Manhattan Associates (NASDAQ:MANH) Shares Gap Down – What’s Next?

Manhattan Associates, Inc. (NASDAQ:MANH)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $292.32, but opened at $280.00. Manhattan Associates shares last traded at $268.98, with a volume of 145,894 shares traded.

Wall Street Analysts Forecast Growth

MANH has been the topic of a number of recent research reports. DA Davidson upped their price objective on shares of Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Raymond James boosted their price objective on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research report on Wednesday. Loop Capital increased their price target on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Citigroup increased their target price on Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Finally, Robert W. Baird boosted their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Manhattan Associates presently has a consensus rating of “Moderate Buy” and an average target price of $282.63.

Manhattan Associates Price Performance

The business has a 50-day moving average of $273.75 and a two-hundred day moving average of $246.41. The company has a market cap of $16.68 billion, a P/E ratio of 87.82 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.29. The business had revenue of $266.70 million for the quarter, compared to analysts’ expectations of $262.90 million. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The company’s revenue was up 11.9% compared to the same quarter last year. During the same period last year, the business earned $0.79 EPS. Equities analysts anticipate that Manhattan Associates, Inc. will post 3.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP James Stewart Gantt sold 6,000 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total value of $1,539,000.00. Following the completion of the sale, the executive vice president now owns 46,287 shares of the company’s stock, valued at $11,872,615.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Sunbelt Securities Inc. grew its holdings in shares of Manhattan Associates by 57.1% during the first quarter. Sunbelt Securities Inc. now owns 779 shares of the software maker’s stock valued at $195,000 after buying an additional 283 shares during the last quarter. DGS Capital Management LLC lifted its holdings in shares of Manhattan Associates by 13.4% during the first quarter. DGS Capital Management LLC now owns 7,412 shares of the software maker’s stock worth $1,855,000 after purchasing an additional 877 shares during the period. Janiczek Wealth Management LLC boosted its position in Manhattan Associates by 4.6% in the first quarter. Janiczek Wealth Management LLC now owns 1,492 shares of the software maker’s stock valued at $373,000 after buying an additional 65 shares during the last quarter. Capital Insight Partners LLC raised its position in Manhattan Associates by 0.7% during the 1st quarter. Capital Insight Partners LLC now owns 14,980 shares of the software maker’s stock worth $3,748,000 after buying an additional 106 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Manhattan Associates by 67.7% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 3,312 shares of the software maker’s stock valued at $829,000 after acquiring an additional 1,337 shares during the last quarter. 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.