Manhattan Associates (NASDAQ:MANH) Price Target Raised to $287.00

Manhattan Associates (NASDAQ:MANH) had its price target raised by Citigroup from $257.00 to $287.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a neutral rating on the software maker’s stock.

Other research analysts also recently issued research reports about the company. DA Davidson increased their price objective on Manhattan Associates from $260.00 to $285.00 and gave the company a buy rating in a report on Wednesday, July 24th. StockNews.com downgraded shares of Manhattan Associates from a buy rating to a hold rating in a research report on Thursday, August 1st. Finally, Loop Capital increased their target price on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a buy rating in a research report on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $264.57.

Manhattan Associates Stock Performance

Shares of Manhattan Associates stock opened at $280.25 on Wednesday. The business has a 50-day simple moving average of $258.44 and a 200-day simple moving average of $241.43. The company has a market cap of $17.25 billion, a PE ratio of 91.58 and a beta of 1.50. Manhattan Associates has a one year low of $182.97 and a one year high of $287.63.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, July 23rd. The software maker reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.22. The company had revenue of $265.30 million for the quarter, compared to the consensus estimate of $255.83 million. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 EPS. On average, sell-side analysts predict that Manhattan Associates will post 3.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the completion of the sale, the executive vice president now directly owns 46,287 shares of the company’s stock, valued at approximately $11,872,615.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Paragon Capital Management Inc. lifted its holdings in Manhattan Associates by 1.6% in the second quarter. Paragon Capital Management Inc. now owns 6,673 shares of the software maker’s stock valued at $1,646,000 after acquiring an additional 103 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Manhattan Associates in the 2nd quarter worth approximately $1,395,000. Cetera Investment Advisers increased its stake in Manhattan Associates by 9.0% in the 2nd quarter. Cetera Investment Advisers now owns 4,240 shares of the software maker’s stock valued at $1,046,000 after purchasing an additional 349 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Manhattan Associates in the 2nd quarter valued at approximately $19,606,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Manhattan Associates by 12.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,559 shares of the software maker’s stock worth $631,000 after purchasing an additional 274 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other 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.