Manhattan Associates (NASDAQ:MANH) Given New $200.00 Price Target at Piper Sandler

Manhattan Associates (NASDAQ:MANH - Get Free Report) had its target price lowered by research analysts at Piper Sandler from $268.00 to $200.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the software maker's stock. Piper Sandler's price target suggests a potential upside of 15.75% from the stock's previous close.

A number of other research analysts also recently commented on MANH. Loop Capital lowered their target price on Manhattan Associates from $310.00 to $275.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. StockNews.com cut Manhattan Associates from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. Citigroup cut their price objective on shares of Manhattan Associates from $306.00 to $303.00 and set a "neutral" rating on the stock in a research report on Monday, January 27th. Truist Financial reduced their target price on shares of Manhattan Associates from $310.00 to $285.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Finally, Raymond James dropped their price target on shares of Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating on the stock in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $243.78.

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Manhattan Associates Stock Down 1.6 %

Shares of NASDAQ:MANH traded down $2.87 during trading on Friday, reaching $172.78. 628,467 shares of the company traded hands, compared to its average volume of 500,909. The firm has a fifty day simple moving average of $213.49 and a 200 day simple moving average of $256.88. Manhattan Associates has a 1-year low of $163.10 and a 1-year high of $312.60. The firm has a market cap of $10.56 billion, a P/E ratio of 49.23 and a beta of 1.47.

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 completion of the sale, the chief financial officer now directly owns 101,263 shares in the company, valued at $17,298,758.29. This represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.72% of the stock is owned by insiders.

Institutional Trading of Manhattan Associates

Several hedge funds have recently added to or reduced their stakes in the business. Twin Tree Management LP acquired a new position in shares of Manhattan Associates during the fourth quarter worth approximately $25,000. Whipplewood Advisors LLC bought a new position in Manhattan Associates during the fourth quarter worth $34,000. Synergy Asset Management LLC bought a new stake in Manhattan Associates in the 4th quarter valued at $35,000. Park Square Financial Group LLC bought a new stake in Manhattan Associates in the 4th quarter valued at $38,000. Finally, Transce3nd LLC acquired a new stake in Manhattan Associates in the 4th quarter worth $41,000. Institutional investors 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.