Manhattan Associates (NASDAQ:MANH) Hits New 12-Month Low – Time to Sell?

Manhattan Associates, Inc. (NASDAQ:MANH) shares reached a new 52-week low on Tuesday . The company traded as low as $169.59 and last traded at $170.14, with a volume of 46673 shares traded. The stock had previously closed at $173.09.

Analyst Upgrades and Downgrades

MANH has been the topic of several recent research reports. Truist Financial dropped their price target on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. William Blair raised Manhattan Associates from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 13th. Piper Sandler reissued an “overweight” rating and issued a $268.00 price target (down from $326.00) on shares of Manhattan Associates in a research report on Wednesday, January 29th. DA Davidson dropped their price objective on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Manhattan Associates has an average rating of “Moderate Buy” and a consensus target price of $273.33.

Manhattan Associates Price Performance

The firm has a market capitalization of $10.54 billion, a P/E ratio of 49.12 and a beta of 1.50. The firm has a fifty day simple moving average of $234.45 and a two-hundred day simple moving average of $263.27.

Institutional Investors Weigh In On Manhattan Associates

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Private Advisor Group LLC boosted its holdings in Manhattan Associates by 8.9% in the 3rd quarter. Private Advisor Group LLC now owns 1,376 shares of the software maker’s stock worth $387,000 after buying an additional 113 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Manhattan Associates by 21.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 2,535 shares of the software maker’s stock worth $713,000 after acquiring an additional 455 shares during the period. Farther Finance Advisors LLC grew its position in shares of Manhattan Associates by 183.9% in the third quarter. Farther Finance Advisors LLC now owns 1,777 shares of the software maker’s stock valued at $500,000 after purchasing an additional 1,151 shares in the last quarter. Chicago Partners Investment Group LLC bought a new stake in shares of Manhattan Associates during the 3rd quarter valued at $215,000. Finally, Van ECK Associates Corp lifted its holdings in Manhattan Associates by 11.0% during the 3rd quarter. Van ECK Associates Corp now owns 17,314 shares of the software maker’s stock worth $4,698,000 after purchasing an additional 1,717 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors.

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.