Manhattan Associates (NASDAQ:MANH) PT Lowered to $220.00

Manhattan Associates (NASDAQ:MANH) had its target price reduced by investment analysts at Citigroup from $260.00 to $220.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the software maker’s stock. Citigroup’s price target points to a potential upside of 5.62% from the company’s previous close.

Other research analysts have also issued research reports about the company. Rosenblatt Securities reissued a “neutral” rating and issued a $225.00 target price on shares of Manhattan Associates in a research report on Wednesday. Truist Financial raised their price objective on Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Finally, Raymond James raised their price objective on Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Manhattan Associates presently has an average rating of “Moderate Buy” and an average target price of $234.86.

Manhattan Associates Stock Performance

Shares of NASDAQ:MANH opened at $208.30 on Wednesday. Manhattan Associates has a 52-week low of $163.43 and a 52-week high of $266.94. The firm has a market capitalization of $12.83 billion, a P/E ratio of 68.07 and a beta of 1.44. The stock has a 50 day moving average price of $245.12 and a 200-day moving average price of $226.92.

Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.23. Manhattan Associates had a return on equity of 87.22% and a net margin of 19.91%. The firm had revenue of $238.26 million during the quarter, compared to analyst estimates of $223.99 million. On average, equities analysts forecast that Manhattan Associates will post 2.78 EPS for the current fiscal year.

Insider Activity at Manhattan Associates

In related news, EVP James Stewart Gantt sold 680 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total transaction 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 approximately $14,207,022.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Manhattan Associates news, CEO Eddie Capel sold 10,897 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 242,153 shares in the company, valued at approximately $59,988,562.69. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP James Stewart Gantt sold 680 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total value of $169,211.20. Following the sale, the executive vice president now owns 57,093 shares in the company, valued at $14,207,022.12. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

Institutional Trading of Manhattan Associates

Several institutional investors have recently added to or reduced their stakes in MANH. Norges Bank purchased a new stake in Manhattan Associates during the 4th quarter valued at $146,984,000. TD Asset Management Inc boosted its stake in shares of Manhattan Associates by 234.2% in the 4th quarter. TD Asset Management Inc now owns 549,308 shares of the software maker’s stock worth $118,277,000 after buying an additional 384,941 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of Manhattan Associates by 184.3% in the 3rd quarter. California Public Employees Retirement System now owns 352,665 shares of the software maker’s stock worth $69,708,000 after buying an additional 228,618 shares during the last quarter. Epoch Investment Partners Inc. boosted its stake in shares of Manhattan Associates by 110.6% in the 4th quarter. Epoch Investment Partners Inc. now owns 369,352 shares of the software maker’s stock worth $79,529,000 after buying an additional 193,951 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Manhattan Associates by 16.8% in the 4th quarter. Franklin Resources Inc. now owns 872,966 shares of the software maker’s stock worth $187,967,000 after buying an additional 125,541 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Company Profile

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.