Manhattan Associates (NASDAQ:MANH) Downgraded by DA Davidson to Neutral

Manhattan Associates (NASDAQ:MANH) was downgraded by research analysts at DA Davidson from a “buy” rating to a “neutral” rating in a research note issued on Monday, MarketBeat Ratings reports. They currently have a $210.00 price objective on the software maker’s stock. DA Davidson’s price target suggests a potential upside of 2.87% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. UBS Group set a $210.00 target price on Manhattan Associates in a research report on Monday. Weiss Ratings upgraded Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 14th. Robert W. Baird raised 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. Barclays raised their target price on Manhattan Associates from $201.00 to $239.00 and gave the company an “overweight” rating in a research report on Tuesday, September 8th. Finally, Citigroup raised their target price on Manhattan Associates from $177.00 to $193.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $214.20.

Manhattan Associates Stock Up 2.7%

Shares of NASDAQ MANH traded up $5.45 during midday trading on Monday, hitting $204.15. The stock had a trading volume of 501,783 shares, compared to its average volume of 757,984. The company has a market capitalization of $11.90 billion, a PE ratio of 58.50 and a beta of 0.95. The stock has a 50 day simple moving average of $201.81 and a 200-day simple moving average of $162.12. Manhattan Associates has a 1 year low of $119.06 and a 1 year high of $227.03.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.07. The business had revenue of $297.79 million for 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 business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.31 earnings per share. As a group, analysts expect that Manhattan Associates will post 3.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP James Gantt sold 5,139 shares of Manhattan Associates stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the transaction, the executive vice president owned 55,676 shares in the company, valued at approximately $10,886,328.28. This trade represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Eric Clark sold 3,000 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total value of $593,280.00. Following the transaction, the chief executive officer owned 89,638 shares in the company, valued at approximately $17,726,810.88. The trade was a 3.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Manhattan Associates

A number of institutional investors have recently added to or reduced their stakes in MANH. BNP Paribas acquired a new stake in Manhattan Associates during the fourth quarter worth $39,000. NBH Bank acquired a new stake in Manhattan Associates during the second quarter worth $37,000. Versant Capital Management Inc increased its stake in Manhattan Associates by 508.9% during the second quarter. Versant Capital Management Inc now owns 274 shares of the software maker’s stock worth $38,000 after acquiring an additional 229 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in Manhattan Associates during the fourth quarter worth $55,000. Finally, V Square Quantitative Management LLC increased its stake in Manhattan Associates by 35.9% during the first quarter. V Square Quantitative Management LLC now owns 348 shares of the software maker’s stock worth $46,000 after acquiring an additional 92 shares during the last quarter. Hedge funds and other 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.