William Blair Reiterates “Market Perform” Rating for Manhattan Associates (NASDAQ:MANH)

William Blair reiterated their market perform rating on shares of Manhattan Associates (NASDAQ:MANH) in a report published on Wednesday, Zacks.com reports.

Several other equities analysts also recently commented on the stock. Citigroup decreased their price target on shares of Manhattan Associates from $260.00 to $220.00 and set a neutral rating on the stock in a research note on Wednesday. DA Davidson upgraded shares of Manhattan Associates from a neutral rating to a buy rating and increased their price objective for the stock from $220.00 to $240.00 in a research note on Thursday. Truist Financial increased 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. Raymond James increased their price objective on shares of Manhattan Associates from $214.00 to $250.00 and gave the stock an outperform rating in a research note on Wednesday, January 31st. Finally, Rosenblatt Securities reiterated a neutral rating and set a $225.00 price objective on shares of Manhattan Associates in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $234.86.

Manhattan Associates Stock Performance

MANH stock opened at $209.02 on Wednesday. The company’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 PE ratio of 68.31 and a beta of 1.44.

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

Insider Transactions at Manhattan Associates

In other news, 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 value of $169,211.20. Following the completion of the transaction, the executive vice president now owns 57,093 shares of the company’s stock, valued at $14,207,022.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, 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 value of $169,211.20. Following the completion of the transaction, the executive vice president now owns 57,093 shares of the company’s stock, valued at $14,207,022.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eddie Capel sold 10,897 shares of the 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 directly 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. Company insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MANH. CWM LLC lifted its holdings in shares of Manhattan Associates by 22.0% in the third quarter. CWM LLC now owns 997 shares of the software maker’s stock worth $197,000 after acquiring an additional 180 shares during the last quarter. AE Wealth Management LLC raised its holdings in Manhattan Associates by 119.8% in the 3rd 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 last quarter. SG Americas Securities LLC raised its holdings in Manhattan Associates by 61.5% in the 3rd quarter. SG Americas Securities LLC now owns 9,287 shares of the software maker’s stock valued at $1,836,000 after buying an additional 3,537 shares during the last quarter. DAVENPORT & Co LLC raised its holdings in Manhattan Associates by 1.2% in the 3rd quarter. DAVENPORT & Co LLC now owns 5,220 shares of the software maker’s stock valued at $1,032,000 after buying an additional 60 shares during the last quarter. Finally, UMB Bank n.a. raised its holdings in Manhattan Associates by 474.4% in the 3rd quarter. UMB Bank n.a. now owns 224 shares of the software maker’s stock valued at $44,000 after buying an additional 185 shares during 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.