Manhattan Associates (NASDAQ:MANH) Given New $275.00 Price Target at Loop Capital

Manhattan Associates (NASDAQ:MANH - Get Free Report) had its target price lowered by equities research analysts at Loop Capital from $310.00 to $275.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the software maker's stock. Loop Capital's price objective points to a potential upside of 23.41% from the stock's current price.

Other research analysts have also recently issued research reports about the company. Robert W. Baird increased their price target on Manhattan Associates from $263.00 to $304.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 22nd. StockNews.com cut shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. Raymond James reduced their price target on shares of Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating for the company in a research note on Wednesday. DA Davidson decreased their price objective on shares of Manhattan Associates from $315.00 to $270.00 and set a "buy" rating for the company in a report on Wednesday. Finally, Truist Financial dropped their target price on Manhattan Associates from $310.00 to $285.00 and set a "buy" rating on the stock in a report on Wednesday. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $273.33.

Manhattan Associates Price Performance

NASDAQ:MANH traded down $72.26 during midday trading on Wednesday, reaching $222.84. 3,269,808 shares of the company traded hands, compared to its average volume of 522,502. The firm has a market capitalization of $13.61 billion, a price-to-earnings ratio of 63.31 and a beta of 1.52. The company has a fifty day moving average price of $283.17 and a 200 day moving average price of $272.29. Manhattan Associates has a twelve month low of $205.12 and a twelve month high of $312.60.

Insider Buying and Selling

In other Manhattan Associates news, SVP Bruce Richards sold 4,150 shares of the firm's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $289.73, for a total value of $1,202,379.50. Following the sale, the senior vice president now owns 22,086 shares of the company's stock, valued at $6,398,976.78. This trade represents a 15.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total value of $1,001,147.50. Following the completion of the transaction, the executive vice president now directly owns 42,812 shares in the company, valued at approximately $12,334,137.20. This represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Manhattan Associates

Several hedge funds have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA acquired a new position in shares of Manhattan Associates in the 3rd quarter valued at $234,249,000. JPMorgan Chase & Co. raised its position in Manhattan Associates by 213.7% in the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker's stock worth $284,169,000 after purchasing an additional 687,933 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in Manhattan Associates by 275.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 486,750 shares of the software maker's stock worth $131,539,000 after purchasing an additional 357,172 shares during the period. Swedbank AB boosted its holdings in Manhattan Associates by 1,840.3% during the fourth quarter. Swedbank AB now owns 369,019 shares of the software maker's stock valued at $99,724,000 after purchasing an additional 350,000 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of Manhattan Associates by 7.3% in the 3rd quarter. FMR LLC now owns 1,917,412 shares of the software maker's stock worth $539,521,000 after buying an additional 130,817 shares in the last quarter. Institutional investors own 98.45% of the company's stock.

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.

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