Manhattan Associates (NASDAQ:MANH) Receives “Market Perform” Rating from William Blair

William Blair reaffirmed their market perform rating on shares of Manhattan Associates (NASDAQ:MANH) in a research note published on Wednesday, Zacks.com reports.

A number of other equities research analysts also recently issued reports on the company. DA Davidson upgraded Manhattan Associates from a neutral rating to a buy rating and boosted their price target for the company from $220.00 to $240.00 in a research note on Thursday. Citigroup cut their price target on Manhattan Associates from $260.00 to $220.00 and set a neutral rating for the company in a research note on Wednesday. Rosenblatt Securities restated a neutral rating and set a $225.00 price target on shares of Manhattan Associates in a research note on Wednesday. Truist Financial boosted their price target on Manhattan Associates from $240.00 to $260.00 and gave the company a buy rating in a research note on Wednesday, January 31st. Finally, Raymond James boosted their price target on Manhattan Associates from $214.00 to $250.00 and gave the company an outperform rating in a research note on Wednesday, January 31st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $234.86.

Manhattan Associates Stock Performance

NASDAQ MANH opened at $209.02 on Wednesday. Manhattan Associates has a one year low of $164.55 and a one year high of $266.94. The stock has a 50-day moving average of $243.64 and a 200 day moving average of $226.91. The company has a market capitalization of $12.87 billion, a price-to-earnings ratio of 68.31 and a beta of 1.44.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data 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 85.28% and a net margin of 19.91%. The company had revenue of $238.26 million during the quarter, compared to the consensus estimate of $223.99 million. On average, equities analysts predict that Manhattan Associates will post 2.81 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP James Stewart Gantt sold 680 shares of Manhattan Associates stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Eddie Capel sold 10,897 shares of the business’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 value of $2,699,513.81. Following the transaction, the chief executive officer now directly owns 242,153 shares of the company’s stock, valued at approximately $59,988,562.69. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP James Stewart Gantt sold 680 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 57,093 shares in the company, valued at $14,207,022.12. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MANH. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Manhattan Associates by 59.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 21,612 shares of the software maker’s stock worth $4,271,000 after acquiring an additional 8,094 shares in the last quarter. Highland Capital Management LLC purchased a new stake in shares of Manhattan Associates during the 4th quarter worth approximately $1,142,000. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Manhattan Associates during the 4th quarter worth approximately $1,050,000. Meeder Asset Management Inc. purchased a new stake in shares of Manhattan Associates during the 4th quarter worth approximately $2,039,000. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of Manhattan Associates during the 4th quarter worth approximately $3,725,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

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.