Manhattan Associates (NASDAQ:MANH) Upgraded at DA Davidson

Manhattan Associates (NASDAQ:MANH) was upgraded by analysts at DA Davidson to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other research analysts also recently issued reports on the company. Robert W. Baird cut their price target on Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating on the stock in a report on Tuesday, March 18th. William Blair raised shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 13th. Raymond James reduced their price objective on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. Loop Capital lowered their target price on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Finally, Piper Sandler reduced their price target on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, March 14th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Manhattan Associates currently has an average rating of “Moderate Buy” and a consensus target price of $243.78.

Manhattan Associates Stock Performance

NASDAQ MANH opened at $177.97 on Monday. Manhattan Associates has a fifty-two week low of $163.10 and a fifty-two week high of $312.60. The business’s fifty day moving average is $203.99 and its 200 day moving average is $253.88. The company has a market capitalization of $10.88 billion, a PE ratio of 50.70 and a beta of 1.47.

Insider Buying and Selling

In other news, CFO Dennis B. Story sold 2,788 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $170.83, for a total value of $476,274.04. Following the completion of the sale, the chief financial officer now directly owns 101,263 shares of the company’s stock, valued at $17,298,758.29. This represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.72% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Manhattan Associates

Hedge funds have recently bought and sold shares of the company. Quest Partners LLC increased its position in shares of Manhattan Associates by 74,900.0% during the 3rd quarter. Quest Partners LLC now owns 750 shares of the software maker’s stock valued at $211,000 after purchasing an additional 749 shares during the last quarter. Pathstone Holdings LLC boosted its stake in Manhattan Associates by 2.0% in the 3rd quarter. Pathstone Holdings LLC now owns 9,739 shares of the software maker’s stock worth $2,740,000 after purchasing an additional 192 shares during the period. PNC Financial Services Group Inc. grew its holdings in Manhattan Associates by 50.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,751 shares of the software maker’s stock valued at $1,337,000 after buying an additional 1,591 shares in the last quarter. Advisors Asset Management Inc. bought a new stake in shares of Manhattan Associates during the third quarter valued at about $747,000. Finally, Raymond James Trust N.A. lifted its holdings in shares of Manhattan Associates by 10.0% in the third quarter. Raymond James Trust N.A. now owns 2,239 shares of the software maker’s stock worth $630,000 after buying an additional 204 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other 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.