Manhattan Associates (NASDAQ:MANH) Price Target Lowered to $270.00 at Raymond James

Manhattan Associates (NASDAQ:MANH - Get Free Report) had its price objective decreased by stock analysts at Raymond James from $305.00 to $270.00 in a report released on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the software maker's stock. Raymond James' price objective points to a potential upside of 23.00% from the company's current price.

MANH has been the subject of several other research reports. StockNews.com downgraded shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. Truist Financial decreased their price objective on Manhattan Associates from $310.00 to $285.00 and set a "buy" rating for the company in a research note on Wednesday. DA Davidson lifted their price target on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Robert W. Baird upped their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an "outperform" rating in a research note on Tuesday, October 22nd. Finally, Citigroup cut their price target on shares of Manhattan Associates from $306.00 to $303.00 and set a "neutral" rating on the stock in a report on Monday. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $279.44.

Manhattan Associates Price Performance

Shares of NASDAQ MANH traded down $75.59 during midday trading on Wednesday, reaching $219.51. 1,512,375 shares of the stock traded hands, compared to its average volume of 416,989. The company's 50 day moving average is $283.17 and its 200 day moving average is $272.29. Manhattan Associates has a one year low of $205.12 and a one year high of $312.60. The stock has a market capitalization of $13.41 billion, a PE ratio of 62.62 and a beta of 1.52.

Insider Buying and Selling

In other Manhattan Associates news, EVP James Stewart Gantt sold 3,475 shares of the company's stock in a transaction 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 sale, the executive vice president now directly 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Bruce Richards sold 4,150 shares of the firm's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the sale, the senior vice president now owns 22,086 shares of the company's stock, valued at approximately $6,398,976.78. The trade was a 15.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Institutional Investors Weigh In On Manhattan Associates

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MANH. Oak Thistle LLC acquired a new stake in shares of Manhattan Associates during the fourth quarter worth about $1,326,000. GAMMA Investing LLC increased its stake in Manhattan Associates by 47.5% in the third quarter. GAMMA Investing LLC now owns 1,186 shares of the software maker's stock valued at $334,000 after purchasing an additional 382 shares during the last quarter. Mediolanum International Funds Ltd raised its stake in Manhattan Associates by 602.0% during the 3rd quarter. Mediolanum International Funds Ltd now owns 20,042 shares of the software maker's stock worth $5,607,000 after acquiring an additional 17,187 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Manhattan Associates by 213.7% during 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. Finally, Chartwell Investment Partners LLC lifted its stake in Manhattan Associates by 31.1% in the third quarter. Chartwell Investment Partners LLC now owns 21,557 shares of the software maker's stock valued at $6,065,000 after buying an additional 5,119 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.