Manhattan Associates (NASDAQ:MANH) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Manhattan Associates (NASDAQ:MANH) from a hold rating to a buy rating in a research report released on Saturday morning,Wall Street Zen reports.

A number of other analysts have also recently issued reports on the stock. Citigroup lifted their target price on shares of Manhattan Associates from $203.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, October 20th. UBS Group restated a “buy” rating on shares of Manhattan Associates in a report on Wednesday, October 14th. DA Davidson downgraded shares of Manhattan Associates from a “buy” rating to a “neutral” rating and set a $210.00 price target on the stock. in a report on Monday, September 28th. Robert W. Baird lifted their price objective on shares of Manhattan Associates from $218.00 to $260.00 and gave the company an “outperform” rating in a research note on Wednesday, August 26th. Finally, Morgan Stanley upgraded shares of Manhattan Associates from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $180.00 to $250.00 in a report on Monday, October 12th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $229.33.

Manhattan Associates Trading Down 0.8%

NASDAQ:MANH opened at $236.40 on Friday. The firm has a market capitalization of $13.78 billion, a price-to-earnings ratio of 67.74 and a beta of 0.95. Manhattan Associates has a 1-year low of $119.06 and a 1-year high of $242.63. The business’s fifty day moving average price is $213.57 and its 200 day moving average price is $165.35.

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

Insider Activity

In other news, CEO Eric Clark sold 3,000 shares of the stock in a transaction 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 transaction, the chief executive officer owned 89,638 shares in the company, valued at approximately $17,726,810.88. This represents a 3.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP James Gantt sold 5,139 shares of the stock in a transaction dated 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 completion of 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Manhattan Associates

Several institutional investors have recently added to or reduced their stakes in MANH. Angeles Wealth Management LLC bought a new stake in Manhattan Associates during the 3rd quarter worth about $250,000. Penobscot Investment Management Company Inc. acquired a new stake in Manhattan Associates in the 3rd quarter valued at about $238,000. Park Avenue Securities LLC acquired a new stake in Manhattan Associates in the 3rd quarter valued at about $304,000. Verdence Capital Advisors LLC bought a new position in shares of Manhattan Associates in the third quarter worth about $368,000. Finally, Apollon Wealth Management LLC raised its stake in shares of Manhattan Associates by 16.6% in the third quarter. Apollon Wealth Management LLC now owns 2,575 shares of the software maker’s stock worth $512,000 after acquiring an additional 367 shares during the last quarter. 98.45% of the stock is owned by institutional investors.

Manhattan Associates Company Profile

Manhattan Associates, Inc develops supply chain commerce software for retailers, wholesalers, manufacturers and logistics providers. Its solutions help organizations plan, execute and optimize inventory, warehouse, transportation and omnichannel fulfillment operations.

The company’s product portfolio includes warehouse management, transportation management, order management, inventory optimization, labor management and point-of-sale capabilities. Manhattan Associates also provides tools that support warehouse automation, store fulfillment, distributed order management and customer engagement across digital and physical retail channels.

Founded in 1990 and headquartered in Atlanta, Georgia, Manhattan Associates serves customers across North America, Europe, Asia-Pacific and other international markets.