Manhattan Associates (NASDAQ:MANH) Earns Neutral Rating from Rosenblatt Securities

Manhattan Associates (NASDAQ:MANH)‘s stock had its “neutral” rating reaffirmed by Rosenblatt Securities in a note issued to investors on Monday, Benzinga reports. They currently have a $225.00 price objective on the software maker’s stock. Rosenblatt Securities’ target price would suggest a potential downside of 2.66% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Citigroup began coverage on Manhattan Associates in a report on Wednesday, March 13th. They set a “neutral” rating and a $260.00 target price on the stock. Truist Financial increased their target price on Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Finally, Raymond James increased their target price on Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Manhattan Associates currently has an average rating of “Moderate Buy” and an average price target of $231.29.

Manhattan Associates Price Performance

NASDAQ MANH opened at $231.16 on Monday. Manhattan Associates has a 1-year low of $152.32 and a 1-year high of $266.94. The company has a market capitalization of $14.23 billion, a P/E ratio of 81.97 and a beta of 1.44. The business has a 50 day moving average price of $247.78 and a 200 day moving average price of $226.05.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.23. Manhattan Associates had a return on equity of 84.08% and a net margin of 19.01%. The firm had revenue of $238.26 million during the quarter, compared to the consensus estimate of $223.99 million. On average, research analysts expect that Manhattan Associates will post 2.78 earnings per share for the current fiscal year.

Insider Transactions at Manhattan Associates

In other news, CEO Eddie Capel sold 10,897 shares of the firm’s stock in a transaction on 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 in the company, valued at $59,988,562.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Eddie Capel sold 10,897 shares of the firm’s stock in a transaction on 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 in the company, valued at $59,988,562.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James Stewart Gantt sold 680 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total value of $169,211.20. Following the sale, the executive vice president now owns 57,093 shares in the company, valued at approximately $14,207,022.12. The disclosure for this sale can be found here. Insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in Manhattan Associates by 13.5% in the first quarter. BlackRock Inc. now owns 7,461,771 shares of the software maker’s stock valued at $1,155,455,000 after acquiring an additional 888,755 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Manhattan Associates by 3.6% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,738,298 shares of the software maker’s stock valued at $424,025,000 after acquiring an additional 95,122 shares during the last quarter. State Street Corp boosted its holdings in Manhattan Associates by 2.1% in the first quarter. State Street Corp now owns 1,739,702 shares of the software maker’s stock valued at $269,393,000 after acquiring an additional 35,505 shares during the last quarter. FMR LLC boosted its holdings in Manhattan Associates by 2.1% in the third quarter. FMR LLC now owns 1,628,850 shares of the software maker’s stock valued at $321,958,000 after acquiring an additional 33,549 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in Manhattan Associates by 0.9% in the third quarter. Morgan Stanley now owns 1,522,444 shares of the software maker’s stock valued at $300,927,000 after acquiring an additional 13,303 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

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.