Manhattan Associates (NASDAQ:MANH) Given Neutral Rating at Rosenblatt Securities

Rosenblatt Securities restated their neutral rating on shares of Manhattan Associates (NASDAQ:MANH) in a research report sent to investors on Monday morning, Benzinga reports. They currently have a $225.00 price target on the software maker’s stock.

Several other equities research analysts also recently commented on MANH. Truist Financial upped their target price on shares of Manhattan Associates from $240.00 to $260.00 and gave the company a buy rating in a research note on Wednesday, January 31st. Raymond James upped their price target on shares of Manhattan Associates from $214.00 to $250.00 and gave the company an outperform rating in a report on Wednesday, January 31st. Finally, Citigroup assumed coverage on shares of Manhattan Associates in a report on Wednesday, March 13th. They issued a neutral rating and a $260.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Manhattan Associates presently has an average rating of Moderate Buy and an average target price of $231.29.

Manhattan Associates Price Performance

MANH opened at $230.49 on Monday. The company has a market cap of $14.19 billion, a price-to-earnings ratio of 81.73 and a beta of 1.44. The firm has a 50 day simple moving average of $248.11 and a 200 day simple moving average of $225.81. Manhattan Associates has a fifty-two week low of $152.32 and a fifty-two week high of $266.94.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.23. The business had revenue of $238.26 million during the quarter, compared to the consensus estimate of $223.99 million. Manhattan Associates had a net margin of 19.01% and a return on equity of 84.08%. As a group, analysts expect that Manhattan Associates will post 2.78 EPS for the current year.

Insider Buying and Selling

In related news, CEO Eddie Capel sold 10,897 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the completion of the transaction, the chief executive officer now owns 242,153 shares in the company, valued at $59,988,562.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Manhattan Associates news, CEO Eddie Capel sold 10,897 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total value of $2,699,513.81. Following the completion of the sale, the chief executive officer now owns 242,153 shares in the company, valued at $59,988,562.69. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP James Stewart Gantt sold 680 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total transaction of $169,211.20. Following the completion of the sale, the executive vice president now owns 57,093 shares of the company’s stock, valued at approximately $14,207,022.12. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by corporate insiders.

Institutional Trading of Manhattan Associates

Large investors have recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky lifted its stake in Manhattan Associates by 59.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 21,612 shares of the software maker’s stock valued at $4,271,000 after acquiring an additional 8,094 shares during the last quarter. Highland Capital Management LLC bought a new position in shares of Manhattan Associates in the fourth quarter valued at about $1,142,000. Redhawk Wealth Advisors Inc. bought a new position in shares of Manhattan Associates in the fourth quarter valued at about $1,050,000. Zions Bancorporation N.A. raised its position in shares of Manhattan Associates by 6.2% in the third quarter. Zions Bancorporation N.A. now owns 8,418 shares of the software maker’s stock valued at $1,664,000 after purchasing an additional 489 shares during the period. Finally, Meeder Asset Management Inc. bought a new position in shares of Manhattan Associates in the fourth quarter valued at about $2,039,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

About Manhattan Associates

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Warehouse Management Solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and Transportation Management Solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, POS, and customer engagement tools for enterprises and stores.