DA Davidson Lowers Manhattan Associates (NASDAQ:MANH) Price Target to $270.00

Manhattan Associates (NASDAQ:MANH) had its price objective lowered by DA Davidson from $315.00 to $270.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. DA Davidson’s price objective would indicate a potential upside of 26.09% from the company’s previous close.

Several other equities research analysts have also commented on the stock. Raymond James reduced their price target on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a report on Wednesday. Piper Sandler restated an “overweight” rating and issued a $268.00 price target (down previously from $326.00) on shares of Manhattan Associates in a report on Wednesday. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Truist Financial reduced their price target on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Citigroup reduced their price target on shares of Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating for the company in a report on Monday. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Manhattan Associates presently has an average rating of “Moderate Buy” and a consensus target price of $273.33.

Manhattan Associates Price Performance

Shares of MANH opened at $214.14 on Wednesday. Manhattan Associates has a 1-year low of $205.12 and a 1-year high of $312.60. The company has a 50-day moving average of $281.04 and a 200 day moving average of $271.55. The firm has a market capitalization of $13.08 billion, a price-to-earnings ratio of 60.84 and a beta of 1.52.

Insider Buying and Selling

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

Institutional Trading of Manhattan Associates

Large investors have recently bought and sold shares of the stock. Capital Performance Advisors LLP purchased a new stake in Manhattan Associates during the 3rd quarter worth approximately $34,000. Synergy Asset Management LLC purchased a new stake in Manhattan Associates during the 4th quarter worth approximately $35,000. Ashton Thomas Securities LLC purchased a new stake in Manhattan Associates during the 3rd quarter worth approximately $42,000. Carolina Wealth Advisors LLC purchased a new stake in Manhattan Associates during the 3rd quarter worth approximately $50,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Manhattan Associates in the 3rd quarter valued at $58,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

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.