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

Manhattan Associates (NASDAQ:MANH) had its price target cut by analysts at Citigroup from $260.00 to $220.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the software maker’s stock. Citigroup’s price objective indicates a potential upside of 6.28% from the company’s current price.

Several other research firms have also recently weighed in on MANH. Raymond James lifted their price objective on shares of Manhattan Associates from $214.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Rosenblatt Securities restated a “neutral” rating and set a $225.00 price objective on shares of Manhattan Associates in a report on Wednesday. Finally, Truist Financial upped their price objective on shares of Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $225.57.

Manhattan Associates Stock Down 10.2 %

Shares of MANH traded down $23.63 on Wednesday, reaching $207.00. The stock had a trading volume of 1,017,137 shares, compared to its average volume of 377,820. The firm has a 50-day moving average of $245.97 and a 200 day moving average of $227.06. The firm has a market capitalization of $12.74 billion, a PE ratio of 73.59 and a beta of 1.44. Manhattan Associates has a twelve month low of $152.32 and a twelve month high of $266.94.

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

Insider Buying and Selling

In other Manhattan Associates news, CEO Eddie Capel sold 10,897 shares of Manhattan Associates stock in a transaction that occurred on 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 directly owns 242,153 shares in the company, valued at $59,988,562.69. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP James Stewart Gantt sold 680 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Eddie Capel sold 10,897 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 242,153 shares in the company, valued at approximately $59,988,562.69. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Manhattan Associates

Hedge funds have recently bought and sold shares of the business. CWM LLC boosted its stake in Manhattan Associates by 22.0% in the 3rd quarter. CWM LLC now owns 997 shares of the software maker’s stock worth $197,000 after purchasing an additional 180 shares during the period. AE Wealth Management LLC increased its stake in shares of Manhattan Associates by 119.8% during the third quarter. AE Wealth Management LLC now owns 3,271 shares of the software maker’s stock valued at $647,000 after buying an additional 1,783 shares during the period. IFP Advisors Inc increased its stake in shares of Manhattan Associates by 6.4% during the third quarter. IFP Advisors Inc now owns 1,250 shares of the software maker’s stock valued at $247,000 after buying an additional 75 shares during the period. Ritholtz Wealth Management bought a new stake in Manhattan Associates during the third quarter valued at about $245,000. Finally, Global Retirement Partners LLC boosted its position in Manhattan Associates by 59.2% during the third quarter. Global Retirement Partners LLC now owns 581 shares of the software maker’s stock valued at $116,000 after purchasing an additional 216 shares in the last quarter. 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.