Manhattan Associates (NASDAQ:MANH) Price Target Raised to $230.00

Manhattan Associates (NASDAQ:MANH) had its price target lifted by DA Davidson from $210.00 to $230.00 in a research report report published on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the software maker’s stock.

MANH has been the subject of a number of other research reports. Truist Financial reissued a “buy” rating and set a $305.00 target price (up from $240.00) on shares of Manhattan Associates in a report on Wednesday. Robert W. Baird increased their price objective on Manhattan Associates from $218.00 to $260.00 and gave the company an “outperform” rating in a research note on Wednesday, August 26th. Barclays raised their price objective on Manhattan Associates from $201.00 to $239.00 and gave the company an “overweight” rating in a report on Tuesday, September 8th. Stifel Nicolaus increased their target price on shares of Manhattan Associates from $250.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, UBS Group set a $305.00 price target on shares of Manhattan Associates in a research note on Wednesday. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $257.11.

Manhattan Associates Stock Performance

Manhattan Associates stock opened at $248.39 on Wednesday. The stock has a market cap of $14.48 billion, a PE ratio of 69.58 and a beta of 0.95. The stock has a 50-day moving average of $216.59 and a two-hundred day moving average of $166.68. Manhattan Associates has a one year low of $119.06 and a one year high of $254.00.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, October 27th. The software maker reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.09. Manhattan Associates had a return on equity of 98.67% and a net margin of 18.41%. The business had revenue of $306.19 million for the quarter, compared to analyst estimates of $297.01 million. During the same quarter in the previous year, the firm earned $1.36 earnings per share. The company’s revenue was up 11.0% on a year-over-year basis. As a group, sell-side analysts predict that Manhattan Associates will post 3.81 EPS for the current fiscal year.

Insider Activity

In related news, CEO Eric Clark sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total transaction of $593,280.00. Following the completion of the sale, the chief executive officer directly owned 89,638 shares in the company, valued at approximately $17,726,810.88. This trade represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.84% of the company’s stock.

Institutional Trading of Manhattan Associates

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Manhattan Associates in the second quarter worth $944,285,000. William Blair Investment Management LLC acquired a new position in Manhattan Associates during the 2nd quarter worth $94,049,000. Bank of America Corp DE purchased a new stake in Manhattan Associates during the 2nd quarter worth about $75,136,000. Bank of New York Mellon Corp purchased a new stake in Manhattan Associates during the 2nd quarter worth about $54,011,000. Finally, Amundi raised its position in Manhattan Associates by 479.4% in the 1st quarter. Amundi now owns 454,095 shares of the software maker’s stock valued at $60,449,000 after purchasing an additional 375,719 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

About Manhattan Associates

Manhattan Associates, Inc develops supply chain commerce software for retailers, wholesalers, manufacturers and logistics providers. Its solutions help organizations plan, execute and optimize inventory, warehouse, transportation and omnichannel fulfillment operations.

The company’s product portfolio includes warehouse management, transportation management, order management, inventory optimization, labor management and point-of-sale capabilities. Manhattan Associates also provides tools that support warehouse automation, store fulfillment, distributed order management and customer engagement across digital and physical retail channels.

Founded in 1990 and headquartered in Atlanta, Georgia, Manhattan Associates serves customers across North America, Europe, Asia-Pacific and other international markets.