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

Redburn Atlantic downgraded shares of Manhattan Associates (NASDAQ:MANH - Free Report) from a buy rating to a neutral rating in a research report released on Tuesday morning, MarketBeat.com reports. The firm currently has $200.00 price objective on the software maker's stock, down from their previous price objective of $270.00.

A number of other research analysts have also weighed in on the stock. Robert W. Baird set a $212.00 price target on shares of Manhattan Associates and gave the company an "outperform" rating in a research note on Wednesday, May 21st. Loop Capital restated a "hold" rating and issued a $170.00 target price (down previously from $275.00) on shares of Manhattan Associates in a research report on Thursday, April 10th. William Blair raised Manhattan Associates from a "market perform" rating to an "outperform" rating in a research note on Thursday, February 13th. Citigroup decreased their price objective 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, Piper Sandler dropped their target price on shares of Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, March 14th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $208.88.

Manhattan Associates Stock Down 0.2%

Shares of NASDAQ:MANH traded down $0.37 during trading on Tuesday, reaching $193.28. 838,616 shares of the company's stock traded hands, compared to its average volume of 624,370. Manhattan Associates has a fifty-two week low of $140.81 and a fifty-two week high of $312.60. The company has a 50-day simple moving average of $177.35 and a 200-day simple moving average of $213.58. The firm has a market cap of $11.73 billion, a PE ratio of 55.07 and a beta of 1.08.

Institutional Investors Weigh In On Manhattan Associates

Hedge funds have recently modified their holdings of the company. Twin Tree Management LP acquired a new position in Manhattan Associates in the 4th quarter valued at about $25,000. Whipplewood Advisors LLC acquired a new position in Manhattan Associates in the fourth quarter valued at approximately $34,000. Central Pacific Bank Trust Division grew its position in Manhattan Associates by 107.3% in the first 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 during the period. Park Square Financial Group LLC acquired a new stake in Manhattan Associates during the fourth quarter worth $38,000. Finally, Transce3nd LLC purchased a new stake in Manhattan Associates in the fourth quarter valued at $41,000. Hedge funds and other institutional investors 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.