Manhattan Associates (NASDAQ:MANH) Releases Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Manhattan Associates (NASDAQ:MANH) released its quarterly earnings results on Tuesday. The software maker reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.10, FiscalAI reports. Manhattan Associates had a net margin of 20.25% and a return on equity of 78.80%. The business had revenue of $270.39 million for the quarter, compared to the consensus estimate of $264.69 million.

Manhattan Associates Stock Down 4.3%

NASDAQ MANH traded down $7.54 during midday trading on Tuesday, hitting $169.73. The company had a trading volume of 1,180,272 shares, compared to its average volume of 657,367. The firm has a fifty day simple moving average of $173.90 and a two-hundred day simple moving average of $193.62. Manhattan Associates has a fifty-two week low of $140.81 and a fifty-two week high of $299.27. The stock has a market cap of $10.23 billion, a price-to-earnings ratio of 48.36 and a beta of 1.02.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MANH shares. Stifel Nicolaus cut their target price on Manhattan Associates from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Friday. Morgan Stanley lowered their price objective on Manhattan Associates from $200.00 to $165.00 and set an “equal weight” rating on the stock in a report on Monday, January 5th. Citigroup upgraded Manhattan Associates from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $200.00 to $208.00 in a report on Thursday, January 15th. Barclays decreased their target price on Manhattan Associates from $239.00 to $237.00 and set an “overweight” rating for the company in a research report on Monday, January 12th. Finally, DA Davidson set a $250.00 price target on shares of Manhattan Associates in a research report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $219.58.

Institutional Investors Weigh In On Manhattan Associates

Institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its position in shares of Manhattan Associates by 7.7% in the 3rd quarter. AQR Capital Management LLC now owns 2,077,132 shares of the software maker’s stock worth $425,771,000 after acquiring an additional 149,079 shares during the period. Invesco Ltd. increased its position in shares of Manhattan Associates by 4.1% during the third quarter. Invesco Ltd. now owns 893,264 shares of the software maker’s stock valued at $183,101,000 after purchasing an additional 35,172 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in shares of Manhattan Associates by 0.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 860,869 shares of the software maker’s stock valued at $176,461,000 after purchasing an additional 5,961 shares in the last quarter. Lazard Asset Management LLC lifted its position in Manhattan Associates by 76.4% in the third quarter. Lazard Asset Management LLC now owns 707,742 shares of the software maker’s stock worth $145,073,000 after purchasing an additional 306,516 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in Manhattan Associates by 9.1% during the first quarter. Goldman Sachs Group Inc. now owns 500,068 shares of the software maker’s stock worth $86,532,000 after buying an additional 41,571 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

About Manhattan Associates

Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.