Manhattan Associates (NASDAQ:MANH) Earns Neutral Rating from Rosenblatt Securities

Manhattan Associates (NASDAQ:MANH)‘s stock had its “neutral” rating reissued by equities researchers at Rosenblatt Securities in a note issued to investors on Wednesday, Benzinga reports. They currently have a $225.00 price target on the software maker’s stock. Rosenblatt Securities’ price objective would suggest a potential downside of 2.44% from the company’s current price.

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

Manhattan Associates Price Performance

Shares of MANH opened at $230.63 on Wednesday. The company has a market capitalization of $14.20 billion, a P/E ratio of 81.78 and a beta of 1.44. Manhattan Associates has a one year low of $152.32 and a one year high of $266.94. The business’s 50 day simple moving average is $245.97 and its 200-day simple moving average is $227.06.

Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, topping 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 84.08% and a net margin of 19.01%. On average, sell-side analysts anticipate that Manhattan Associates will post 2.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other Manhattan Associates news, EVP James Stewart Gantt sold 680 shares of the stock in a transaction dated 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 approximately $14,207,022.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Manhattan Associates news, CEO Eddie Capel sold 10,897 shares of the stock in a transaction dated 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 directly owns 242,153 shares of the company’s stock, valued at approximately $59,988,562.69. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP James Stewart Gantt sold 680 shares of the stock in a transaction dated Tuesday, February 6th. The shares were 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 directly owns 57,093 shares in the company, valued at $14,207,022.12. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Blue Trust Inc. raised its holdings 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 acquiring an additional 83 shares during the period. Bear Mountain Capital Inc. bought a new position in shares of Manhattan Associates during the fourth quarter worth approximately $26,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Manhattan Associates during the fourth quarter worth approximately $26,000. Contravisory Investment Management Inc. bought a new position in shares of Manhattan Associates during the first quarter worth approximately $31,000. Finally, Rise Advisors LLC bought a new position in shares of Manhattan Associates during the first quarter worth approximately $40,000. 98.45% of the stock is owned by institutional investors.

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.