Manhattan Associates (NASDAQ:MANH) Price Target Raised to $306.00

Manhattan Associates (NASDAQ:MANH) had its target price boosted by Citigroup from $287.00 to $306.00 in a report published on Monday morning,Benzinga reports. They currently have a neutral rating on the software maker’s stock.

Several other research firms have also recently weighed in on MANH. DA Davidson raised their price objective on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Robert W. Baird raised their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Piper Sandler assumed coverage on Manhattan Associates in a report on Monday, November 25th. They set an “overweight” rating and a $326.00 price objective on the stock. Loop Capital lifted their target price on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Finally, Raymond James boosted their target price on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $292.89.

Manhattan Associates Trading Down 4.6 %

NASDAQ:MANH opened at $281.63 on Monday. The stock has a market capitalization of $17.20 billion, a P/E ratio of 80.01 and a beta of 1.50. Manhattan Associates has a 1 year low of $199.23 and a 1 year high of $312.60. The firm has a 50 day moving average of $286.62 and a 200-day moving average of $263.79.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.29. The firm had revenue of $266.70 million during the quarter, compared to the consensus estimate of $262.90 million. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.79 EPS. As a group, analysts forecast that Manhattan Associates will post 3.39 EPS for the current fiscal year.

Insider Activity at Manhattan Associates

In other news, SVP Bruce Richards sold 4,150 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $289.73, for a total value of $1,202,379.50. Following the completion of the sale, the senior vice president now directly owns 22,086 shares of the company’s stock, valued at $6,398,976.78. This represents a 15.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the transaction, the executive vice president now directly owns 42,812 shares in the company, valued at $12,334,137.20. The trade was a 7.51 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Institutional Trading of Manhattan Associates

A number of large investors have recently made changes to their positions in MANH. Innealta Capital LLC bought a new stake in shares of Manhattan Associates in the second quarter worth about $26,000. International Assets Investment Management LLC bought a new stake in shares of Manhattan Associates during the second quarter worth $27,000. DT Investment Partners LLC bought a new stake in shares of Manhattan Associates during the second quarter worth $31,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Manhattan Associates during the second quarter worth $31,000. Finally, Capital Performance Advisors LLP bought a new stake in Manhattan Associates in the 3rd quarter valued at $34,000. Institutional investors own 98.45% of the company’s stock.

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.