Manhattan Associates (NASDAQ:MANH) PT Raised to $287.00

Manhattan Associates (NASDAQ:MANH) had its target price upped by stock analysts at Citigroup from $257.00 to $287.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the software maker’s stock. Citigroup’s price target would suggest a potential upside of 1.69% from the stock’s current price.

Several other research analysts also recently commented on MANH. Loop Capital lifted their price target on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, DA Davidson raised their target price on Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $264.57.

Manhattan Associates Trading Down 1.3 %

Shares of MANH traded down $3.78 during trading hours on Wednesday, reaching $282.22. 241,740 shares of the stock traded hands, compared to its average volume of 410,042. The company has a market cap of $17.29 billion, a price-to-earnings ratio of 92.22 and a beta of 1.50. The stock has a fifty day simple moving average of $254.71 and a 200 day simple moving average of $240.65. Manhattan Associates has a 52 week low of $182.97 and a 52 week high of $287.63.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Tuesday, July 23rd. The software maker reported $1.18 EPS for the quarter, topping the consensus estimate of $0.96 by $0.22. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The company had revenue of $265.30 million during the quarter, compared to the consensus estimate of $255.83 million. During the same period last year, the firm earned $0.63 EPS. Manhattan Associates’s revenue for the quarter was up 14.8% on a year-over-year basis. Analysts predict that Manhattan Associates will post 3.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP James Stewart Gantt sold 6,000 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total value of $1,539,000.00. Following the completion of the transaction, the executive vice president now owns 46,287 shares of the company’s stock, valued at approximately $11,872,615.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.72% of the stock is owned by insiders.

Institutional Trading of Manhattan Associates

Several large investors have recently bought and sold shares of the business. Tobam acquired a new position in shares of Manhattan Associates in the 1st quarter valued at $25,000. Innealta Capital LLC acquired a new stake in Manhattan Associates during the second quarter worth approximately $26,000. Benjamin Edwards Inc. acquired a new stake in Manhattan Associates during the 1st quarter worth $27,000. International Assets Investment Management LLC purchased a new stake in shares of Manhattan Associates in the 2nd quarter valued at about $27,000. Finally, Contravisory Investment Management Inc. purchased a new stake in Manhattan Associates in the first quarter valued at approximately $31,000. Hedge funds and other institutional investors 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.