Manhattan Associates (NASDAQ:MANH) Price Target Raised to $306.00 at Citigroup

Manhattan Associates (NASDAQ:MANH) had its target price upped by Citigroup from $287.00 to $306.00 in a report released on Monday morning,Benzinga reports. The firm currently has a neutral rating on the software maker’s stock.

A number of other brokerages have also weighed in on MANH. Loop Capital raised their target price on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Piper Sandler began coverage on shares of Manhattan Associates in a research report on Monday, November 25th. They issued an “overweight” rating and a $326.00 price objective for the company. Raymond James upped their target price on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Robert W. Baird raised their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Finally, Truist Financial upped their price objective on Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $292.89.

Manhattan Associates Stock Performance

MANH opened at $300.88 on Monday. The firm has a market cap of $18.38 billion, a price-to-earnings ratio of 85.48 and a beta of 1.50. The firm’s 50-day simple moving average is $286.65 and its 200-day simple moving average is $263.13. Manhattan Associates has a twelve month low of $199.23 and a twelve month high of $312.60.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.29. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The firm had revenue of $266.70 million for the quarter, compared to analysts’ expectations of $262.90 million. During the same period in the prior year, the firm earned $0.79 earnings per share. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Manhattan Associates will post 3.39 EPS for the current fiscal year.

Insider Buying and Selling at Manhattan Associates

In related news, SVP Bruce Richards sold 4,150 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the completion of the transaction, the senior vice president now owns 22,086 shares in the company, valued at approximately $6,398,976.78. The trade was a 15.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the sale, the executive vice president now directly owns 42,812 shares of the company’s stock, valued at $12,334,137.20. The trade was a 7.51 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Manhattan Associates

Several institutional investors and hedge funds have recently made changes to their positions in the company. Fidelis Capital Partners LLC raised its stake in Manhattan Associates by 3.2% during the 3rd quarter. Fidelis Capital Partners LLC now owns 1,279 shares of the software maker’s stock worth $347,000 after buying an additional 40 shares during the period. Ascent Group LLC increased its holdings in shares of Manhattan Associates by 4.8% in the third quarter. Ascent Group LLC now owns 896 shares of the software maker’s stock worth $252,000 after acquiring an additional 41 shares in the last quarter. UMB Bank n.a. raised its position in shares of Manhattan Associates by 16.7% during the third quarter. UMB Bank n.a. now owns 301 shares of the software maker’s stock worth $85,000 after purchasing an additional 43 shares during the period. SkyView Investment Advisors LLC lifted its holdings in shares of Manhattan Associates by 0.9% during the 2nd quarter. SkyView Investment Advisors LLC now owns 5,018 shares of the software maker’s stock valued at $1,238,000 after purchasing an additional 46 shares in the last quarter. Finally, Huntington National Bank grew its position in shares of Manhattan Associates by 5.9% in the 3rd quarter. Huntington National Bank now owns 879 shares of the software maker’s stock valued at $247,000 after purchasing an additional 49 shares during the period. Institutional investors and hedge funds 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.