Redburn Atlantic Downgrades Manhattan Associates (NASDAQ:MANH) to Neutral

Redburn Atlantic cut shares of Manhattan Associates (NASDAQ:MANH - Free Report) from a buy rating to a neutral rating in a research note issued to investors on Tuesday morning, Marketbeat reports. The brokerage currently has $200.00 target price on the software maker's stock, down from their previous target price of $270.00.

A number of other brokerages have also recently issued reports on MANH. Truist Financial boosted their price objective on shares of Manhattan Associates from $190.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Robert W. Baird set a $212.00 price target on shares of Manhattan Associates and gave the company an "outperform" rating in a report on Wednesday, May 21st. William Blair raised Manhattan Associates from a "market perform" rating to an "outperform" rating in a research note on Thursday, February 13th. Citigroup reduced their target price on Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. Finally, DA Davidson increased their price target on Manhattan Associates from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Manhattan Associates presently has an average rating of "Moderate Buy" and an average target price of $208.88.

Manhattan Associates Price Performance

Shares of Manhattan Associates stock traded down $3.57 during trading on Tuesday, hitting $189.31. 566,913 shares of the company were exchanged, compared to its average volume of 629,221. The firm has a market capitalization of $11.49 billion, a P/E ratio of 53.93 and a beta of 1.08. The firm's fifty day moving average price is $180.56 and its 200 day moving average price is $211.91. Manhattan Associates has a 1-year low of $140.81 and a 1-year high of $312.60.

Institutional Trading of Manhattan Associates

Several hedge funds and other institutional investors have recently modified their holdings of MANH. First Hawaiian Bank boosted its position in shares of Manhattan Associates by 80.6% during the first quarter. First Hawaiian Bank now owns 1,889 shares of the software maker's stock worth $327,000 after buying an additional 843 shares during the period. Inspire Investing LLC lifted its stake in Manhattan Associates by 243.7% in the 1st quarter. Inspire Investing LLC now owns 22,948 shares of the software maker's stock valued at $3,971,000 after acquiring an additional 16,271 shares in the last quarter. Strs Ohio acquired a new position in Manhattan Associates during the 1st quarter worth approximately $9,171,000. Intech Investment Management LLC boosted its position in Manhattan Associates by 27.1% during the 1st quarter. Intech Investment Management LLC now owns 41,571 shares of the software maker's stock worth $7,193,000 after acquiring an additional 8,860 shares during the last quarter. Finally, Focus Partners Wealth grew its stake in shares of Manhattan Associates by 181.4% during the 1st quarter. Focus Partners Wealth now owns 2,400 shares of the software maker's stock worth $415,000 after acquiring an additional 1,547 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

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.