Manhattan Associates (NASDAQ:MANH) Shares Gap Down Following Analyst Downgrade

Shares of Manhattan Associates, Inc. (NASDAQ:MANH) gapped down prior to trading on Wednesday after Citigroup lowered their price target on the stock from $260.00 to $220.00. The stock had previously closed at $230.63, but opened at $208.49. Citigroup currently has a neutral rating on the stock. Manhattan Associates shares last traded at $210.46, with a volume of 216,900 shares changing hands.

Several other equities research analysts have also issued reports on MANH. Rosenblatt Securities reaffirmed a “neutral” rating and set a $225.00 target price on shares of Manhattan Associates in a research report on Wednesday. Raymond James raised their price objective on shares of Manhattan Associates from $214.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Finally, Truist Financial boosted their target price on shares of Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $234.86.

Insider Buying and Selling at Manhattan Associates

In other news, 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 completion of the transaction, the chief executive officer now owns 242,153 shares in the company, valued at $59,988,562.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP James Stewart Gantt sold 680 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 57,093 shares in the company, valued at approximately $14,207,022.12. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Eddie Capel sold 10,897 shares of the stock in a transaction dated Tuesday, February 6th. The stock was 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 directly owns 242,153 shares in the company, valued at approximately $59,988,562.69. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its position 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 during the period. Bear Mountain Capital Inc. purchased a new stake in Manhattan Associates in the 4th quarter worth approximately $26,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Manhattan Associates in the 4th quarter worth approximately $26,000. Contravisory Investment Management Inc. bought a new position in Manhattan Associates in the 1st quarter valued at $31,000. Finally, Quarry LP purchased a new position in shares of Manhattan Associates during the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Price Performance

The stock has a market cap of $12.83 billion, a P/E ratio of 68.07 and a beta of 1.44. The firm’s fifty day moving average price is $245.12 and its two-hundred day moving average price is $226.92.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.55 by $0.23. Manhattan Associates had a return on equity of 85.28% and a net margin of 19.91%. The business had revenue of $238.26 million during the quarter, compared to analysts’ expectations of $223.99 million. On average, research analysts expect that Manhattan Associates, Inc. will post 2.81 earnings per share for the current fiscal year.

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.