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

Rosenblatt Securities reissued their neutral rating on shares of Manhattan Associates (NASDAQ:MANH) in a research note released on Monday morning, Benzinga reports. The firm currently has a $225.00 target price on the software maker’s stock.

Several other brokerages have also commented on MANH. Raymond James boosted their price objective on Manhattan Associates from $214.00 to $250.00 and gave the stock an outperform rating in a report on Wednesday, January 31st. Truist Financial boosted 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. Finally, Citigroup assumed coverage on Manhattan Associates in a report on Wednesday, March 13th. They set a neutral rating and a $260.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Manhattan Associates currently has a consensus rating of Moderate Buy and an average price target of $231.29.

Manhattan Associates Stock Up 0.9 %

Shares of MANH opened at $230.44 on Monday. The business’s 50-day moving average price is $247.10 and its 200-day moving average price is $226.09. Manhattan Associates has a twelve month low of $152.32 and a twelve month high of $266.94. The stock has a market cap of $14.19 billion, a PE ratio of 81.72 and a beta of 1.44.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $223.99 million. Analysts expect that Manhattan Associates will post 2.78 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Eddie Capel sold 10,897 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now 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 SEC, which is accessible through the SEC website. In related news, EVP James Stewart Gantt sold 680 shares of the company’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 transaction of $169,211.20. Following the completion of the transaction, the executive vice president now owns 57,093 shares in the company, valued at $14,207,022.12. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Eddie Capel sold 10,897 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total value of $2,699,513.81. Following the transaction, 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 0.85% of the company’s stock.

Hedge Funds Weigh In On Manhattan Associates

Hedge funds and other institutional investors have recently made changes to their positions in the business. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Manhattan Associates by 59.9% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 21,612 shares of the software maker’s stock valued at $4,271,000 after acquiring an additional 8,094 shares in the last quarter. Highland Capital Management LLC bought a new position in shares of Manhattan Associates during the fourth quarter valued at approximately $1,142,000. Redhawk Wealth Advisors Inc. bought a new position in shares of Manhattan Associates during the fourth quarter valued at approximately $1,050,000. Meeder Asset Management Inc. bought a new position in Manhattan Associates in the fourth quarter worth $2,039,000. Finally, Zions Bancorporation N.A. raised its holdings in Manhattan Associates by 6.2% in the third quarter. Zions Bancorporation N.A. now owns 8,418 shares of the software maker’s stock worth $1,664,000 after purchasing an additional 489 shares in the last quarter. 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.