Manhattan Associates (NASDAQ:MANH) Rating Increased to Buy at DA Davidson

DA Davidson upgraded shares of Manhattan Associates (NASDAQ:MANH) from a neutral rating to a buy rating in a research note issued to investors on Thursday, Marketbeat.com reports. They currently have $240.00 price target on the software maker’s stock, up from their prior price target of $220.00. DA Davidson also issued estimates for Manhattan Associates’ Q2 2024 earnings at $0.70 EPS, FY2024 earnings at $2.90 EPS and FY2025 earnings at $3.60 EPS.

MANH has been the topic of a number of other reports. Citigroup reduced their price objective on shares of Manhattan Associates from $260.00 to $220.00 and set a neutral rating on the stock in a research report on Wednesday. Rosenblatt Securities reissued a neutral rating and set a $225.00 price objective on shares of Manhattan Associates in a research report on Wednesday. Raymond James upped their target price on shares of Manhattan Associates from $214.00 to $250.00 and gave the stock an outperform rating in a research report on Wednesday, January 31st. Finally, Truist Financial upped their target price on shares of Manhattan Associates from $240.00 to $260.00 and gave the stock a buy rating in a research report on Wednesday, January 31st. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $234.86.

Manhattan Associates Stock Up 0.3 %

Shares of NASDAQ MANH opened at $209.02 on Thursday. The firm’s fifty day moving average is $243.64 and its 200 day moving average is $226.91. The company has a market cap of $12.87 billion, a price-to-earnings ratio of 68.31 and a beta of 1.44. Manhattan Associates has a 52 week low of $164.55 and a 52 week high of $266.94.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.23. The business had revenue of $238.26 million for the quarter, compared to the consensus estimate of $223.99 million. Manhattan Associates had a net margin of 19.91% and a return on equity of 85.28%. Equities research analysts anticipate that Manhattan Associates will post 2.72 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Eddie Capel sold 10,897 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total value of $2,699,513.81. Following the transaction, the chief executive officer now 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. In related news, CEO Eddie Capel sold 10,897 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total value of $2,699,513.81. Following the transaction, the chief executive officer now 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 company’s stock in a transaction dated 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 in the company, valued at approximately $14,207,022.12. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Manhattan Associates

Several hedge funds and other institutional investors have recently bought and sold shares of MANH. FMR LLC lifted its stake in Manhattan Associates by 2.1% during the 3rd quarter. FMR LLC now owns 1,628,850 shares of the software maker’s stock valued at $321,958,000 after acquiring an additional 33,549 shares during the period. Morgan Stanley lifted its stake in Manhattan Associates by 0.9% during the 3rd quarter. Morgan Stanley now owns 1,522,444 shares of the software maker’s stock valued at $300,927,000 after acquiring an additional 13,303 shares during the period. Franklin Resources Inc. lifted its stake in Manhattan Associates by 16.8% during the 4th quarter. Franklin Resources Inc. now owns 872,966 shares of the software maker’s stock valued at $187,967,000 after acquiring an additional 125,541 shares during the period. Norges Bank bought a new position in Manhattan Associates during the 4th quarter valued at about $146,984,000. Finally, Northern Trust Corp lifted its stake in Manhattan Associates by 10.5% during the 3rd quarter. Northern Trust Corp now owns 645,187 shares of the software maker’s stock valued at $127,528,000 after acquiring an additional 61,437 shares during the period. Institutional investors own 98.45% of the company’s stock.

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.