Truist Financial Lowers Manhattan Associates (NASDAQ:MANH) Price Target to $285.00

Manhattan Associates (NASDAQ:MANH - Get Free Report) had its price objective cut by Truist Financial from $310.00 to $285.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the software maker's stock. Truist Financial's price objective points to a potential upside of 31.10% from the stock's previous close.

MANH has been the subject of a number of other research reports. Robert W. Baird lifted their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an "outperform" rating in a report on Tuesday, October 22nd. Citigroup dropped their price objective on shares of Manhattan Associates from $306.00 to $303.00 and set a "neutral" rating on the stock in a report on Monday. StockNews.com lowered shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. Piper Sandler started coverage on Manhattan Associates in a research note on Monday, November 25th. They issued an "overweight" rating and a $326.00 price target on the stock. Finally, DA Davidson lifted their price objective on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $273.33.

Manhattan Associates Stock Performance

Shares of MANH stock traded down $5.45 during trading hours on Wednesday, hitting $217.39. The company had a trading volume of 584,786 shares, compared to its average volume of 524,126. Manhattan Associates has a 12 month low of $205.12 and a 12 month high of $312.60. The firm's fifty day moving average is $282.19 and its 200 day moving average is $271.95. The firm has a market capitalization of $13.28 billion, a price-to-earnings ratio of 61.90 and a beta of 1.52.

Insider Transactions at Manhattan Associates

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

Institutional Trading of Manhattan Associates

Institutional investors have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new stake in shares of Manhattan Associates during the 3rd quarter valued at about $34,000. Synergy Asset Management LLC acquired a new stake in Manhattan Associates in the 4th quarter valued at $35,000. Ashton Thomas Securities LLC bought a new position in shares of Manhattan Associates in the third quarter valued at $42,000. Carolina Wealth Advisors LLC acquired a new stake in shares of Manhattan Associates in the 3rd quarter worth about $50,000. Finally, Brooklyn Investment Group bought a new position in Manhattan Associates in the 3rd quarter valued at about $58,000. 98.45% of the stock is currently owned by institutional investors.

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.