Manhattan Associates (NASDAQ:MANH) Price Target Raised to $280.00

Manhattan Associates (NASDAQ:MANH) had its target price boosted by Citigroup from $260.00 to $280.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the software maker’s stock.

Several other equities analysts also recently commented on MANH. Wall Street Zen upgraded shares of Manhattan Associates from a “hold” rating to a “buy” rating in a report on Saturday, October 24th. UBS Group set a $305.00 price objective on shares of Manhattan Associates in a research note on Wednesday. Stifel Nicolaus boosted their target price on Manhattan Associates from $250.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday. Morgan Stanley raised Manhattan Associates from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $180.00 to $250.00 in a research note on Monday, October 12th. Finally, Robert W. Baird increased their price target on Manhattan Associates from $218.00 to $260.00 and gave the stock an “outperform” rating in a report on Wednesday, August 26th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $257.11.

Manhattan Associates Stock Up 3.1%

Shares of MANH opened at $248.39 on Wednesday. The company has a market cap of $14.48 billion, a PE ratio of 69.58 and a beta of 0.95. The business has a fifty day moving average of $216.59 and a 200 day moving average of $166.68. Manhattan Associates has a 52-week low of $119.06 and a 52-week high of $254.00.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, October 27th. The software maker reported $1.55 EPS for the quarter, topping the consensus estimate of $1.46 by $0.09. Manhattan Associates had a net margin of 18.41% and a return on equity of 98.67%. The company had revenue of $306.19 million during the quarter, compared to analyst estimates of $297.01 million. During the same period in the previous year, the firm earned $1.36 earnings per share. Manhattan Associates’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, research analysts anticipate that Manhattan Associates will post 3.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Eric Clark sold 3,000 shares of the company’s 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 $17,726,810.88. This represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.84% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Manhattan Associates

Several large investors have recently modified their holdings of MANH. Bank of America Corp DE bought a new position in shares of Manhattan Associates during the second quarter valued at approximately $75,136,000. William Blair Investment Management LLC purchased a new position in Manhattan Associates during the second quarter valued at approximately $94,049,000. BlackRock Inc. bought a new position in Manhattan Associates in the second quarter worth approximately $944,285,000. Engineers Gate Manager LP raised its stake in Manhattan Associates by 1,309.1% in the second quarter. Engineers Gate Manager LP now owns 132,846 shares of the software maker’s stock worth $18,499,000 after buying an additional 123,418 shares in the last quarter. Finally, Man Group plc purchased a new stake in Manhattan Associates during the second quarter worth $7,809,000. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Company Profile

Manhattan Associates, Inc develops supply chain commerce software for retailers, wholesalers, manufacturers and logistics providers. Its solutions help organizations plan, execute and optimize inventory, warehouse, transportation and omnichannel fulfillment operations.

The company’s product portfolio includes warehouse management, transportation management, order management, inventory optimization, labor management and point-of-sale capabilities. Manhattan Associates also provides tools that support warehouse automation, store fulfillment, distributed order management and customer engagement across digital and physical retail channels.

Founded in 1990 and headquartered in Atlanta, Georgia, Manhattan Associates serves customers across North America, Europe, Asia-Pacific and other international markets.