Citigroup Cuts Manhattan Associates (NASDAQ:MANH) Price Target to $220.00

Manhattan Associates (NASDAQ:MANH) had its price objective lowered by Citigroup from $260.00 to $220.00 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the software maker’s stock.

Several other research firms also recently commented on MANH. Raymond James raised their price target on shares of Manhattan Associates from $214.00 to $250.00 and gave the stock an outperform rating in a research note on Wednesday, January 31st. Rosenblatt Securities reiterated a neutral rating and set a $225.00 target price on shares of Manhattan Associates in a report on Wednesday. Finally, Truist Financial increased their target price 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. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $234.86.

Manhattan Associates Price Performance

MANH stock opened at $209.02 on Wednesday. The company has a market capitalization of $12.87 billion, a PE ratio of 68.31 and a beta of 1.44. Manhattan Associates has a 12 month low of $164.55 and a 12 month high of $266.94. The firm’s 50-day moving average is $243.64 and its 200 day moving average is $226.91.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.55 by $0.23. The company had revenue of $238.26 million for 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%. Sell-side analysts forecast that Manhattan Associates will post 2.81 EPS for the current fiscal year.

Insider Activity

In other 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 value of $169,211.20. Following the sale, the executive vice president now directly 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 can be accessed through this link. In other 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 value of $169,211.20. Following the sale, the executive vice president now directly 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 can be accessed through this link. Also, 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 $59,988,562.69. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Institutional Trading of Manhattan Associates

Institutional investors have recently modified their holdings of the company. Blue Trust Inc. boosted its holdings in shares of Manhattan Associates by 259.4% in the 4th quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock valued at $25,000 after buying an additional 83 shares in the last quarter. Bear Mountain Capital Inc. purchased a new position in shares of Manhattan Associates in the 4th quarter valued at approximately $26,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Manhattan Associates in the 4th quarter valued at approximately $26,000. Contravisory Investment Management Inc. purchased a new position in shares of Manhattan Associates in the 1st quarter valued at approximately $31,000. Finally, Rise Advisors LLC purchased a new position in shares of Manhattan Associates in the 1st quarter valued at approximately $40,000. 98.45% of the stock is currently 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.