Manhattan Associates (NASDAQ:MANH) Reaches New 1-Year High – Time to Buy?

Shares of Manhattan Associates, Inc. (NASDAQ:MANH) reached a new 52-week high during trading on Thursday . The stock traded as high as $224.68 and last traded at $224.34, with a volume of 36820 shares changing hands. The stock had previously closed at $215.89.

Analysts Set New Price Targets

MANH has been the subject of several research reports. DA Davidson lifted their price objective on Manhattan Associates from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Barclays lowered their target price on Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. Robert W. Baird raised their price target on Manhattan Associates from $218.00 to $260.00 and gave the stock an “outperform” rating in a research report on Wednesday. Wall Street Zen cut Manhattan Associates from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Finally, Weiss Ratings upgraded Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 14th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $213.40.

Manhattan Associates Stock Up 4.7%

The firm has a market cap of $13.17 billion, a price-to-earnings ratio of 64.57 and a beta of 0.93. The firm has a fifty day moving average price of $170.31 and a 200-day moving average price of $150.07.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, July 28th. The software maker reported $1.39 EPS for the quarter, beating the consensus estimate of $1.32 by $0.07. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.The firm had revenue of $297.79 million during the quarter, compared to analyst estimates of $289.03 million. During the same period in the prior year, the firm posted $1.31 earnings per share. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. Equities research analysts anticipate that Manhattan Associates, Inc. will post 3.87 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Eric Andrew Clark sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total value of $593,280.00. Following the completion of the sale, the chief executive officer directly owned 89,638 shares in the company, valued at approximately $17,726,810.88. The trade was a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James Stewart Gantt sold 5,139 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the transaction, the executive vice president directly owned 55,676 shares of the company’s stock, valued at $10,886,328.28. This trade represents a 8.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 9,139 shares of company stock worth $1,744,879. Insiders own 0.84% of the company’s stock.

Institutional Trading of Manhattan Associates

Several institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System raised its position in shares of Manhattan Associates by 13,428.1% in the 2nd quarter. California State Teachers Retirement System now owns 9,492,116 shares of the software maker’s stock worth $1,321,777,000 after buying an additional 9,421,950 shares during the period. Vanguard Group Inc. grew its position in Manhattan Associates by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 6,957,028 shares of the software maker’s stock valued at $1,205,723,000 after acquiring an additional 136,708 shares during the period. BlackRock Inc. purchased a new stake in Manhattan Associates during the second quarter valued at about $944,285,000. T. Rowe Price Investment Management Inc. increased its stake in Manhattan Associates by 35.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,580,241 shares of the software maker’s stock worth $447,182,000 after acquiring an additional 671,589 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in Manhattan Associates by 6.9% during the fourth quarter. AQR Capital Management LLC now owns 2,219,539 shares of the software maker’s stock worth $384,668,000 after acquiring an additional 142,407 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

About Manhattan Associates

Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.