Manhattan Associates (NASDAQ:MANH) Given New $305.00 Price Target at Raymond James

Manhattan Associates (NASDAQ:MANH) had its target price increased by Raymond James from $255.00 to $305.00 in a report released on Wednesday, Benzinga reports. Raymond James currently has an outperform rating on the software maker’s stock.

Several other research analysts have also commented on the company. Citigroup lifted their target price on Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Loop Capital lifted their target price on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Truist Financial raised their price target on Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Finally, Robert W. Baird raised their price target on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $286.38.

Manhattan Associates Stock Down 7.2 %

Shares of NASDAQ MANH opened at $271.36 on Wednesday. The firm has a market cap of $16.71 billion, a PE ratio of 88.68 and a beta of 1.50. The business has a 50 day moving average price of $274.18 and a two-hundred day moving average price of $246.59. Manhattan Associates has a fifty-two week low of $182.97 and a fifty-two week high of $307.50.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, topping the consensus estimate of $1.06 by $0.29. The company had revenue of $266.70 million during the quarter, compared to analyst estimates of $262.90 million. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The business’s revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.79 EPS. On average, analysts anticipate that Manhattan Associates will post 3.01 earnings per share for the current year.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of Manhattan Associates stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the sale, the executive vice president now owns 46,287 shares of the company’s stock, valued at $11,872,615.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is owned by company insiders.

Institutional Trading of Manhattan Associates

Several hedge funds have recently added to or reduced their stakes in MANH. Tobam bought a new stake in Manhattan Associates during the 1st quarter valued at $25,000. Innealta Capital LLC bought a new stake in shares of Manhattan Associates in the 2nd quarter worth $26,000. International Assets Investment Management LLC bought a new stake in shares of Manhattan Associates in the 2nd quarter worth $27,000. DT Investment Partners LLC bought a new stake in shares of Manhattan Associates in the 2nd quarter worth $31,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Manhattan Associates in the 2nd quarter worth $31,000. Institutional investors own 98.45% of the company’s stock.

About Manhattan Associates

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.