Manhattan Associates (NASDAQ:MANH) Price Target Cut to $220.00

Manhattan Associates (NASDAQ:MANH) had its price objective cut by Citigroup from $260.00 to $220.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a neutral rating on the software maker’s stock.

Other equities research analysts have also issued research reports about the company. Raymond James lifted their price target on Manhattan Associates from $214.00 to $250.00 and gave the stock an outperform rating in a research note on Wednesday, January 31st. Rosenblatt Securities reaffirmed a neutral rating and set a $225.00 price target on shares of Manhattan Associates in a research note on Wednesday. Finally, Truist Financial lifted their price target on Manhattan Associates from $240.00 to $260.00 and gave the stock a buy rating in a research note on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $225.57.

Manhattan Associates Stock Down 10.5 %

Manhattan Associates stock opened at $206.32 on Wednesday. Manhattan Associates has a 52 week low of $152.32 and a 52 week high of $266.94. The business has a 50-day simple moving average of $245.97 and a 200 day simple moving average of $227.06. The stock has a market cap of $12.70 billion, a price-to-earnings ratio of 67.43 and a beta of 1.44.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.55 by $0.23. Manhattan Associates had a return on equity of 87.22% and a net margin of 19.91%. The business had revenue of $238.26 million during the quarter, compared to analysts’ expectations of $223.99 million. On average, research analysts anticipate that Manhattan Associates will post 2.78 earnings per share for the current year.

Insider Activity

In other news, CEO Eddie Capel sold 10,897 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was 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 of the company’s stock, valued at approximately $59,988,562.69. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Manhattan Associates news, CEO Eddie Capel sold 10,897 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was 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 of the company’s stock, valued at approximately $59,988,562.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James Stewart Gantt sold 680 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total value of $169,211.20. Following the transaction, the executive vice president now directly 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. 0.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MANH. FMR LLC grew its holdings in shares of Manhattan Associates by 2.1% during the 3rd quarter. FMR LLC now owns 1,628,850 shares of the software maker’s stock worth $321,958,000 after acquiring an additional 33,549 shares during the period. Morgan Stanley grew its holdings in shares of Manhattan Associates by 0.9% during the 3rd quarter. Morgan Stanley now owns 1,522,444 shares of the software maker’s stock worth $300,927,000 after acquiring an additional 13,303 shares during the period. Franklin Resources Inc. grew its holdings in shares of Manhattan Associates by 16.8% during the 4th quarter. Franklin Resources Inc. now owns 872,966 shares of the software maker’s stock worth $187,967,000 after acquiring an additional 125,541 shares during the period. Norges Bank purchased a new position in shares of Manhattan Associates during the 4th quarter worth approximately $146,984,000. Finally, Northern Trust Corp grew its holdings in shares of Manhattan Associates by 10.5% during the 3rd quarter. Northern Trust Corp now owns 645,187 shares of the software maker’s stock worth $127,528,000 after acquiring an additional 61,437 shares during the period. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Company Profile

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.