Manhattan Associates (NASDAQ:MANH) Price Target Cut to $220.00

Manhattan Associates (NASDAQ:MANH) had its price objective decreased by investment analysts at Citigroup from $260.00 to $220.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the software maker’s stock. Citigroup’s price objective suggests a potential upside of 5.62% from the stock’s previous close.

A number of other brokerages also recently weighed in on MANH. Raymond James lifted their target price on Manhattan Associates from $214.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Rosenblatt Securities reiterated a “neutral” rating and issued a $225.00 target price on shares of Manhattan Associates in a report on Wednesday. Finally, Truist Financial lifted their target price on Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $234.86.

Manhattan Associates Price Performance

Shares of MANH opened at $208.30 on Wednesday. Manhattan Associates has a 1 year low of $163.43 and a 1 year high of $266.94. The company has a market capitalization of $12.83 billion, a price-to-earnings ratio of 68.07 and a beta of 1.44. The business has a 50-day moving average of $245.12 and a 200-day moving average of $226.92.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.23. The business had revenue of $238.26 million during the quarter, compared to the consensus estimate of $223.99 million. Manhattan Associates had a return on equity of 87.22% and a net margin of 19.91%. As a group, sell-side analysts anticipate that Manhattan Associates will post 2.78 EPS for the current year.

Insider Buying and Selling at Manhattan Associates

In related news, EVP James Stewart Gantt sold 680 shares of Manhattan Associates stock in a transaction that occurred on 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 owns 57,093 shares of the company’s stock, valued at $14,207,022.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Eddie Capel sold 10,897 shares of Manhattan Associates stock in a transaction that occurred 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 transaction, 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 can be accessed through this link. Also, EVP James Stewart Gantt sold 680 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total value of $169,211.20. Following the transaction, the executive vice president now directly owns 57,093 shares in the company, valued at approximately $14,207,022.12. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MANH. Blue Trust Inc. boosted its position in Manhattan Associates by 259.4% in the fourth quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock worth $25,000 after purchasing an additional 83 shares during the last quarter. Bear Mountain Capital Inc. purchased a new position in Manhattan Associates in the fourth quarter worth $26,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Manhattan Associates in the fourth quarter worth $26,000. Contravisory Investment Management Inc. purchased a new position in Manhattan Associates in the first quarter worth $31,000. Finally, Quarry LP purchased a new position in Manhattan Associates in the fourth quarter worth $38,000. 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.