William Blair Reiterates Market Perform Rating for Manhattan Associates (NASDAQ:MANH)

Manhattan Associates (NASDAQ:MANH)‘s stock had its “market perform” rating reiterated by stock analysts at William Blair in a research report issued to clients and investors on Wednesday, Zacks.com reports.

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

Manhattan Associates Stock Performance

Shares of NASDAQ:MANH opened at $209.02 on Wednesday. The company’s 50-day moving average is $244.34 and its 200 day moving average is $226.79. The company has a market capitalization of $12.87 billion, a P/E ratio of 68.31 and a beta of 1.44. Manhattan Associates has a fifty-two week low of $164.55 and a fifty-two week high of $266.94.

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

Insider Activity

In other news, CEO Eddie Capel sold 10,897 shares of the company’s stock in a transaction dated 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 directly owns 242,153 shares in the company, valued at $59,988,562.69. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 shares were sold at an average price of $248.84, for a total value of $169,211.20. Following the transaction, the executive vice president now directly owns 57,093 shares in the company, valued at $14,207,022.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Eddie Capel sold 10,897 shares of the company’s 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 completion of the transaction, the chief executive officer now owns 242,153 shares in the company, valued at $59,988,562.69. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Lindbrook Capital LLC increased its position in shares of Manhattan Associates by 28.8% in the fourth quarter. Lindbrook Capital LLC now owns 206 shares of the software maker’s stock worth $44,000 after purchasing an additional 46 shares during the last quarter. Accurate Wealth Management LLC boosted its stake in Manhattan Associates by 4.1% in the first quarter. Accurate Wealth Management LLC now owns 1,371 shares of the software maker’s stock worth $343,000 after buying an additional 54 shares in the last quarter. Capital Insight Partners LLC boosted its stake in Manhattan Associates by 0.4% in the third quarter. Capital Insight Partners LLC now owns 15,161 shares of the software maker’s stock worth $2,997,000 after buying an additional 57 shares in the last quarter. Signaturefd LLC boosted its stake in Manhattan Associates by 4.7% in the third quarter. Signaturefd LLC now owns 1,274 shares of the software maker’s stock worth $252,000 after buying an additional 57 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in Manhattan Associates by 25.9% in the fourth quarter. UMB Bank n.a. now owns 282 shares of the software maker’s stock worth $61,000 after buying an additional 58 shares in the last quarter. 98.45% of the stock is currently 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.