Manhattan Associates (NASDAQ:MANH) Upgraded at StockNews.com

Manhattan Associates (NASDAQ:MANH) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

A number of other research analysts have also commented on the company. Loop Capital upped 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. Raymond James increased their price objective on shares of Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. DA Davidson lifted their target price on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Truist Financial raised their price target on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Finally, Piper Sandler began coverage on Manhattan Associates in a research note on Monday, November 25th. They issued an “overweight” rating and a $326.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Manhattan Associates has an average rating of “Moderate Buy” and an average target price of $292.89.

Manhattan Associates Stock Up 1.5 %

NASDAQ MANH traded up $4.00 during midday trading on Friday, hitting $272.84. The company had a trading volume of 280,431 shares, compared to its average volume of 286,915. The firm has a fifty day simple moving average of $282.61 and a two-hundred day simple moving average of $267.90. Manhattan Associates has a fifty-two week low of $199.23 and a fifty-two week high of $312.60. The stock has a market cap of $16.66 billion, a price-to-earnings ratio of 77.51 and a beta of 1.52.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.29. The business had revenue of $266.70 million for the quarter, compared to the consensus estimate of $262.90 million. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the business earned $0.79 earnings per share. As a group, equities analysts predict that Manhattan Associates will post 3.39 earnings per share for the current year.

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 3,475 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total value of $1,001,147.50. Following the completion of the sale, the executive vice president now owns 42,812 shares in the company, valued at approximately $12,334,137.20. This trade represents a 7.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Bruce Richards sold 4,150 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the transaction, the senior vice president now owns 22,086 shares in the company, valued at $6,398,976.78. The trade was a 15.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

Institutional Investors Weigh In On Manhattan Associates

Several hedge funds and other institutional investors have recently made changes to their positions in MANH. International Assets Investment Management LLC acquired a new stake in Manhattan Associates in the second quarter worth about $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Manhattan Associates during the 2nd quarter worth approximately $31,000. Capital Performance Advisors LLP bought a new stake in shares of Manhattan Associates during the third quarter worth approximately $34,000. Ashton Thomas Securities LLC acquired a new position in Manhattan Associates in the third quarter valued at approximately $42,000. Finally, Carolina Wealth Advisors LLC bought a new position in Manhattan Associates in the third quarter valued at approximately $50,000. 98.45% of the stock is owned by institutional investors and hedge funds.

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.