Robert W. Baird Issues Pessimistic Forecast for Manhattan Associates (NASDAQ:MANH) Stock Price

Manhattan Associates (NASDAQ:MANH) had its price objective reduced by stock analysts at Robert W. Baird from $282.00 to $225.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the software maker’s stock. Robert W. Baird’s price objective would suggest a potential upside of 28.95% from the stock’s previous close.

Several other analysts have also weighed in on the company. Citigroup reduced their price objective on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. DA Davidson dropped their target price on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Loop Capital dropped their target price on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. William Blair upgraded Manhattan Associates from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 13th. Finally, Raymond James dropped their target price on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $243.78.

Manhattan Associates Stock Up 1.0 %

NASDAQ:MANH opened at $174.49 on Tuesday. The stock’s 50-day simple moving average is $209.62 and its 200 day simple moving average is $255.67. The firm has a market capitalization of $10.67 billion, a PE ratio of 49.71 and a beta of 1.47. Manhattan Associates has a twelve month low of $163.10 and a twelve month high of $312.60.

Insiders Place Their Bets

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the firm’s 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 owns 101,263 shares of the company’s stock, valued at approximately $17,298,758.29. This trade represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Twin Tree Management LP purchased a new position in Manhattan Associates during the fourth quarter worth about $25,000. Whipplewood Advisors LLC purchased a new position in Manhattan Associates during the fourth quarter worth about $34,000. Synergy Asset Management LLC purchased a new position in Manhattan Associates during the fourth quarter worth about $35,000. Park Square Financial Group LLC purchased a new position in Manhattan Associates during the fourth quarter worth about $38,000. Finally, Transce3nd LLC purchased a new position in Manhattan Associates during the fourth quarter worth about $41,000. Hedge funds and other 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.