Manhattan Associates (NASDAQ:MANH - Free Report) had its price objective lowered by Citigroup from $244.00 to $184.00 in a research note released on Friday morning,Benzinga reports. The firm currently has a neutral rating on the software maker's stock.
A number of other analysts have also issued reports on MANH. Truist Financial decreased their target price on shares of Manhattan Associates from $310.00 to $285.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Raymond James decreased their target price on shares of Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 29th. William Blair upgraded shares of Manhattan Associates from a "market perform" rating to an "outperform" rating in a research report on Thursday, February 13th. DA Davidson decreased their target price on shares of Manhattan Associates from $315.00 to $270.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Finally, StockNews.com lowered shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Manhattan Associates presently has an average rating of "Moderate Buy" and an average target price of $243.78.
Check Out Our Latest Analysis on Manhattan Associates
Manhattan Associates Trading Down 1.6 %
Shares of MANH stock traded down $2.87 during trading hours on Friday, hitting $172.78. The company's stock had a trading volume of 628,467 shares, compared to its average volume of 501,647. The business has a fifty day moving average of $211.58 and a 200-day moving average of $256.24. The stock has a market cap of $10.56 billion, a price-to-earnings ratio of 49.23 and a beta of 1.47. Manhattan Associates has a twelve month low of $163.10 and a twelve month high of $312.60.
Insider Activity
In other news, CFO Dennis B. Story sold 2,788 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $170.83, for a total value of $476,274.04. Following the transaction, the chief financial officer now owns 101,263 shares of the company's stock, valued at approximately $17,298,758.29. This trade represents a 2.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.72% of the company's stock.
Hedge Funds Weigh In On Manhattan Associates
A number of hedge funds have recently made changes to their positions in the business. Ascent Group LLC raised its stake in shares of Manhattan Associates by 4.8% in the 3rd quarter. Ascent Group LLC now owns 896 shares of the software maker's stock valued at $252,000 after acquiring an additional 41 shares during the period. Huntington National Bank raised its stake in shares of Manhattan Associates by 5.9% in the 3rd quarter. Huntington National Bank now owns 879 shares of the software maker's stock valued at $247,000 after acquiring an additional 49 shares during the period. Metis Global Partners LLC raised its stake in shares of Manhattan Associates by 7.0% in the 4th quarter. Metis Global Partners LLC now owns 837 shares of the software maker's stock valued at $226,000 after acquiring an additional 55 shares during the period. BOKF NA raised its stake in shares of Manhattan Associates by 0.4% in the 4th quarter. BOKF NA now owns 13,271 shares of the software maker's stock valued at $3,522,000 after acquiring an additional 55 shares during the period. Finally, Kestra Investment Management LLC grew its holdings in Manhattan Associates by 2.9% during the 4th quarter. Kestra Investment Management LLC now owns 2,055 shares of the software maker's stock valued at $555,000 after purchasing an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.
About Manhattan Associates
(
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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.
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