Manhattan Associates (NASDAQ:MANH - Get Free Report) had its target price lifted by stock analysts at Truist Financial from $190.00 to $210.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the software maker's stock. Truist Financial's price target would suggest a potential upside of 11.78% from the stock's previous close.
A number of other equities research analysts have also recently weighed in on MANH. William Blair raised Manhattan Associates from a "market perform" rating to an "outperform" rating in a report on Thursday, February 13th. Robert W. Baird lifted their target price on Manhattan Associates from $197.00 to $212.00 and gave the company an "outperform" rating in a research note on Wednesday. Piper Sandler reduced their price target 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 set a $170.00 price target (down from $275.00) on shares of Manhattan Associates in a report on Thursday, April 10th. Finally, Citigroup reduced their price objective on shares of Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating for the company in a report on Friday, March 14th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Manhattan Associates presently has a consensus rating of "Moderate Buy" and a consensus price target of $210.14.
Get Our Latest Stock Analysis on Manhattan Associates
Manhattan Associates Stock Performance
Manhattan Associates stock opened at $187.86 on Thursday. The firm has a market capitalization of $11.41 billion, a P/E ratio of 53.50 and a beta of 1.13. The company has a 50-day simple moving average of $173.77 and a 200-day simple moving average of $222.37. Manhattan Associates has a one year low of $140.81 and a one year high of $312.60.
Insiders Place Their Bets
In other news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates stock in a transaction that occurred on Thursday, March 6th. The shares were 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 of the company's stock, valued at $17,298,758.29. The trade was a 2.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.88% of the stock is owned by company insiders.
Institutional Trading of Manhattan Associates
Several institutional investors and hedge funds have recently added to or reduced their stakes in MANH. Twin Tree Management LP bought a new position in shares of Manhattan Associates in the fourth quarter valued at $25,000. Whipplewood Advisors LLC acquired a new position in shares of Manhattan Associates in the 4th quarter worth $34,000. Central Pacific Bank Trust Division raised its position in shares of Manhattan Associates by 107.3% during the first quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock worth $34,000 after purchasing an additional 103 shares during the period. Synergy Asset Management LLC purchased a new stake in shares of Manhattan Associates during the fourth quarter valued at $35,000. Finally, Park Square Financial Group LLC acquired a new position in shares of Manhattan Associates in the 4th quarter valued at $38,000. 98.45% of the stock is owned by institutional investors and hedge funds.
About Manhattan Associates
(
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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.
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