Manhattan Associates (NASDAQ:MANH) Shares Gap Up – Should You Buy?

Manhattan Associates, Inc. (NASDAQ:MANH) gapped up prior to trading on Monday. The stock had previously closed at $204.89, but opened at $212.13. Manhattan Associates shares last traded at $220.2230, with a volume of 66,715 shares trading hands.

Analyst Ratings Changes

MANH has been the topic of a number of analyst reports. Stifel Nicolaus boosted their price objective on Manhattan Associates from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. DA Davidson downgraded Manhattan Associates from a “buy” rating to a “neutral” rating and set a $210.00 target price for the company. in a research note on Monday, September 28th. Morgan Stanley raised Manhattan Associates from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $180.00 to $250.00 in a report on Monday. Robert W. Baird lifted their target price on Manhattan Associates from $218.00 to $260.00 and gave the company an “outperform” rating in a report on Wednesday, August 26th. Finally, UBS Group set a $210.00 price target on Manhattan Associates in a research report on Monday, September 28th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Manhattan Associates presently has a consensus rating of “Moderate Buy” and a consensus target price of $221.20.

Manhattan Associates Trading Up 2.2%

The company’s fifty day simple moving average is $207.44 and its 200 day simple moving average is $166.56. The stock has a market capitalization of $12.99 billion, a P/E ratio of 63.81 and a beta of 0.95.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.07. The firm had revenue of $297.79 million during the quarter, compared to analyst estimates of $289.03 million. Manhattan Associates had a net margin of 18.67% and a return on equity of 86.72%. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.31 EPS. Equities research analysts predict that Manhattan Associates, Inc. will post 3.86 earnings per share for the current year.

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, CEO Eric Clark sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total value of $593,280.00. Following the transaction, the chief executive officer directly owned 89,638 shares in the company, valued at $17,726,810.88. This represents a 3.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James Gantt sold 5,139 shares of the firm’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $195.53, for a total value of $1,004,828.67. Following the completion of the sale, the executive vice president directly owned 55,676 shares in the company, valued at approximately $10,886,328.28. The trade was a 8.45% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.84% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Allworth Financial LP boosted its stake in shares of Manhattan Associates by 3.1% during the 2nd quarter. Allworth Financial LP now owns 2,587 shares of the software maker’s stock worth $360,000 after acquiring an additional 77 shares in the last quarter. V Square Quantitative Management LLC grew its position in shares of Manhattan Associates by 35.9% during the 1st quarter. V Square Quantitative Management LLC now owns 348 shares of the software maker’s stock valued at $46,000 after acquiring an additional 92 shares during the period. NorthCrest Asset Manangement LLC grew its position in shares of Manhattan Associates by 7.4% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 1,772 shares of the software maker’s stock valued at $366,000 after acquiring an additional 122 shares during the period. Oregon Public Employees Retirement Fund grew its position in shares of Manhattan Associates by 1.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 12,202 shares of the software maker’s stock valued at $1,624,000 after acquiring an additional 158 shares during the period. Finally, Parallel Advisors LLC increased its stake in shares of Manhattan Associates by 21.6% in the 1st quarter. Parallel Advisors LLC now owns 907 shares of the software maker’s stock valued at $121,000 after purchasing an additional 161 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors.

Manhattan Associates Company Profile

Manhattan Associates, Inc develops cloud-based software designed to help businesses manage supply chains, inventory, warehouse operations, transportation, and omnichannel commerce. Its solutions are used by retailers, wholesalers, manufacturers, distributors, logistics providers, and other organizations seeking to coordinate products, orders, labor, and fulfillment activities.

The company’s product portfolio includes Manhattan Active Warehouse Management, Manhattan Active Transportation Management, Manhattan Active Order Management, and related tools for inventory optimization, workforce management, customer engagement, and point-of-sale operations.