Manhattan Associates (NASDAQ:MANH) Rating Lowered to “Neutral” at DA Davidson

Manhattan Associates (NASDAQ:MANH) was downgraded by investment analysts at DA Davidson from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday, Marketbeat.com reports. They currently have a $210.00 price objective on the software maker’s stock. DA Davidson’s price target would indicate a potential upside of 2.87% from the stock’s previous close.

MANH has been the topic of several other research reports. Weiss Ratings raised Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 14th. 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. UBS Group set a $210.00 target price on Manhattan Associates in a research note on Monday. Robert W. Baird boosted their price target on shares of Manhattan Associates from $218.00 to $260.00 and gave the stock an “outperform” rating in a report on Wednesday, August 26th. Finally, Wall Street Zen lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Manhattan Associates presently has an average rating of “Moderate Buy” and a consensus price target of $214.20.

Manhattan Associates Stock Up 2.7%

NASDAQ:MANH traded up $5.45 during trading hours on Monday, hitting $204.15. 501,783 shares of the company traded hands, compared to its average volume of 757,984. Manhattan Associates has a one year low of $119.06 and a one year high of $227.03. The company has a market cap of $11.90 billion, a PE ratio of 58.50 and a beta of 0.95. The firm’s 50-day simple moving average is $201.81 and its 200-day simple moving average is $162.12.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.07. Manhattan Associates had a net margin of 18.67% and a return on equity of 86.72%. The business had revenue of $297.79 million during the quarter, compared to the consensus estimate of $289.03 million. During the same period in the prior year, the firm posted $1.31 EPS. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, equities research analysts expect that Manhattan Associates will post 3.87 EPS for the current year.

Insider Activity

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

Hedge Funds Weigh In On Manhattan Associates

Several hedge funds have recently made changes to their positions in the stock. BNP Paribas purchased a new stake in Manhattan Associates during the 4th quarter worth about $39,000. NBH Bank purchased a new position in Manhattan Associates during the 2nd quarter valued at about $37,000. Versant Capital Management Inc increased its position in shares of Manhattan Associates by 508.9% during the second quarter. Versant Capital Management Inc now owns 274 shares of the software maker’s stock valued at $38,000 after buying an additional 229 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Manhattan Associates in the fourth quarter worth about $55,000. Finally, V Square Quantitative Management LLC boosted its position in shares of Manhattan Associates by 35.9% in the first quarter. V Square Quantitative Management LLC now owns 348 shares of the software maker’s stock valued at $46,000 after acquiring an additional 92 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

About Manhattan Associates

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.