Manhattan Associates (NASDAQ:MANH) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Manhattan Associates (NASDAQ:MANH) from a buy rating to a hold rating in a report issued on Monday.

Several other equities research analysts have also issued reports on the stock. Robert W. Baird lifted their price objective 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. Piper Sandler started coverage on Manhattan Associates in a research note on Monday, November 25th. They set an “overweight” rating and a $326.00 price target for the company. DA Davidson raised their price objective on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Citigroup upped their target price on Manhattan Associates from $287.00 to $306.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Finally, Truist Financial lifted their price target on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $292.89.

Manhattan Associates Price Performance

Shares of MANH stock opened at $274.46 on Monday. Manhattan Associates has a fifty-two week low of $205.12 and a fifty-two week high of $312.60. The stock’s 50-day moving average is $282.75 and its two-hundred day moving average is $269.68. The firm has a market cap of $16.76 billion, a P/E ratio of 77.97 and a beta of 1.52.

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

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was 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 $12,334,137.20. This represents a 7.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Bruce Richards sold 4,150 shares of Manhattan Associates stock in a transaction that occurred 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 $6,398,976.78. The trade was a 15.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MANH. Capital Performance Advisors LLP acquired a new position in shares of Manhattan Associates in the 3rd quarter valued at $34,000. Ashton Thomas Private Wealth LLC bought a new stake in Manhattan Associates in the second quarter valued at about $31,000. Ashton Thomas Securities LLC acquired a new position in Manhattan Associates in the third quarter worth about $42,000. Carolina Wealth Advisors LLC bought a new position in Manhattan Associates during the third quarter worth about $50,000. Finally, Brooklyn Investment Group acquired a new stake in Manhattan Associates during the third quarter valued at approximately $58,000. 98.45% of the stock is owned by 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.