Manhattan Associates (NASDAQ:MANH) Receives Neutral Rating from Rosenblatt Securities

Rosenblatt Securities reissued their neutral rating on shares of Manhattan Associates (NASDAQ:MANH) in a research note published on Monday, Benzinga reports. The brokerage currently has a $225.00 target price on the software maker’s stock.

Several other equities analysts have also recently issued reports on the company. Citigroup assumed coverage on Manhattan Associates in a research report on Wednesday, March 13th. They set a neutral rating and a $260.00 target price on the stock. Raymond James boosted their target price on Manhattan Associates from $214.00 to $250.00 and gave the stock an outperform rating in a research report on Wednesday, January 31st. Finally, Truist Financial boosted their target price on Manhattan Associates from $240.00 to $260.00 and gave the stock a buy rating in a research report on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Manhattan Associates presently has an average rating of Moderate Buy and a consensus price target of $231.29.

Manhattan Associates Stock Up 0.9 %

MANH opened at $230.44 on Monday. The business has a 50 day moving average price of $247.10 and a two-hundred day moving average price of $226.09. The company has a market cap of $14.19 billion, a PE ratio of 81.72 and a beta of 1.44. Manhattan Associates has a 52 week low of $152.32 and a 52 week high of $266.94.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.55 by $0.23. The firm had revenue of $238.26 million during the quarter, compared to the consensus estimate of $223.99 million. Manhattan Associates had a return on equity of 84.08% and a net margin of 19.01%. As a group, sell-side analysts expect that Manhattan Associates will post 2.78 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP James Stewart Gantt sold 680 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total value of $169,211.20. Following the sale, the executive vice president now owns 57,093 shares in the company, valued at approximately $14,207,022.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Manhattan Associates news, CEO Eddie Capel sold 10,897 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the sale, the chief executive officer now owns 242,153 shares in the company, valued at approximately $59,988,562.69. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP James Stewart Gantt sold 680 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total value of $169,211.20. Following the sale, the executive vice president now owns 57,093 shares in the company, valued at approximately $14,207,022.12. The disclosure for this sale can be found here. Insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Manhattan Associates

A number of large investors have recently bought and sold shares of MANH. Private Advisor Group LLC grew its holdings in Manhattan Associates by 19.6% during the 1st quarter. Private Advisor Group LLC now owns 1,911 shares of the software maker’s stock valued at $265,000 after buying an additional 313 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Manhattan Associates by 7.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,518 shares of the software maker’s stock valued at $349,000 after buying an additional 174 shares during the last quarter. Great West Life Assurance Co. Can lifted its stake in shares of Manhattan Associates by 8.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 34,926 shares of the software maker’s stock worth $4,978,000 after purchasing an additional 2,644 shares during the period. Raymond James Trust N.A. lifted its stake in shares of Manhattan Associates by 6.2% during the 1st quarter. Raymond James Trust N.A. now owns 2,841 shares of the software maker’s stock worth $394,000 after purchasing an additional 166 shares during the period. Finally, Aviva PLC lifted its stake in shares of Manhattan Associates by 6.1% during the 1st quarter. Aviva PLC now owns 16,701 shares of the software maker’s stock worth $2,317,000 after purchasing an additional 965 shares during the period. 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.