Manhattan Associates (NASDAQ:MANH) Given Neutral Rating at Rosenblatt Securities

Rosenblatt Securities reissued their neutral rating on shares of Manhattan Associates (NASDAQ:MANH) in a report released on Monday, Benzinga reports. The brokerage currently has a $225.00 price target on the software maker’s stock.

Other equities analysts have also recently issued research reports about the stock. Truist Financial increased their price target 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. Citigroup began coverage on shares of Manhattan Associates in a research report on Wednesday, March 13th. They set a neutral rating and a $260.00 price target on the stock. Finally, Raymond James increased their price target 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. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $231.29.

Manhattan Associates Price Performance

NASDAQ:MANH opened at $230.49 on Monday. The firm has a 50-day moving average of $248.11 and a two-hundred day moving average of $225.81. The stock has a market cap of $14.19 billion, a P/E ratio of 81.73 and a beta of 1.44. Manhattan Associates has a 1-year low of $152.32 and a 1-year high of $266.94.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.23. The company had revenue of $238.26 million during the quarter, compared to analysts’ expectations of $223.99 million. Manhattan Associates had a net margin of 19.01% and a return on equity of 84.08%. As a group, equities analysts expect that Manhattan Associates will post 2.78 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Eddie Capel sold 10,897 shares of the 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 sale, the chief executive officer now owns 242,153 shares in the company, valued at $59,988,562.69. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Manhattan Associates news, EVP James Stewart Gantt sold 680 shares of the firm’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 value of $169,211.20. Following the sale, the executive vice president now 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. Also, CEO Eddie Capel sold 10,897 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 242,153 shares in the company, valued at approximately $59,988,562.69. The disclosure for this sale can be found here. 0.85% of the stock is owned by company insiders.

Institutional Investors Weigh In On Manhattan Associates

Large investors have recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky increased its stake in shares of Manhattan Associates by 59.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 21,612 shares of the software maker’s stock valued at $4,271,000 after purchasing an additional 8,094 shares during the period. Highland Capital Management LLC acquired a new stake in shares of Manhattan Associates in the fourth quarter valued at approximately $1,142,000. Redhawk Wealth Advisors Inc. acquired a new stake in shares of Manhattan Associates in the fourth quarter valued at approximately $1,050,000. Zions Bancorporation N.A. increased its stake in shares of Manhattan Associates by 6.2% during the third quarter. Zions Bancorporation N.A. now owns 8,418 shares of the software maker’s stock valued at $1,664,000 after acquiring an additional 489 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in shares of Manhattan Associates during the fourth quarter valued at approximately $2,039,000. Institutional investors and hedge funds 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.