Manhattan Associates (NASDAQ:MANH) Receives “Market Perform” Rating from William Blair

William Blair restated their market perform rating on shares of Manhattan Associates (NASDAQ:MANH) in a report published on Wednesday, Zacks.com reports.

Several other research analysts have also recently weighed in on the stock. Citigroup reduced their price target on shares of Manhattan Associates from $260.00 to $220.00 and set a neutral rating for the company in a report on Wednesday. DA Davidson upgraded shares of Manhattan Associates from a neutral rating to a buy rating and upped their price target for the company from $220.00 to $240.00 in a report on Thursday. Raymond James upped 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 upped 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, Rosenblatt Securities reissued a neutral rating and issued a $225.00 price objective on shares of Manhattan Associates in a research report on Wednesday. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $234.86.

Manhattan Associates Price Performance

MANH opened at $209.02 on Wednesday. The company has a market cap of $12.87 billion, a price-to-earnings ratio of 68.31 and a beta of 1.44. The firm has a 50 day simple moving average of $243.64 and a 200 day simple moving average of $226.91. Manhattan Associates has a fifty-two week low of $164.55 and a fifty-two week high of $266.94.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.23. The firm had revenue of $238.26 million during the quarter, compared to analysts’ expectations of $223.99 million. Manhattan Associates had a net margin of 19.91% and a return on equity of 85.28%. As a group, analysts expect that Manhattan Associates will post 2.81 EPS for the current year.

Insider Transactions at Manhattan Associates

In other news, CEO Eddie Capel sold 10,897 shares of the firm’s stock in a transaction dated 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP James Stewart Gantt sold 680 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were 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 $14,207,022.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Eddie Capel sold 10,897 shares of the firm’s stock in a transaction dated 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 directly owns 242,153 shares in the company, valued at $59,988,562.69. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Manhattan Associates

Several hedge funds have recently bought and sold shares of the company. Lindbrook Capital LLC increased its holdings in Manhattan Associates by 28.8% in the 4th quarter. Lindbrook Capital LLC now owns 206 shares of the software maker’s stock valued at $44,000 after buying an additional 46 shares during the period. Accurate Wealth Management LLC grew its holdings in shares of Manhattan Associates by 4.1% during the 1st quarter. Accurate Wealth Management LLC now owns 1,371 shares of the software maker’s stock valued at $343,000 after purchasing an additional 54 shares during the last quarter. Capital Insight Partners LLC grew its holdings in shares of Manhattan Associates by 0.4% during the 3rd quarter. Capital Insight Partners LLC now owns 15,161 shares of the software maker’s stock valued at $2,997,000 after purchasing an additional 57 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Manhattan Associates by 4.7% during the 3rd quarter. Signaturefd LLC now owns 1,274 shares of the software maker’s stock valued at $252,000 after purchasing an additional 57 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Manhattan Associates by 25.9% during the 4th quarter. UMB Bank n.a. now owns 282 shares of the software maker’s stock valued at $61,000 after purchasing an additional 58 shares during the last quarter. 98.45% of the stock is owned by institutional investors.

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.