William Blair Reaffirms “Market Perform” Rating for Manhattan Associates (NASDAQ:MANH)

William Blair restated their market perform rating on shares of Manhattan Associates (NASDAQ:MANH) in a research note published on Wednesday, Zacks.com reports.

Several other equities analysts have also recently commented on MANH. Rosenblatt Securities reaffirmed a neutral rating and issued a $225.00 price target on shares of Manhattan Associates in a report on Wednesday. Citigroup lowered their price target on shares of Manhattan Associates from $260.00 to $220.00 and set a neutral rating on the stock in a report on Wednesday. Raymond James lifted their target price on shares of Manhattan Associates from $214.00 to $250.00 and gave the company an outperform rating in a research report on Wednesday, January 31st. DA Davidson upgraded shares of Manhattan Associates from a neutral rating to a buy rating and raised their price target for the stock from $220.00 to $240.00 in a research note on Thursday. Finally, Truist Financial upped their price objective on Manhattan Associates from $240.00 to $260.00 and gave the company a buy rating in a research note on Wednesday, January 31st. Three equities 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, Manhattan Associates presently has an average rating of Moderate Buy and an average price target of $234.86.

Manhattan Associates Stock Performance

Shares of NASDAQ:MANH opened at $209.02 on Wednesday. Manhattan Associates has a 52-week low of $164.55 and a 52-week high of $266.94. The company has a market cap of $12.87 billion, a P/E ratio of 68.31 and a beta of 1.44. The stock’s 50-day moving average is $244.34 and its 200-day moving average is $226.79.

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 analysts’ consensus estimates of $0.55 by $0.23. Manhattan Associates had a net margin of 19.91% and a return on equity of 85.28%. The business had revenue of $238.26 million for the quarter, compared to analyst estimates of $223.99 million. As a group, equities analysts predict that Manhattan Associates will post 2.81 EPS for the current year.

Insiders Place Their Bets

In other news, EVP James Stewart Gantt sold 680 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total transaction of $169,211.20. Following the transaction, the executive vice president now directly owns 57,093 shares in the company, valued at $14,207,022.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Manhattan Associates 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 transaction of $2,699,513.81. Following the transaction, the chief executive officer now directly owns 242,153 shares in the company, valued at approximately $59,988,562.69. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP James Stewart Gantt sold 680 shares of Manhattan Associates 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 sale, the executive vice president now owns 57,093 shares of the company’s stock, valued at approximately $14,207,022.12. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Institutional Trading of Manhattan Associates

A number of institutional investors have recently bought and sold shares of MANH. CWM LLC lifted its stake in Manhattan Associates by 22.0% in the third quarter. CWM LLC now owns 997 shares of the software maker’s stock valued at $197,000 after buying an additional 180 shares during the period. AE Wealth Management LLC raised its position in shares of Manhattan Associates by 119.8% in the 3rd quarter. AE Wealth Management LLC now owns 3,271 shares of the software maker’s stock valued at $647,000 after acquiring an additional 1,783 shares during the period. SG Americas Securities LLC boosted its stake in Manhattan Associates by 61.5% during the 3rd quarter. SG Americas Securities LLC now owns 9,287 shares of the software maker’s stock worth $1,836,000 after acquiring an additional 3,537 shares during the last quarter. DAVENPORT & Co LLC grew its holdings in Manhattan Associates by 1.2% during the third quarter. DAVENPORT & Co LLC now owns 5,220 shares of the software maker’s stock valued at $1,032,000 after purchasing an additional 60 shares during the period. Finally, UMB Bank n.a. increased its stake in Manhattan Associates by 474.4% in the third quarter. UMB Bank n.a. now owns 224 shares of the software maker’s stock valued at $44,000 after purchasing an additional 185 shares in the last quarter. Institutional investors and hedge funds 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.