Manhattan Associates (NASDAQ:MANH) Reaches New 52-Week High – Should You Buy?

Manhattan Associates, Inc. (NASDAQ:MANH) shares hit a new 52-week high during trading on Wednesday. The stock traded as high as $233.32 and last traded at $232.86, with a volume of 822,953 shares. The stock had previously closed at $225.43.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MANH. Wall Street Zen cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. UBS Group reissued a “buy” rating on shares of Manhattan Associates in a report on Wednesday, October 14th. DA Davidson lowered shares of Manhattan Associates from a “buy” rating to a “neutral” rating and set a $210.00 target price for the company. in a research report on Monday, September 28th. Weiss Ratings raised shares of Manhattan Associates from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 2nd. Finally, Robert W. Baird upped their target price on shares of Manhattan Associates from $218.00 to $260.00 and gave the company an “outperform” rating in a report on Wednesday, August 26th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Manhattan Associates has an average rating of “Moderate Buy” and an average target price of $229.33.

Manhattan Associates Stock Up 2.7%

The company has a fifty day simple moving average of $212.30 and a 200-day simple moving average of $171.34. The firm has a market cap of $14.12 billion, a P/E ratio of 69.39 and a beta of 0.95.

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

Insider Activity at Manhattan Associates

In other Manhattan Associates news, EVP James Gantt sold 5,139 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the sale, the executive vice president owned 55,676 shares in the company, valued at approximately $10,886,328.28. This trade represents a 8.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric Clark sold 3,000 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total transaction 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 SEC filing for this sale provides additional information. Corporate insiders own 0.84% of the company’s stock.

Institutional Trading of Manhattan Associates

Several institutional investors and hedge funds have recently modified their holdings of MANH. MBL Wealth LLC bought a new stake in shares of Manhattan Associates during the 3rd quarter valued at $274,000. Compass Wealth Management LLC purchased a new position in shares of Manhattan Associates during the 3rd quarter valued at $69,000. Root Financial Partners LLC purchased a new position in shares of Manhattan Associates during the 3rd quarter valued at $71,000. Quadrant Capital Group LLC boosted its holdings in Manhattan Associates by 16.8% in the 3rd quarter. Quadrant Capital Group LLC now owns 2,354 shares of the software maker’s stock worth $468,000 after buying an additional 338 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in Manhattan Associates by 133.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 16,483 shares of the software maker’s stock worth $3,275,000 after buying an additional 9,417 shares during the period. 98.45% of the stock is currently 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.