Manhattan Associates (MANH) Scheduled to Post Earnings on Tuesday

Manhattan Associates (NASDAQ:MANH) is scheduled to be posting its quarterly earnings results after the market closes on Tuesday, April 23rd. Analysts expect Manhattan Associates to post earnings of $0.87 per share for the quarter. Manhattan Associates has set its FY24 guidance at $3.69-3.79 EPS and its FY 2024 guidance at 3.690-3.790 EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.23. Manhattan Associates had a return on equity of 84.08% and a net margin of 19.01%. The company had revenue of $238.26 million during the quarter, compared to analyst estimates of $223.99 million. On average, analysts expect Manhattan Associates to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Manhattan Associates Stock Down 1.8 %

Shares of MANH stock opened at $226.34 on Friday. The stock has a fifty day moving average of $246.62 and a 200 day moving average of $226.50. The firm has a market capitalization of $13.94 billion, a price-to-earnings ratio of 80.26 and a beta of 1.44. Manhattan Associates has a 52 week low of $152.32 and a 52 week high of $266.94.

Insider Activity

In other news, CEO Eddie Capel sold 10,897 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the completion of the transaction, the chief executive officer now directly owns 242,153 shares in the company, valued at $59,988,562.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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. Also, CEO Eddie Capel sold 10,897 shares of Manhattan Associates stock in a transaction dated 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 transaction, the chief executive officer now directly owns 242,153 shares in the company, valued at $59,988,562.69. The disclosure for this sale can be found here. Corporate insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in Manhattan Associates by 13.5% in the 1st quarter. BlackRock Inc. now owns 7,461,771 shares of the software maker’s stock worth $1,155,455,000 after purchasing an additional 888,755 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Manhattan Associates by 3.6% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,738,298 shares of the software maker’s stock worth $424,025,000 after purchasing an additional 95,122 shares in the last quarter. State Street Corp lifted its holdings in Manhattan Associates by 2.1% in the 1st quarter. State Street Corp now owns 1,739,702 shares of the software maker’s stock worth $269,393,000 after purchasing an additional 35,505 shares in the last quarter. Morgan Stanley lifted its holdings in Manhattan Associates by 302.2% in the 4th quarter. Morgan Stanley now owns 1,361,946 shares of the software maker’s stock worth $165,340,000 after purchasing an additional 1,023,285 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Manhattan Associates by 37.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 819,305 shares of the software maker’s stock worth $93,892,000 after purchasing an additional 225,136 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MANH has been the subject of a number of research reports. Rosenblatt Securities reiterated a “neutral” rating and issued a $225.00 price objective on shares of Manhattan Associates in a report on Monday, April 15th. Raymond James increased their price objective on Manhattan Associates from $214.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Citigroup initiated coverage on Manhattan Associates in a report on Wednesday, March 13th. They issued a “neutral” rating and a $260.00 price objective for the company. Finally, Truist Financial increased their price objective on Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Manhattan Associates currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.29.

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.