Manhattan Associates’ (MANH) “Neutral” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reissued their neutral rating on shares of Manhattan Associates (NASDAQ:MANH) in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $225.00 price target on the software maker’s stock.

MANH has been the topic of a number of other reports. Truist Financial boosted their target price on Manhattan Associates from $240.00 to $260.00 and gave the stock a buy rating in a research report on Wednesday, January 31st. Raymond James boosted their price objective on Manhattan Associates from $214.00 to $250.00 and gave the stock an outperform rating in a research note on Wednesday, January 31st. Finally, Citigroup started coverage on Manhattan Associates in a research note on Wednesday, March 13th. They set a neutral rating and a $260.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $234.86.

Manhattan Associates Stock Up 0.3 %

Shares of Manhattan Associates stock opened at $209.02 on Wednesday. The stock’s 50-day simple moving average is $244.34 and its 200-day simple moving average is $226.79. Manhattan Associates has a 52 week low of $164.55 and a 52 week high of $266.94. The company has a market capitalization of $12.87 billion, a price-to-earnings ratio of 68.31 and a beta of 1.44.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.55 by $0.23. The business had revenue of $238.26 million for the quarter, compared to the consensus estimate of $223.99 million. Manhattan Associates had a return on equity of 85.28% and a net margin of 19.91%. On average, equities analysts expect that Manhattan Associates will post 2.81 earnings per share for the current year.

Insider Activity

In related news, EVP James Stewart Gantt sold 680 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 57,093 shares in the company, valued at $14,207,022.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Manhattan Associates news, EVP James Stewart Gantt sold 680 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total transaction of $169,211.20. Following the completion of the sale, the executive vice president now owns 57,093 shares in the company, valued at $14,207,022.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Eddie Capel sold 10,897 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total value of $2,699,513.81. Following the sale, the chief executive officer now owns 242,153 shares of the company’s stock, valued at approximately $59,988,562.69. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Manhattan Associates

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its stake in 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 Manhattan Associates in the 4th quarter valued at about $26,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Manhattan Associates in the 4th quarter valued at about $26,000. Contravisory Investment Management Inc. purchased a new position in Manhattan Associates in the 1st quarter worth approximately $31,000. Finally, Quarry LP purchased a new position in Manhattan Associates in the 4th quarter worth approximately $38,000. 98.45% of the stock is owned by institutional investors and hedge funds.

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.