Manhattan Associates (NASDAQ:MANH) Receives “Market Perform” Rating from William Blair

William Blair reissued their market perform rating on shares of Manhattan Associates (NASDAQ:MANH) in a research note issued to investors on Wednesday, Zacks.com reports.

A number of other equities analysts also recently commented on MANH. Rosenblatt Securities reaffirmed a neutral rating and set a $225.00 price objective on shares of Manhattan Associates in a report on Wednesday. DA Davidson raised shares of Manhattan Associates from a neutral rating to a buy rating and lifted their price target for the company from $220.00 to $240.00 in a report on Thursday. Citigroup cut their price target on shares of Manhattan Associates from $260.00 to $220.00 and set a neutral rating for the company in a report on Wednesday. Truist Financial lifted their price target on shares of Manhattan Associates from $240.00 to $260.00 and gave the company a buy rating in a report on Wednesday, January 31st. Finally, Raymond James lifted their price target on shares of Manhattan Associates from $214.00 to $250.00 and gave the company an outperform rating in a report on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $234.86.

Manhattan Associates Trading Up 0.3 %

NASDAQ:MANH opened at $209.02 on Wednesday. Manhattan Associates has a 1 year low of $164.55 and a 1 year high of $266.94. The firm’s fifty day simple moving average is $244.34 and its 200 day simple moving average is $226.79. The firm has a market capitalization of $12.87 billion, a PE ratio of 68.31 and a beta of 1.44.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.23. Manhattan Associates had a net margin of 19.91% and a return on equity of 85.28%. The business had revenue of $238.26 million for the quarter, compared to analyst estimates of $223.99 million. As a group, analysts anticipate that Manhattan Associates will post 2.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other Manhattan Associates news, CEO Eddie Capel sold 10,897 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total value of $2,699,513.81. Following the completion of the transaction, the chief executive officer now directly owns 242,153 shares of the company’s stock, valued at $59,988,562.69. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP James Stewart Gantt sold 680 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total transaction of $169,211.20. Following the completion of the sale, the executive vice president now owns 57,093 shares in the company, valued at approximately $14,207,022.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Eddie Capel sold 10,897 shares of Manhattan Associates stock in a transaction that occurred 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 of the company’s stock, valued at approximately $59,988,562.69. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Manhattan Associates

Several institutional investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Manhattan Associates by 14.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,161 shares of the software maker’s stock worth $3,043,000 after buying an additional 1,580 shares during the period. Aubrey Capital Management Ltd acquired a new stake in shares of Manhattan Associates during the 1st quarter worth approximately $1,927,000. Assenagon Asset Management S.A. grew its position in shares of 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 buying an additional 71,179 shares during the period. Global Retirement Partners LLC grew its position in shares of 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 buying an additional 268 shares during the period. Finally, Louisiana State Employees Retirement System grew its position in shares of 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 buying an additional 400 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.