Manhattan Associates, Inc. (NASDAQ:MANH - Get Free Report)'s share price reached a new 52-week low on Thursday . The company traded as low as $162.00 and last traded at $162.83, with a volume of 142771 shares changing hands. The stock had previously closed at $178.89.
Analysts Set New Price Targets
Several research firms have recently issued reports on MANH. DA Davidson raised Manhattan Associates to a "strong-buy" rating in a report on Monday, March 24th. William Blair upgraded Manhattan Associates from a "market perform" rating to an "outperform" rating in a research note on Thursday, February 13th. Piper Sandler decreased their target price on Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating for the company in a research note on Friday, March 14th. Citigroup lowered their price objective on shares of Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating on the stock in a research note on Friday, March 14th. Finally, Loop Capital cut their price target on Manhattan Associates from $310.00 to $275.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $243.78.
Get Our Latest Stock Analysis on Manhattan Associates
Manhattan Associates Price Performance
The firm has a 50 day simple moving average of $181.91 and a 200-day simple moving average of $247.14. The stock has a market capitalization of $8.80 billion, a price-to-earnings ratio of 41.00 and a beta of 1.36.
Insider Buying and Selling
In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $170.83, for a total transaction of $476,274.04. Following the sale, the chief financial officer now directly owns 101,263 shares of the company's stock, valued at approximately $17,298,758.29. This represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.72% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Manhattan Associates
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA raised its holdings in shares of Manhattan Associates by 101.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker's stock valued at $452,321,000 after buying an additional 841,276 shares during the last quarter. Norges Bank acquired a new stake in Manhattan Associates in the 4th quarter valued at about $201,377,000. JPMorgan Chase & Co. raised its stake in shares of 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 acquiring an additional 687,933 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Manhattan Associates by 43.2% during the fourth quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker's stock worth $517,917,000 after purchasing an additional 578,295 shares in the last quarter. Finally, Lazard Asset Management LLC grew its stake in shares of Manhattan Associates by 2,075.5% during the fourth quarter. Lazard Asset Management LLC now owns 399,066 shares of the software maker's stock valued at $107,842,000 after purchasing an additional 380,722 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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