Citigroup Raises Manhattan Associates (NASDAQ:MANH) Price Target to $287.00

Manhattan Associates (NASDAQ:MANH) had its price target raised by Citigroup from $257.00 to $287.00 in a research note released on Wednesday, Benzinga reports. They currently have a neutral rating on the software maker’s stock.

Several other equities research analysts have also commented on MANH. StockNews.com lowered Manhattan Associates from a buy rating to a hold rating in a research note on Thursday, August 1st. DA Davidson raised their price target on shares of Manhattan Associates from $260.00 to $285.00 and gave the company a buy rating in a report on Wednesday, July 24th. Finally, Loop Capital boosted their price objective on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a buy rating in a research note on Monday, September 16th. Four 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, the stock has an average rating of Moderate Buy and an average target price of $264.57.

Manhattan Associates Stock Performance

MANH opened at $280.25 on Wednesday. Manhattan Associates has a 1 year low of $182.97 and a 1 year high of $287.63. The company’s 50 day simple moving average is $258.44 and its 200 day simple moving average is $241.43. The stock has a market capitalization of $17.25 billion, a PE ratio of 91.58 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, July 23rd. The software maker reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.22. The company had revenue of $265.30 million during the quarter, compared to analysts’ expectations of $255.83 million. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.63 EPS. As a group, sell-side analysts expect that Manhattan Associates will post 3.01 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP James Stewart Gantt sold 6,000 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the transaction, the executive vice president now directly owns 46,287 shares of the company’s stock, valued at $11,872,615.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.72% of the company’s stock.

Institutional Trading of Manhattan Associates

Hedge funds and other institutional investors have recently modified their holdings of the business. Tobam acquired a new stake in Manhattan Associates during the 1st quarter valued at approximately $25,000. Innealta Capital LLC purchased a new position in shares of Manhattan Associates during the 2nd quarter valued at approximately $26,000. Benjamin Edwards Inc. acquired a new stake in shares of Manhattan Associates during the first quarter worth approximately $27,000. International Assets Investment Management LLC bought a new stake in shares of Manhattan Associates in the second quarter worth $27,000. Finally, Contravisory Investment Management Inc. acquired a new stake in Manhattan Associates in the first quarter valued at $31,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

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.