Manhattan Associates, Inc. (NASDAQ:MANH – Get Rating) saw a large growth in short interest in May. As of May 15th, there was short interest totalling 1,120,000 shares, a growth of 48.9% from the April 30th total of 752,000 shares. Currently, 1.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 331,500 shares, the days-to-cover ratio is currently 3.4 days.
MANH has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Manhattan Associates from a “hold” rating to a “buy” rating in a research report on Thursday, April 7th. Raymond James upgraded shares of Manhattan Associates from a “market perform” rating to an “outperform” rating and set a $170.00 price target on the stock in a research report on Tuesday, March 22nd. Zacks Investment Research upgraded shares of Manhattan Associates from a “hold” rating to a “strong-buy” rating and set a $150.00 price target on the stock in a research report on Tuesday, May 3rd. Finally, Rosenblatt Securities lowered their price objective on shares of Manhattan Associates from $195.00 to $165.00 and set a “buy” rating on the stock in a research note on Wednesday, February 2nd. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Manhattan Associates currently has an average rating of “Buy” and a consensus target price of $178.33.
Several institutional investors have recently added to or reduced their stakes in MANH. NewEdge Wealth LLC grew its position in Manhattan Associates by 0.5% during the third quarter. NewEdge Wealth LLC now owns 13,914 shares of the software maker’s stock valued at $2,129,000 after purchasing an additional 72 shares in the last quarter. Advisor Partners LLC grew its position in Manhattan Associates by 4.7% during the first quarter. Advisor Partners LLC now owns 1,858 shares of the software maker’s stock valued at $258,000 after purchasing an additional 84 shares in the last quarter. People s United Financial Inc. grew its position in Manhattan Associates by 1.1% during the first quarter. People s United Financial Inc. now owns 7,997 shares of the software maker’s stock valued at $1,109,000 after purchasing an additional 90 shares in the last quarter. Prudential PLC grew its position in Manhattan Associates by 0.9% during the first quarter. Prudential PLC now owns 10,454 shares of the software maker’s stock valued at $1,450,000 after purchasing an additional 90 shares in the last quarter. Finally, Hancock Whitney Corp grew its position in Manhattan Associates by 0.5% during the fourth quarter. Hancock Whitney Corp now owns 16,897 shares of the software maker’s stock valued at $2,628,000 after purchasing an additional 92 shares in the last quarter. 96.76% of the stock is currently owned by institutional investors and hedge funds.
Shares of Manhattan Associates stock traded up $3.47 during trading on Friday, hitting $122.58. The stock had a trading volume of 321,051 shares, compared to its average volume of 341,635. The stock has a 50 day simple moving average of $130.48 and a 200 day simple moving average of $138.49. The company has a market capitalization of $7.74 billion, a PE ratio of 66.26 and a beta of 1.89. Manhattan Associates has a 1 year low of $111.58 and a 1 year high of $188.52.
Manhattan Associates (NASDAQ:MANH – Get Rating) last released its earnings results on Tuesday, April 26th. The software maker reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.16. The business had revenue of $178.96 million for the quarter, compared to the consensus estimate of $168.81 million. Manhattan Associates had a net margin of 17.27% and a return on equity of 51.60%. During the same period last year, the firm posted $0.29 earnings per share. On average, sell-side analysts predict that Manhattan Associates will post 1.45 earnings per share for the current year.
About Manhattan Associates (Get Rating)
Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It 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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