Manhattan Associates (NASDAQ:MANH) hits new 52-week high on analyst update

Shares of Manhattan Associates, Inc. (NASDAQ:MANH – Get Free Report ) hit a new 52-week high during trading on Tuesday, after Loop Capital upped their target price for the stock from $265.00 to $285.00. Loop Capital currently has a buy rating on the stock. Manhattan Associates traded as high as $272.36 and last traded at $272.26, with a volume of 12647 shares changing hands. Shares previously closed at $270.40.

A number of other equities research analysts have recently issued reports on the company. DA Davidson upped their target price on Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Citigroup boosted their target price on Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a report on Friday, June 28th. Finally, StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Manhattan Associates currently has a consensus rating of “Moderate Buy” and a consensus price target of $260.29, according to MarketBeat.

Get the latest stock analysis on Manhattan Associates

Insiders place their bets

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

Institutional inputs and outputs

A number of hedge funds and other institutional investors have recently made changes to their positions in MANH. Norges Bank acquired a new stake in Manhattan Associates during the fourth quarter valued at about $146,984,000. TD Asset Management Inc raised its stake in shares of Manhattan Associates by 234.2% in the fourth quarter. TD Asset Management Inc now owns 549,308 shares of the software maker’s stock valued at $118,277,000 after acquiring an additional 384,941 shares during the last quarter. M&G Plc purchased a new position in shares of Manhattan Associates in the first quarter valued at $77,433,000. Epoch Investment Partners Inc. boosted its stake in Manhattan Associates by 110.6% during the fourth quarter. Epoch Investment Partners Inc. now owns 369,352 shares of the software maker’s stock worth $79,529,000 after purchasing an additional 193,951 shares in the last quarter. Finally, Fiera Capital Corp bought a new position in Manhattan Associates in the second quarter worth $44,705,000. 98.45% of shares are owned by institutional investors and hedge funds.

Manhattan Associates Price Performance

The company’s fifty-day simple moving average is $251.12, and its 200-day simple moving average is $239.94. The firm has a market cap of $16.57 billion, a price-to-earnings ratio of 88.54 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH – Get Free Report ) last posted its earnings results on Tuesday, July 23rd. The software maker reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.22. The business had revenue of $265.30 million during the quarter, compared to analyst estimates of $255.83 million. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The company’s revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the company posted EPS of $0.63. Equities research analysts expect that Manhattan Associates, Inc. to post 3.01 earnings per share for the current fiscal year.

Manhattan Associates Company Profile

(Get a free report)

Manhattan Associates, Inc develops, sells, implements, services and maintains software solutions to manage supply chains, inventory and omnichannel operations. Provides warehouse management solution for managing goods and information in distribution centers; Manhattan Active Warehouse Management, a cloud-native application with no associate versions; and transportation management solution to help shippers navigate their way through requirements and meet customer service expectations at the lowest possible transportation costs; Manhattan SCALE, a portfolio of logistics execution solutions; and Manhattan Active Omni, which provides order management, in-store inventory and fulfillment, POS and customer engagement tools for businesses and stores.

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