Manhattan Associates, Inc. (NASDAQ:MANH) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Manhattan Associates, Inc. (NASDAQ:MANH - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $205.57.

MANH has been the subject of several analyst reports. Piper Sandler dropped 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. Raymond James lowered their target price on Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating for the company in a research note on Wednesday, January 29th. DA Davidson increased their target price on Manhattan Associates from $195.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. William Blair raised Manhattan Associates from a "market perform" rating to an "outperform" rating in a report on Thursday, February 13th. Finally, Truist Financial increased their price target on Manhattan Associates from $180.00 to $190.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd.

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $170.83, for a total value of $476,274.04. Following the transaction, the chief financial officer now owns 101,263 shares in the company, valued at $17,298,758.29. The trade was a 2.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.88% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its stake in shares of Manhattan Associates by 101.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker's stock worth $452,321,000 after acquiring an additional 841,276 shares in the last quarter. Norges Bank bought a new stake in shares of Manhattan Associates during the 4th quarter worth about $201,377,000. JPMorgan Chase & Co. boosted its stake in Manhattan Associates by 213.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker's stock valued at $284,169,000 after purchasing an additional 687,933 shares during the period. Franklin Resources Inc. boosted its stake in Manhattan Associates by 43.2% during 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 period. Finally, Lazard Asset Management LLC boosted its stake in Manhattan Associates by 2,075.5% during the 4th 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 period. Hedge funds and other institutional investors own 98.45% of the company's stock.

Manhattan Associates Trading Down 0.7%

Shares of NASDAQ MANH traded down $1.34 during trading on Monday, reaching $194.20. The company had a trading volume of 887,319 shares, compared to its average volume of 581,493. The stock has a market capitalization of $11.79 billion, a PE ratio of 55.33 and a beta of 1.13. The stock has a 50-day moving average price of $170.81 and a two-hundred day moving average price of $225.24. Manhattan Associates has a twelve month low of $140.81 and a twelve month high of $312.60.

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.