Manhattan Associates (NASDAQ:MANH) Given New $285.00 Price Target at Truist Financial

Manhattan Associates (NASDAQ:MANH) had its target price lowered by Truist Financial from $310.00 to $285.00 in a report released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the software maker’s stock.

Several other research firms have also weighed in on MANH. Raymond James raised their price objective on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Citigroup dropped their price target on Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating for the company in a report on Monday. DA Davidson boosted 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. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Piper Sandler started coverage on shares of Manhattan Associates in a report on Monday, November 25th. They set an “overweight” rating and a $326.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $273.33.

Manhattan Associates Stock Performance

MANH opened at $222.84 on Wednesday. The firm has a market cap of $13.61 billion, a price-to-earnings ratio of 63.31 and a beta of 1.52. The firm’s 50-day simple moving average is $282.19 and its 200-day simple moving average is $271.95. Manhattan Associates has a twelve month low of $205.12 and a twelve month high of $312.60.

Insider Activity

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

Institutional Trading of Manhattan Associates

A number of hedge funds have recently modified their holdings of MANH. Fidelis Capital Partners LLC raised its holdings in Manhattan Associates by 3.2% in the third quarter. Fidelis Capital Partners LLC now owns 1,279 shares of the software maker’s stock worth $347,000 after purchasing an additional 40 shares during the period. Ascent Group LLC grew its stake in Manhattan Associates by 4.8% in the third quarter. Ascent Group LLC now owns 896 shares of the software maker’s stock valued at $252,000 after acquiring an additional 41 shares during the period. UMB Bank n.a. increased its holdings in shares of Manhattan Associates by 16.7% in the third quarter. UMB Bank n.a. now owns 301 shares of the software maker’s stock worth $85,000 after acquiring an additional 43 shares in the last quarter. Huntington National Bank raised its position in shares of Manhattan Associates by 5.9% during the third quarter. Huntington National Bank now owns 879 shares of the software maker’s stock worth $247,000 after purchasing an additional 49 shares during the period. Finally, CIBC Asset Management Inc lifted its holdings in shares of Manhattan Associates by 3.3% during the 3rd quarter. CIBC Asset Management Inc now owns 1,798 shares of the software maker’s stock valued at $506,000 after purchasing an additional 58 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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.