Manhattan Associates (NASDAQ:MANH) Given New $270.00 Price Target at Raymond James

Manhattan Associates (NASDAQ:MANH) had its target price lowered by Raymond James from $305.00 to $270.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the software maker’s stock. Raymond James’ price target would suggest a potential upside of 23.00% from the company’s previous close.

Several other brokerages also recently issued reports on MANH. Piper Sandler restated an “overweight” rating and set a $268.00 price objective (down from $326.00) on shares of Manhattan Associates in a research report on Wednesday. DA Davidson boosted their target price on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Robert W. Baird upped their price target on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Citigroup dropped their target price on Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating on the stock in a report on Monday. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Manhattan Associates has a consensus rating of “Moderate Buy” and a consensus target price of $279.44.

Manhattan Associates Price Performance

MANH traded down $75.59 during trading on Wednesday, reaching $219.51. 1,512,375 shares of the stock were exchanged, compared to its average volume of 416,989. The company has a market capitalization of $13.41 billion, a price-to-earnings ratio of 62.62 and a beta of 1.52. Manhattan Associates has a 1 year low of $205.12 and a 1 year high of $312.60. The business’s 50 day moving average price is $283.17 and its two-hundred day moving average price is $272.29.

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 3,475 shares of the stock in a transaction on Tuesday, November 26th. The shares were 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 directly owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. This represents a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Bruce Richards sold 4,150 shares of Manhattan Associates stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the completion of the transaction, the senior vice president now directly owns 22,086 shares of the company’s stock, valued at $6,398,976.78. This trade represents a 15.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Manhattan Associates

Large investors have recently bought and sold shares of the business. Oak Thistle LLC bought a new position in shares of Manhattan Associates during the fourth quarter valued at approximately $1,326,000. GAMMA Investing LLC boosted its position in Manhattan Associates by 47.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,186 shares of the software maker’s stock valued at $334,000 after purchasing an additional 382 shares during the period. Mediolanum International Funds Ltd grew its stake in Manhattan Associates by 602.0% during the 3rd quarter. Mediolanum International Funds Ltd now owns 20,042 shares of the software maker’s stock worth $5,607,000 after buying an additional 17,187 shares during the last quarter. JPMorgan Chase & Co. increased its position in Manhattan Associates by 213.7% in the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock worth $284,169,000 after buying an additional 687,933 shares during the period. Finally, Chartwell Investment Partners LLC lifted its stake in Manhattan Associates by 31.1% in the third quarter. Chartwell Investment Partners LLC now owns 21,557 shares of the software maker’s stock valued at $6,065,000 after buying an additional 5,119 shares during the last quarter. Institutional investors 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.