Manhattan Associates (NASDAQ:MANH) Price Target Raised to $275.00

by · The Cerbat Gem

Manhattan Associates (NASDAQ:MANH – Free Report) had its price target increased by Barclays from $239.00 to $275.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an overweight rating on the software maker’s stock.

MANH has been the subject of a number of other research reports. Wall Street Zen downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Sunday. Stifel Nicolaus boosted their target price on Manhattan Associates from $250.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, October 28th. Citigroup upped their price target on Manhattan Associates from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, October 28th. Robert W. Baird increased their price target on Manhattan Associates from $218.00 to $260.00 and gave the company an “outperform” rating in a report on Wednesday, August 26th. Finally, Morgan Stanley raised Manhattan Associates from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $180.00 to $250.00 in a report on Monday, October 12th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Manhattan Associates has an average rating of “Moderate Buy” and an average target price of $261.11.

Get Our Latest Report on MANH

Manhattan Associates Stock Up 2.1%

Manhattan Associates stock opened at $260.41 on Monday. The company has a fifty day simple moving average of $219.15 and a 200-day simple moving average of $167.91. The firm has a market capitalization of $15.12 billion, a price-to-earnings ratio of 72.94 and a beta of 0.85. Manhattan Associates has a 52-week low of $119.06 and a 52-week high of $263.47.

Manhattan Associates (NASDAQ:MANH – Get Free Report) last posted its quarterly earnings results on Tuesday, October 27th. The software maker reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.09. The firm had revenue of $306.19 million for the quarter, compared to the consensus estimate of $297.01 million. Manhattan Associates had a net margin of 18.41% and a return on equity of 98.67%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the firm posted $1.36 earnings per share. On average, research analysts anticipate that Manhattan Associates will post 3.88 EPS for the current fiscal year.

Insider Transactions at Manhattan Associates

In related news, Director Linda T. Hollembaek sold 1,315 shares of the firm’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $250.00, for a total transaction of $328,750.00. Following the completion of the sale, the director directly owned 10,953 shares in the company, valued at approximately $2,738,250. This trade represents a 10.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eric Clark sold 3,000 shares of Manhattan Associates stock in a transaction dated Tuesday, August 11th. The stock was 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 trade represents a 3.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Manhattan Associates

Several institutional investors and hedge funds have recently bought and sold shares of MANH. Allworth Financial LP lifted its holdings in shares of Manhattan Associates by 3.1% in 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 during the last quarter. V Square Quantitative Management LLC boosted 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 worth $46,000 after purchasing an additional 92 shares during the period. D.A. Davidson & CO. boosted its position in shares of Manhattan Associates by 6.5% during the 3rd quarter. D.A. Davidson & CO. now owns 1,728 shares of the software maker’s stock worth $343,000 after purchasing an additional 106 shares during the period. NorthCrest Asset Manangement LLC increased its holdings in Manhattan Associates by 7.4% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 1,772 shares of the software maker’s stock valued at $366,000 after purchasing an additional 122 shares during the last quarter. Finally, Motley Fool Asset Management LLC increased its holdings in Manhattan Associates by 8.6% in the 3rd quarter. Motley Fool Asset Management LLC now owns 1,953 shares of the software maker’s stock valued at $388,000 after purchasing an additional 155 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Associates Company Profile

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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.

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