Rosenblatt Securities Reaffirms “Neutral” Rating for Manhattan Associates (NASDAQ:MANH)

Rosenblatt Securities reissued their neutral rating on shares of Manhattan Associates (NASDAQ:MANH) in a report released on Monday morning, Benzinga reports. They currently have a $225.00 price objective on the software maker’s stock.

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

Manhattan Associates Trading Down 1.2 %

Shares of MANH opened at $228.43 on Monday. Manhattan Associates has a 1-year low of $152.32 and a 1-year high of $266.94. The firm has a market capitalization of $14.06 billion, a price-to-earnings ratio of 81.00 and a beta of 1.44. The firm’s 50-day moving average price is $247.43 and its 200-day moving average price is $226.06.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $223.99 million. On average, research analysts forecast that Manhattan Associates will post 2.78 EPS for the current fiscal year.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 680 shares of Manhattan Associates 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 completion of the transaction, the executive vice president now directly owns 57,093 shares of the company’s stock, valued at $14,207,022.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Eddie Capel sold 10,897 shares of the 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 directly owns 242,153 shares of the company’s stock, valued at $59,988,562.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP James Stewart Gantt sold 680 shares of Manhattan Associates stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total value of $169,211.20. Following the completion of the sale, the executive vice president now owns 57,093 shares of the company’s stock, valued at $14,207,022.12. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by insiders.

Institutional Trading of Manhattan Associates

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its position in Manhattan Associates by 13.5% during the first quarter. BlackRock Inc. now owns 7,461,771 shares of the software maker’s stock valued at $1,155,455,000 after purchasing an additional 888,755 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Manhattan Associates by 3.6% during the 1st 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 buying an additional 95,122 shares during the period. State Street Corp boosted its stake in shares of Manhattan Associates by 2.1% in the 1st quarter. State Street Corp now owns 1,739,702 shares of the software maker’s stock worth $269,393,000 after buying an additional 35,505 shares during the last quarter. FMR LLC boosted its stake in shares of Manhattan Associates by 2.1% in the 3rd quarter. FMR LLC now owns 1,628,850 shares of the software maker’s stock worth $321,958,000 after buying an additional 33,549 shares during the last quarter. Finally, Morgan Stanley grew its holdings in shares of Manhattan Associates by 0.9% in the third quarter. Morgan Stanley now owns 1,522,444 shares of the software maker’s stock worth $300,927,000 after acquiring an additional 13,303 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

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.