Manhattan Associates (NASDAQ:MANH) Earns Overweight Rating from Piper Sandler

Manhattan Associates (NASDAQ:MANH - Get Free Report)'s stock had its "overweight" rating restated by Piper Sandler in a report issued on Wednesday,Benzinga reports. They presently have a $268.00 price objective on the software maker's stock, down from their prior price objective of $326.00. Piper Sandler's target price points to a potential upside of 25.15% from the company's previous close.

A number of other brokerages also recently commented on MANH. StockNews.com downgraded shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Monday, January 13th. Raymond James boosted their price objective on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Citigroup dropped their price objective on Manhattan Associates from $306.00 to $303.00 and set a "neutral" rating on the stock in a research note on Monday. DA Davidson increased their target price on Manhattan Associates from $285.00 to $315.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Finally, Robert W. Baird raised their target price on Manhattan Associates from $263.00 to $304.00 and gave the company an "outperform" rating in a report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Manhattan Associates currently has a consensus rating of "Moderate Buy" and an average target price of $273.33.

Manhattan Associates Stock Performance

Shares of NASDAQ:MANH traded down $8.70 during mid-day trading on Wednesday, hitting $214.14. The stock had a trading volume of 1,472,196 shares, compared to its average volume of 572,846. The company has a market cap of $13.08 billion, a PE ratio of 60.84 and a beta of 1.52. The company's 50 day moving average is $282.19 and its 200-day moving average is $271.95. Manhattan Associates has a 12-month low of $205.12 and a 12-month high of $312.60.

Insider Activity

In related news, SVP Bruce Richards sold 4,150 shares of the firm's stock in a transaction on Friday, November 29th. The shares were 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 directly owns 22,086 shares in the company, valued at $6,398,976.78. This trade represents a 15.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP James Stewart Gantt sold 3,475 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $12,334,137.20. This represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company's stock.

Institutional Investors Weigh In On Manhattan Associates

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Capital Performance Advisors LLP bought a new stake in shares of Manhattan Associates during the 3rd quarter worth approximately $34,000. Synergy Asset Management LLC bought a new stake in Manhattan Associates during the fourth quarter worth $35,000. Ashton Thomas Securities LLC acquired a new stake in shares of Manhattan Associates in the 3rd quarter valued at $42,000. Carolina Wealth Advisors LLC bought a new position in shares of Manhattan Associates in the 3rd quarter valued at $50,000. Finally, Brooklyn Investment Group acquired a new position in shares of Manhattan Associates during the 3rd quarter worth $58,000. 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.