Manhattan Associates (NASDAQ:MANH) Given New $303.00 Price Target at Citigroup

Manhattan Associates (NASDAQ:MANH) had its price objective reduced by Citigroup from $306.00 to $303.00 in a research note released on Monday,Benzinga reports. Citigroup currently has a neutral rating on the software maker’s stock.

Other analysts have also recently issued research reports about the stock. Truist Financial lifted their price objective on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Raymond James boosted their price target on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. DA Davidson raised their price objective on Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Piper Sandler assumed coverage on Manhattan Associates in a research report on Monday, November 25th. They set an “overweight” rating and a $326.00 target price for the company. Finally, StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $273.33.

Manhattan Associates Price Performance

MANH stock opened at $222.84 on Monday. Manhattan Associates has a fifty-two week low of $205.12 and a fifty-two week high of $312.60. The stock has a market capitalization of $13.61 billion, a price-to-earnings ratio of 63.31 and a beta of 1.52. The business’s fifty day moving average price is $282.19 and its two-hundred day moving average price is $271.95.

Insider Activity at Manhattan Associates

In related news, EVP James Stewart Gantt sold 3,475 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the sale, the executive vice president now owns 42,812 shares in the company, valued at $12,334,137.20. The trade was a 7.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Bruce Richards sold 4,150 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $289.73, for a total value of $1,202,379.50. Following the completion of the transaction, the senior vice president now owns 22,086 shares of the company’s stock, valued at $6,398,976.78. This represents a 15.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA bought a new stake in shares of Manhattan Associates in the third quarter worth $234,249,000. JPMorgan Chase & Co. grew its position in shares of Manhattan Associates by 213.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock valued at $284,169,000 after buying an additional 687,933 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Manhattan Associates by 275.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 486,750 shares of the software maker’s stock valued at $131,539,000 after buying an additional 357,172 shares during the last quarter. Swedbank AB increased its stake in shares of Manhattan Associates by 1,840.3% in the fourth quarter. Swedbank AB now owns 369,019 shares of the software maker’s stock valued at $99,724,000 after buying an additional 350,000 shares during the period. Finally, FMR LLC raised its position in shares of Manhattan Associates by 7.3% during the third quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock worth $539,521,000 after acquiring an additional 130,817 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

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.