DA Davidson Downgrades Manhattan Associates (NASDAQ:MANH) to Neutral

Manhattan Associates (NASDAQ:MANH) was downgraded by DA Davidson from a “buy” rating to a “neutral” rating in a report issued on Monday, MarketBeat Ratings reports. They presently have a $210.00 target price on the software maker’s stock. DA Davidson’s price objective would indicate a potential upside of 2.80% from the company’s current price.

A number of other research firms also recently weighed in on MANH. Weiss Ratings upgraded Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 14th. Morgan Stanley set a $180.00 target price on Manhattan Associates in a research report on Wednesday, July 29th. UBS Group set a $210.00 target price on Manhattan Associates in a research report on Monday. Robert W. Baird upped their target price on Manhattan Associates from $218.00 to $260.00 and gave the company an “outperform” rating in a research report on Wednesday, August 26th. Finally, Stifel Nicolaus boosted their price target on Manhattan Associates from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $214.20.

Manhattan Associates Price Performance

MANH traded up $0.13 during trading on Monday, hitting $204.28. The stock had a trading volume of 105,835 shares, compared to its average volume of 754,468. The company has a 50 day moving average price of $202.94 and a 200-day moving average price of $162.57. The firm has a market cap of $11.91 billion, a price-to-earnings ratio of 58.57 and a beta of 0.95. Manhattan Associates has a one year low of $119.06 and a one year high of $227.03.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.07. The business had revenue of $297.79 million during the quarter, compared to the consensus estimate of $289.03 million. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.31 EPS. As a group, sell-side analysts predict that Manhattan Associates will post 3.86 EPS for the current fiscal year.

Insider Transactions at Manhattan Associates

In other news, EVP James Gantt sold 5,139 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $195.53, for a total value of $1,004,828.67. Following the completion of the sale, the executive vice president owned 55,676 shares of the company’s stock, valued at approximately $10,886,328.28. This represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Eric Clark sold 3,000 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total value of $593,280.00. Following the completion of the sale, the chief executive officer directly owned 89,638 shares of the company’s stock, valued at approximately $17,726,810.88. The trade was a 3.24% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.84% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Manhattan Associates

Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Manhattan Associates during the 2nd quarter valued at about $944,285,000. T. Rowe Price Investment Management Inc. boosted its holdings in Manhattan Associates by 35.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,580,241 shares of the software maker’s stock worth $447,182,000 after acquiring an additional 671,589 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Manhattan Associates by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 1,753,909 shares of the software maker’s stock worth $305,199,000 after acquiring an additional 88,005 shares in the last quarter. Swedbank AB boosted its holdings in Manhattan Associates by 25.0% in the first quarter. Swedbank AB now owns 1,500,000 shares of the software maker’s stock worth $199,680,000 after acquiring an additional 300,000 shares in the last quarter. Finally, TD Asset Management Inc boosted its holdings in Manhattan Associates by 37.2% in the fourth quarter. TD Asset Management Inc now owns 730,815 shares of the software maker’s stock worth $126,658,000 after acquiring an additional 198,228 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Company Profile

Manhattan Associates, Inc develops cloud-based software designed to help businesses manage supply chains, inventory, warehouse operations, transportation, and omnichannel commerce. Its solutions are used by retailers, wholesalers, manufacturers, distributors, logistics providers, and other organizations seeking to coordinate products, orders, labor, and fulfillment activities.

The company’s product portfolio includes Manhattan Active Warehouse Management, Manhattan Active Transportation Management, Manhattan Active Order Management, and related tools for inventory optimization, workforce management, customer engagement, and point-of-sale operations.