Manhattan Associates (MANH) Scheduled to Post Quarterly Earnings on Tuesday

Manhattan Associates (NASDAQ:MANH) will be issuing its quarterly earnings data after the market closes on Tuesday, April 23rd. Analysts expect the company to announce earnings of $0.87 per share for the quarter. Manhattan Associates has set its FY24 guidance at $3.69-3.79 EPS and its FY 2024 guidance at 3.690-3.790 EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.23. The company had revenue of $238.26 million for the quarter, compared to analyst estimates of $223.99 million. Manhattan Associates had a return on equity of 84.08% and a net margin of 19.01%. On average, analysts expect Manhattan Associates to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Manhattan Associates Stock Performance

NASDAQ MANH opened at $230.49 on Tuesday. The stock’s fifty day moving average is $248.11 and its two-hundred day moving average is $225.81. The firm has a market capitalization of $14.19 billion, a P/E ratio of 81.73 and a beta of 1.44. Manhattan Associates has a fifty-two week low of $152.32 and a fifty-two week high of $266.94.

Insider Buying and Selling

In related news, EVP James Stewart Gantt sold 680 shares of the 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 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 is available through this hyperlink. 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 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 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 available 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 value of $169,211.20. Following the sale, 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. 0.85% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Manhattan Associates

Several large investors have recently bought and sold shares of MANH. Eagle Bay Advisors LLC purchased a new position in shares of Manhattan Associates in the 2nd quarter valued at about $36,000. Compass Wealth Management LLC purchased a new position in shares of Manhattan Associates in the 4th quarter valued at about $42,000. Sunbelt Securities Inc. purchased a new position in shares of Manhattan Associates in the 1st quarter valued at about $65,000. First Capital Advisors Group LLC. purchased a new position in shares of Manhattan Associates in the 2nd quarter valued at about $65,000. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of Manhattan Associates by 74.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,241 shares of the software maker’s stock valued at $151,000 after acquiring an additional 531 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on MANH. Truist Financial boosted their price objective on Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Citigroup initiated coverage on Manhattan Associates in a research note on Wednesday, March 13th. They issued a “neutral” rating and a $260.00 price target on the stock. Raymond James upped their price target on Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $225.00 price target on shares of Manhattan Associates in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $231.29.

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.