Morgan Stanley Begins Coverage on Manhattan Associates (NASDAQ:MANH)

Equities researchers at Morgan Stanley initiated coverage on shares of Manhattan Associates (NASDAQ:MANH - Get Free Report) in a report issued on Monday, Marketbeat Ratings reports. The brokerage set an "underweight" rating and a $190.00 price target on the software maker's stock. Morgan Stanley's target price indicates a potential downside of 3.97% from the stock's current price.

A number of other research analysts have also recently commented on the company. Redburn Atlantic cut Manhattan Associates from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $270.00 to $200.00 in a research note on Tuesday, June 10th. Truist Financial increased their target price on Manhattan Associates from $190.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. DA Davidson lifted their target price on Manhattan Associates from $200.00 to $225.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. Robert W. Baird set a $212.00 price target on shares of Manhattan Associates and gave the stock an "outperform" rating in a research note on Wednesday, May 21st. Finally, Loop Capital reissued a "hold" rating and issued a $170.00 price objective (down previously from $275.00) on shares of Manhattan Associates in a research note on Thursday, April 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, Manhattan Associates currently has a consensus rating of "Hold" and an average target price of $206.78.

Manhattan Associates Stock Up 0.9%

Shares of MANH traded up $1.69 during trading on Monday, reaching $197.85. 585,649 shares of the company traded hands, compared to its average volume of 837,673. The stock has a 50-day simple moving average of $192.02 and a 200-day simple moving average of $197.34. The stock has a market cap of $12.01 billion, a PE ratio of 56.53 and a beta of 1.08. Manhattan Associates has a twelve month low of $140.81 and a twelve month high of $312.60.

Institutional Investors Weigh In On Manhattan Associates

Large investors have recently modified their holdings of the company. Twin Tree Management LP acquired a new position in shares of Manhattan Associates during the fourth quarter worth $25,000. Park Square Financial Group LLC acquired a new position in shares of Manhattan Associates during the 4th quarter worth about $38,000. Transce3nd LLC purchased a new position in shares of Manhattan Associates in the 4th quarter valued at about $41,000. Central Pacific Bank Trust Division raised its position in shares of Manhattan Associates by 107.3% during the 1st quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock worth $34,000 after acquiring an additional 103 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Manhattan Associates by 117.0% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 230 shares of the software maker's stock worth $45,000 after acquiring an additional 124 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

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.