Manhattan Associates (NASDAQ:MANH) Given Neutral Rating at Rosenblatt Securities

Rosenblatt Securities restated their neutral rating on shares of Manhattan Associates (NASDAQ:MANH) in a report published on Wednesday morning, Benzinga reports. Rosenblatt Securities currently has a $225.00 target price on the software maker’s stock.

A number of other research firms have also recently issued reports on MANH. Raymond James lifted their target price on shares of Manhattan Associates from $214.00 to $250.00 and gave the company an outperform rating in a research note on Wednesday, January 31st. Truist Financial lifted their target price on shares of Manhattan Associates from $240.00 to $260.00 and gave the company a buy rating in a research note on Wednesday, January 31st. Finally, Citigroup began coverage on shares of Manhattan Associates in a research note on Wednesday, March 13th. They issued a neutral rating and a $260.00 target price for the company. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $234.86.

Manhattan Associates Stock Down 10.5 %

Shares of MANH opened at $206.32 on Wednesday. The stock has a market cap of $12.70 billion, a price-to-earnings ratio of 67.43 and a beta of 1.44. Manhattan Associates has a 12 month low of $152.32 and a 12 month high of $266.94. The company has a 50-day moving average price of $245.97 and a two-hundred day moving average price of $227.06.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.23. Manhattan Associates had a net margin of 19.91% and a return on equity of 87.22%. The firm had revenue of $238.26 million during the quarter, compared to analysts’ expectations of $223.99 million. Equities research 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 business’s stock in a transaction that occurred 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 completion of the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Manhattan Associates news, CEO Eddie Capel sold 10,897 shares of Manhattan Associates stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the completion of the sale, the chief executive officer now owns 242,153 shares of the company’s stock, valued at approximately $59,988,562.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James Stewart Gantt sold 680 shares of Manhattan Associates stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total transaction of $169,211.20. Following the sale, the executive vice president now directly owns 57,093 shares of the company’s stock, valued at approximately $14,207,022.12. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Institutional Trading of Manhattan Associates

A number of institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. grew its holdings in Manhattan Associates by 758.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 80,561 shares of the software maker’s stock worth $20,159,000 after acquiring an additional 71,179 shares during the period. Global Retirement Partners LLC grew its holdings in Manhattan Associates by 82.7% during the 1st quarter. Global Retirement Partners LLC now owns 592 shares of the software maker’s stock worth $148,000 after acquiring an additional 268 shares during the period. Louisiana State Employees Retirement System grew its holdings in Manhattan Associates by 2.3% during the 1st quarter. Louisiana State Employees Retirement System now owns 17,700 shares of the software maker’s stock worth $4,429,000 after acquiring an additional 400 shares during the period. Wesbanco Bank Inc. acquired a new stake in Manhattan Associates during the 1st quarter worth $469,000. Finally, Accurate Wealth Management LLC grew its holdings in Manhattan Associates by 4.1% during the 1st quarter. Accurate Wealth Management LLC now owns 1,371 shares of the software maker’s stock worth $343,000 after acquiring an additional 54 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.