50. Manhattan Associates has a fifty-two week low of $186.77 and a fifty-two week high of $307.50.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.29. The company had revenue of $266.70 million for the quarter, compared to the consensus estimate of $262.90 million. Manhattan Associates had a net margin of 21.38% and a return on equity of 86.65%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.79 EPS. Equities analysts forecast that Manhattan Associates will post 3.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP James Stewart Gantt sold 6,000 shares of the 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 sale, the executive vice president now owns 46,287 shares in the company, valued at approximately $11,872,615.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.72% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Manhattan Associates

Several large investors have recently modified their holdings of MANH. Vanguard Group Inc. increased its stake in Manhattan Associates by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 6,671,321 shares of the software maker’s stock valued at $1,669,365,000 after buying an additional 58,905 shares during the period. TD Asset Management Inc increased its stake in shares of Manhattan Associates by 10.5% during the first quarter. TD Asset Management Inc now owns 607,167 shares of the software maker’s stock worth $151,931,000 after acquiring an additional 57,859 shares during the period. Bank of New York Mellon Corp raised its holdings in Manhattan Associates by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 604,115 shares of the software maker’s stock worth $149,023,000 after purchasing an additional 2,156 shares in the last quarter. RGM Capital LLC lifted its position in Manhattan Associates by 4.1% in the second quarter. RGM Capital LLC now owns 583,037 shares of the software maker’s stock valued at $143,824,000 after purchasing an additional 23,000 shares during the period. Finally, Bessemer Group Inc. boosted its holdings in Manhattan Associates by 0.3% in the 1st quarter. Bessemer Group Inc. now owns 561,901 shares of the software maker’s stock valued at $140,604,000 after purchasing an additional 1,757 shares in the last quarter. Hedge funds and other 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.