Manhattan Associates, Inc. (MANH) Receives $59.51 Consensus Price Target from Analysts

Shares of Manhattan Associates, Inc. (NASDAQ:MANH) have earned an average rating of “Buy” from the six ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $59.51.

A number of research analysts have recently commented on MANH shares. TheStreet raised Manhattan Associates from a “c+” rating to a “b-” rating in a report on Friday, March 1st. Zacks Investment Research raised Manhattan Associates from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Friday, April 26th. SunTrust Banks raised Manhattan Associates from a “hold” rating to a “buy” rating and set a $59.02 price target on the stock in a report on Monday, April 22nd. BidaskClub raised Manhattan Associates from a “hold” rating to a “buy” rating in a report on Tuesday, January 29th. Finally, ValuEngine lowered Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, February 7th.

In related news, SVP Robert G. Howell sold 2,750 shares of Manhattan Associates stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $54.00, for a total transaction of $148,500.00. Following the transaction, the senior vice president now directly owns 155,697 shares of the company’s stock, valued at $8,407,638. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Bruce Richards sold 5,454 shares of Manhattan Associates stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $55.21, for a total value of $301,115.34. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,310 shares of company stock worth $562,834. 0.68% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in MANH. Arizona State Retirement System boosted its position in shares of Manhattan Associates by 0.5% in the 4th quarter. Arizona State Retirement System now owns 46,924 shares of the software maker’s stock valued at $1,988,000 after purchasing an additional 231 shares during the period. Capital Insight Partners LLC boosted its position in shares of Manhattan Associates by 1.2% in the 1st quarter. Capital Insight Partners LLC now owns 21,023 shares of the software maker’s stock valued at $1,159,000 after purchasing an additional 240 shares during the period. Alps Advisors Inc. boosted its position in shares of Manhattan Associates by 1.0% in the 4th quarter. Alps Advisors Inc. now owns 28,062 shares of the software maker’s stock valued at $1,189,000 after purchasing an additional 291 shares during the period. LPL Financial LLC boosted its position in shares of Manhattan Associates by 4.5% in the 4th quarter. LPL Financial LLC now owns 7,097 shares of the software maker’s stock valued at $301,000 after purchasing an additional 305 shares during the period. Finally, Quantamental Technologies LLC boosted its position in shares of Manhattan Associates by 23.7% in the 1st quarter. Quantamental Technologies LLC now owns 1,677 shares of the software maker’s stock valued at $92,000 after purchasing an additional 321 shares during the period.

Shares of MANH traded up $0.94 during trading hours on Friday, reaching $65.84. 2,060 shares of the company’s stock traded hands, compared to its average volume of 445,100. The firm has a market capitalization of $4.24 billion, a price-to-earnings ratio of 41.74 and a beta of 1.57. Manhattan Associates has a twelve month low of $39.01 and a twelve month high of $68.96.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, April 23rd. The software maker reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). The business had revenue of $148.40 million for the quarter, compared to analyst estimates of $137.55 million. Manhattan Associates had a net margin of 17.85% and a return on equity of 73.80%. Manhattan Associates’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period last year, the business posted $0.37 earnings per share. On average, research analysts expect that Manhattan Associates will post 1.09 earnings per share for the current fiscal year.

About Manhattan Associates

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations for retailers, wholesalers, manufacturers, logistics providers, and other organizations. The company offers Manhattan SCALE, a portfolio of logistics execution solutions that provide trading partner management, yard management, optimization, warehouse management, and transportation execution services; and Manhattan Active, a set of enterprise and store omni-channel solutions.

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