Analysts Set Manhattan Associates, Inc. (NASDAQ:MANH) Target Price at $209.20

Shares of Manhattan Associates, Inc. (NASDAQ:MANH) have been assigned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $209.20.

Several research analysts recently weighed in on the stock. Wall Street Zen cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Barclays decreased their price objective on shares of Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating for the company in a research note on Friday, May 29th. Weiss Ratings raised shares of Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 14th. Rothschild & Co Redburn set a $145.00 target price on Manhattan Associates in a research note on Thursday, April 16th. Finally, Robert W. Baird upped their target price on Manhattan Associates from $186.00 to $218.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th.

Insider Buying and Selling at Manhattan Associates

In other news, EVP James Stewart Gantt sold 5,139 shares of Manhattan Associates stock in a transaction 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 sale, the executive vice president directly owned 55,676 shares in the company, valued at $10,886,328.28. The trade was a 8.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Eric Andrew Clark sold 1,000 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $146.77, for a total transaction of $146,770.00. Following the completion of the transaction, the chief executive officer directly owned 92,638 shares in the company, valued at $13,596,479.26. This trade represents a 1.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.84% of the stock is currently owned by insiders.

Institutional Trading of Manhattan Associates

A number of large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in shares of Manhattan Associates by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 1,753,909 shares of the software maker’s stock worth $305,199,000 after purchasing an additional 88,005 shares during the last quarter. MUFG Securities EMEA plc bought a new stake in shares of Manhattan Associates in the 4th quarter worth approximately $6,066,000. John G Ullman & Associates Inc. purchased a new position in Manhattan Associates in the fourth quarter valued at approximately $2,106,000. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in Manhattan Associates by 30.6% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 187,555 shares of the software maker’s stock valued at $32,505,000 after purchasing an additional 43,955 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in Manhattan Associates by 771.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 63,117 shares of the software maker’s stock valued at $10,939,000 after purchasing an additional 55,877 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Trading Up 2.4%

NASDAQ MANH opened at $195.23 on Thursday. The business has a fifty day simple moving average of $155.35 and a 200 day simple moving average of $146.06. Manhattan Associates has a 12 month low of $119.06 and a 12 month high of $220.72. The firm has a market capitalization of $11.38 billion, a P/E ratio of 55.94 and a beta of 0.93.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data 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 firm had revenue of $297.79 million for the quarter, compared to the consensus estimate of $289.03 million. During the same period in the previous year, the firm earned $1.31 EPS. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, sell-side analysts predict that Manhattan Associates will post 3.87 EPS for the current fiscal year.

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.