Manhattan Associates (NASDAQ:MANH) Stock Rating Upgraded by William Blair

William Blair upgraded shares of Manhattan Associates (NASDAQ:MANH - Free Report) from a market perform rating to an outperform rating in a research report sent to investors on Thursday morning, Marketbeat.com reports.

Several other equities research analysts have also recently issued reports on the company. Piper Sandler reiterated an "overweight" rating and issued a $268.00 price objective (down from $326.00) on shares of Manhattan Associates in a report on Wednesday, January 29th. Citigroup decreased their target price on Manhattan Associates from $306.00 to $303.00 and set a "neutral" rating on the stock in a research report on Monday, January 27th. Raymond James dropped their price target on Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating for the company in a research report on Wednesday, January 29th. Truist Financial decreased their price objective 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, 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 research note on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $273.33.

Manhattan Associates Trading Up 1.5 %

NASDAQ:MANH traded up $2.83 during trading hours on Thursday, reaching $190.41. 857,847 shares of the company were exchanged, compared to its average volume of 693,494. The firm has a market cap of $11.63 billion, a PE ratio of 54.25 and a beta of 1.50. Manhattan Associates has a twelve month low of $169.94 and a twelve month high of $312.60. The stock's 50-day moving average is $259.20 and its 200-day moving average is $268.38.

Insider Activity at Manhattan Associates

In related news, EVP James Stewart Gantt sold 3,475 shares of the company's 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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Bruce Richards sold 4,150 shares of the firm's stock in a transaction 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 directly owns 22,086 shares of the company's stock, valued at approximately $6,398,976.78. This trade represents a 15.82 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Manhattan Associates

A number of hedge funds have recently made changes to their positions in MANH. Twin Tree Management LP purchased a new stake in Manhattan Associates in the fourth quarter valued at approximately $25,000. Capital Performance Advisors LLP acquired a new stake in shares of Manhattan Associates in the third quarter valued at $34,000. Whipplewood Advisors LLC purchased a new stake in shares of Manhattan Associates in the 4th quarter valued at $34,000. Synergy Asset Management LLC acquired a new position in Manhattan Associates during the 4th quarter worth about $35,000. Finally, Transce3nd LLC purchased a new position in Manhattan Associates during the 4th quarter valued at about $41,000. Hedge funds and other 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.