Manhattan Associates, Inc. (NASDAQ:MANH) Receives $243.78 Average Price Target from Brokerages

Manhattan Associates, Inc. (NASDAQ:MANH - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the ten analysts that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $243.78.

MANH has been the subject of a number of research analyst reports. Piper Sandler decreased their price objective on shares of Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, March 14th. Robert W. Baird reduced their price objective on Manhattan Associates from $282.00 to $225.00 and set an "outperform" rating for the company in a report on Tuesday, March 18th. Citigroup lowered their target price on Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating on the stock in a research note on Friday, March 14th. William Blair upgraded Manhattan Associates from a "market perform" rating to an "outperform" rating in a research note on Thursday, February 13th. Finally, StockNews.com lowered shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Monday, January 13th.

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Insider Activity at Manhattan Associates

In other Manhattan Associates 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 sale, the chief financial officer now owns 101,263 shares of the company's stock, valued at $17,298,758.29. This trade represents a 2.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.72% of the stock is owned by insiders.

Institutional Trading of Manhattan Associates

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Twin Tree Management LP bought a new stake in shares of Manhattan Associates during the 4th quarter valued at $25,000. Synergy Asset Management LLC bought a new stake in Manhattan Associates during the fourth quarter worth about $35,000. Whipplewood Advisors LLC bought a new position in shares of Manhattan Associates during the fourth quarter valued at approximately $34,000. Park Square Financial Group LLC purchased a new position in shares of Manhattan Associates during the fourth quarter valued at approximately $38,000. Finally, Transce3nd LLC bought a new stake in shares of Manhattan Associates in the 4th quarter worth approximately $41,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Trading Down 2.2 %

Shares of MANH traded down $4.01 during trading hours on Friday, reaching $175.55. 292,991 shares of the stock traded hands, compared to its average volume of 516,619. Manhattan Associates has a 52 week low of $163.10 and a 52 week high of $312.60. The company has a market cap of $10.73 billion, a price-to-earnings ratio of 50.01 and a beta of 1.47. The stock has a fifty day simple moving average of $202.16 and a 200 day simple moving average of $253.38.

Manhattan Associates Company Profile

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.