William Blair Weighs in on Manhattan Associates, Inc.’s Q2 2024 Earnings (NASDAQ:MANH)

Manhattan Associates, Inc. (NASDAQ:MANH) – Investment analysts at William Blair issued their Q2 2024 earnings per share estimates for Manhattan Associates in a report released on Wednesday, April 24th. William Blair analyst D. Becker anticipates that the software maker will earn $0.64 per share for the quarter. William Blair has a “Market Perform” rating on the stock. The consensus estimate for Manhattan Associates’ current full-year earnings is $2.72 per share. William Blair also issued estimates for Manhattan Associates’ Q3 2024 earnings at $0.66 EPS, Q4 2024 earnings at $0.61 EPS, FY2024 earnings at $2.65 EPS, Q1 2025 earnings at $0.75 EPS, Q2 2025 earnings at $0.78 EPS, Q3 2025 earnings at $0.87 EPS, Q4 2025 earnings at $0.76 EPS and FY2025 earnings at $3.16 EPS.

Other equities research analysts also recently issued research reports about the stock. Truist Financial upped their price objective on shares of Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Citigroup lowered their target price on shares of Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. DA Davidson raised shares of Manhattan Associates from a “neutral” rating to a “buy” rating and lifted their price target for the company from $220.00 to $240.00 in a research report on Thursday, April 25th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $225.00 target price on shares of Manhattan Associates in a report on Wednesday, April 24th. Finally, Raymond James lifted their target price on Manhattan Associates from $214.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Manhattan Associates has an average rating of “Moderate Buy” and an average target price of $234.86.

Manhattan Associates Price Performance

MANH opened at $209.83 on Monday. Manhattan Associates has a 12-month low of $165.37 and a 12-month high of $266.94. The stock has a market capitalization of $12.92 billion, a PE ratio of 68.57 and a beta of 1.44. The firm’s fifty day moving average price is $242.96 and its 200 day moving average price is $227.07.

Manhattan Associates (NASDAQ:MANH) last released its quarterly 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 net margin of 19.91% and a return on equity of 85.28%.

Insider Activity

In other news, EVP James Stewart Gantt sold 680 shares of Manhattan Associates stock in a transaction 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 completion of the sale, the executive vice president now owns 57,093 shares in the company, valued at approximately $14,207,022.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, 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 transaction of $2,699,513.81. Following the sale, the chief executive officer now owns 242,153 shares of the company’s stock, valued at approximately $59,988,562.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James Stewart Gantt sold 680 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total value 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. 0.72% of the stock is currently owned by insiders.

Institutional Trading of Manhattan Associates

Several hedge funds have recently added to or reduced their stakes in MANH. Principal Financial Group Inc. boosted its holdings in Manhattan Associates by 2.0% in the first quarter. Principal Financial Group Inc. now owns 512,603 shares of the software maker’s stock valued at $128,269,000 after acquiring an additional 10,053 shares in the last quarter. Benjamin Edwards Inc. bought a new position in Manhattan Associates during the 1st quarter valued at about $27,000. Crew Capital Management Ltd. purchased a new stake in Manhattan Associates during the 1st quarter valued at $725,000. Benjamin F. Edwards & Company Inc. boosted its position in Manhattan Associates by 435.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 182 shares of the software maker’s stock worth $46,000 after purchasing an additional 148 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. purchased a new position in shares of Manhattan Associates during the 1st quarter worth $6,231,000. 98.45% of the stock is owned by institutional investors.

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.