Manhattan Associates, Inc. (NASDAQ:MANH - Get Free Report) shares saw unusually-strong trading volume on Tuesday . Approximately 1,159,917 shares changed hands during trading, an increase of 58% from the previous session's volume of 733,117 shares.The stock last traded at $172.33 and had previously closed at $177.70.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on MANH shares. William Blair upgraded Manhattan Associates from a "market perform" rating to an "outperform" rating in a research report on Thursday. Loop Capital decreased their target price on Manhattan Associates from $310.00 to $275.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Robert W. Baird lifted their target price on Manhattan Associates from $263.00 to $304.00 and gave the stock an "outperform" rating in a report on Tuesday, October 22nd. Truist Financial decreased 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, January 29th. Finally, StockNews.com cut Manhattan Associates from a "buy" rating to a "hold" rating in a report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $273.33.
Read Our Latest Research Report on MANH
Manhattan Associates Stock Up 1.5 %
The firm has a market cap of $11.63 billion, a price-to-earnings ratio of 54.25 and a beta of 1.50. The company has a 50-day moving average price of $259.20 and a 200 day moving average price of $268.19.
Insider Activity at Manhattan Associates
In related news, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the sale, the executive vice president now owns 42,812 shares of the company's stock, valued at approximately $12,334,137.20. This trade represents a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 sale, the senior vice president now directly 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 position. The disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.
Institutional Trading of Manhattan Associates
Institutional investors and hedge funds have recently made changes to their positions in the stock. Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of Manhattan Associates in the fourth quarter worth about $3,890,000. GDS Wealth Management lifted its position in shares of Manhattan Associates by 281.4% in the fourth quarter. GDS Wealth Management now owns 6,347 shares of the software maker's stock worth $1,715,000 after buying an additional 4,683 shares during the last quarter. Oak Thistle LLC acquired a new stake in shares of Manhattan Associates in the fourth quarter worth about $1,326,000. Smith Group Asset Management LLC lifted its position in shares of Manhattan Associates by 1.8% in the fourth quarter. Smith Group Asset Management LLC now owns 93,232 shares of the software maker's stock worth $25,195,000 after buying an additional 1,641 shares during the last quarter. Finally, Dock Street Asset Management Inc. lifted its position in shares of Manhattan Associates by 6.1% in the fourth quarter. Dock Street Asset Management Inc. now owns 72,031 shares of the software maker's stock worth $19,466,000 after buying an additional 4,137 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.
About Manhattan Associates
(
Get Free Report)
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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