Manhattan Associates (NASDAQ:MANH) Upgraded to Buy at DA Davidson

Manhattan Associates (NASDAQ:MANH) was upgraded by investment analysts at DA Davidson from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The brokerage currently has a $240.00 price objective on the software maker’s stock, up from their prior price objective of $220.00. DA Davidson’s price target would indicate a potential upside of 14.82% from the company’s current price. DA Davidson also issued estimates for Manhattan Associates’ Q2 2024 earnings at $0.70 EPS, FY2024 earnings at $2.90 EPS and FY2025 earnings at $3.60 EPS.

A number of other brokerages also recently issued reports on MANH. Truist Financial raised their target price on Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Citigroup reduced their price target on shares of Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday. Rosenblatt Securities reiterated a “neutral” rating and issued a $225.00 price objective on shares of Manhattan Associates in a research report on Wednesday. Finally, Raymond James lifted their price target on shares of Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $234.86.

Manhattan Associates Stock Up 0.3 %

MANH stock opened at $209.02 on Thursday. Manhattan Associates has a 52-week low of $164.55 and a 52-week high of $266.94. The firm has a market cap of $12.87 billion, a P/E ratio of 68.31 and a beta of 1.44. The company’s 50-day simple moving average is $244.34 and its 200-day simple moving average is $226.79.

Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.23. Manhattan Associates had a return on equity of 85.28% and a net margin of 19.91%. The business had revenue of $238.26 million during the quarter, compared to the consensus estimate of $223.99 million. On average, analysts anticipate that Manhattan Associates will post 2.81 earnings per share for the current fiscal year.

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 680 shares of the firm’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 transaction of $169,211.20. Following the sale, the executive vice president now owns 57,093 shares of the company’s stock, valued at $14,207,022.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Eddie Capel sold 10,897 shares of the stock in a transaction dated 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 directly owns 242,153 shares of the company’s stock, valued at $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 on Tuesday, February 6th. The stock was 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 in the company, valued at approximately $14,207,022.12. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Institutional Trading of Manhattan Associates

A number of institutional investors have recently bought and sold shares of MANH. CWM LLC raised its position in Manhattan Associates by 22.0% during the third quarter. CWM LLC now owns 997 shares of the software maker’s stock worth $197,000 after acquiring an additional 180 shares during the last quarter. AE Wealth Management LLC boosted its stake in Manhattan Associates by 119.8% in the 3rd quarter. AE Wealth Management LLC now owns 3,271 shares of the software maker’s stock worth $647,000 after buying an additional 1,783 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Manhattan Associates by 6.4% during the 3rd quarter. IFP Advisors Inc now owns 1,250 shares of the software maker’s stock valued at $247,000 after acquiring an additional 75 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Manhattan Associates by 59.2% during the 3rd quarter. Global Retirement Partners LLC now owns 581 shares of the software maker’s stock worth $116,000 after acquiring an additional 216 shares during the period. Finally, SG Americas Securities LLC grew its holdings in Manhattan Associates by 61.5% in the third quarter. SG Americas Securities LLC now owns 9,287 shares of the software maker’s stock valued at $1,836,000 after purchasing an additional 3,537 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

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.