Manhattan Associates (NASDAQ:MANH) Earns Neutral Rating from Rosenblatt Securities

Manhattan Associates (NASDAQ:MANH)‘s stock had its “neutral” rating reissued by stock analysts at Rosenblatt Securities in a report issued on Monday, Benzinga reports. They presently have a $225.00 target price on the software maker’s stock. Rosenblatt Securities’ price objective would suggest a potential downside of 5.39% from the company’s previous close.

MANH has been the subject of several other reports. 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 report on Wednesday, January 31st. Truist Financial lifted their price target on shares of Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Finally, Citigroup began coverage on shares of Manhattan Associates in a report on Wednesday, March 13th. They set a “neutral” rating and a $260.00 price target for the company. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $231.29.

Manhattan Associates Price Performance

NASDAQ MANH opened at $237.81 on Monday. The firm has a market capitalization of $14.64 billion, a price-to-earnings ratio of 84.33 and a beta of 1.44. The company’s fifty day moving average is $248.48 and its two-hundred day moving average is $225.58. Manhattan Associates has a 52-week low of $152.32 and a 52-week high of $266.94.

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 analysts’ consensus estimates of $0.55 by $0.23. The company had revenue of $238.26 million during the quarter, compared to the consensus estimate of $223.99 million. Manhattan Associates had a net margin of 19.01% and a return on equity of 84.08%. As a group, sell-side analysts expect that Manhattan Associates will post 2.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Manhattan Associates

In other news, CEO Eddie Capel sold 10,897 shares of Manhattan Associates stock in a transaction that occurred on 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 sale, the chief executive officer now owns 242,153 shares in the company, valued at approximately $59,988,562.69. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Eddie Capel sold 10,897 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total value of $2,699,513.81. Following the sale, the chief executive officer now owns 242,153 shares of the company’s stock, valued at $59,988,562.69. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP James Stewart Gantt sold 680 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 57,093 shares in the company, valued at $14,207,022.12. The disclosure for this sale can be found here. Corporate insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Manhattan Associates

Several institutional investors and hedge funds have recently modified their holdings of MANH. Blue Trust Inc. grew its stake in shares of Manhattan Associates by 259.4% in the fourth quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock valued at $25,000 after acquiring an additional 83 shares in the last quarter. Bear Mountain Capital Inc. bought a new stake in Manhattan Associates during the fourth quarter worth about $26,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Manhattan Associates during the fourth quarter worth about $26,000. Contravisory Investment Management Inc. bought a new stake in Manhattan Associates during the first quarter worth about $31,000. Finally, Rise Advisors LLC bought a new stake in Manhattan Associates during the first quarter worth about $40,000. 98.45% of the stock is currently 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.