Truist Financial Cuts Manhattan Associates (NASDAQ:MANH) Price Target to $185.00

Manhattan Associates (NASDAQ:MANH - Get Free Report) had its target price decreased by investment analysts at Truist Financial from $285.00 to $185.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the software maker's stock. Truist Financial's price target would suggest a potential upside of 13.10% from the stock's previous close.

A number of other equities analysts have also commented on the stock. William Blair raised shares of Manhattan Associates from a "market perform" rating to an "outperform" rating in a research report on Thursday, February 13th. StockNews.com lowered Manhattan Associates from a "buy" rating to a "hold" rating in a report on Monday, January 13th. Piper Sandler reduced their price objective on Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating for the company in a research report on Friday, March 14th. Loop Capital reissued a "hold" rating and issued a $170.00 target price (down previously from $275.00) on shares of Manhattan Associates in a research note on Thursday, April 10th. Finally, Robert W. Baird reduced their target price on shares of Manhattan Associates from $282.00 to $225.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 18th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $212.67.

Manhattan Associates Stock Up 1.5 %

Shares of MANH traded up $2.48 during trading hours on Monday, reaching $163.57. The company's stock had a trading volume of 643,555 shares, compared to its average volume of 562,760. The company has a 50 day moving average of $171.08 and a two-hundred day moving average of $238.61. The firm has a market cap of $9.93 billion, a price-to-earnings ratio of 46.60 and a beta of 1.36. Manhattan Associates has a 1-year low of $140.81 and a 1-year high of $312.60.

Insider Buying and Selling

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $170.83, for a total transaction of $476,274.04. Following the completion of the transaction, the chief financial officer now owns 101,263 shares in the company, valued at approximately $17,298,758.29. This represents a 2.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.72% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MANH. Vanguard Group Inc. boosted its holdings in Manhattan Associates by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 6,702,557 shares of the software maker's stock valued at $1,811,299,000 after purchasing an additional 50,538 shares during the period. FMR LLC lifted its holdings in Manhattan Associates by 16.2% during the 4th quarter. FMR LLC now owns 2,227,669 shares of the software maker's stock worth $602,005,000 after buying an additional 310,257 shares during the period. Franklin Resources Inc. boosted its stake in shares of Manhattan Associates by 43.2% in the 4th quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker's stock valued at $517,917,000 after purchasing an additional 578,295 shares during the last quarter. Invesco Ltd. increased its holdings in Manhattan Associates by 3.1% in the fourth quarter. Invesco Ltd. now owns 1,861,160 shares of the software maker's stock worth $502,960,000 after purchasing an additional 55,334 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Manhattan Associates by 101.1% during 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 purchasing an additional 841,276 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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.