Manhattan Associates (NASDAQ:MANH) Upgraded at DA Davidson

DA Davidson upgraded shares of Manhattan Associates (NASDAQ:MANH) to a strong-buy rating in a report published on Monday,Zacks.com reports. DA Davidson also issued estimates for Manhattan Associates’ Q1 2025 earnings at $0.66 EPS and FY2025 earnings at $3.63 EPS.

Several other brokerages have also issued reports on MANH. Citigroup lowered their target price 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. Truist Financial lowered their price objective on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Robert W. Baird lowered their price target on shares of Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 18th. Finally, Raymond James cut their price objective on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $243.78.

Manhattan Associates Stock Performance

Shares of MANH stock opened at $175.62 on Monday. Manhattan Associates has a 52 week low of $163.10 and a 52 week high of $312.60. The firm’s 50-day simple moving average is $200.18 and its two-hundred day simple moving average is $252.84. The firm has a market cap of $10.73 billion, a price-to-earnings ratio of 50.03 and a beta of 1.47.

Insider Activity

In related news, CFO Dennis B. Story sold 2,788 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $170.83, for a total value of $476,274.04. Following the sale, the chief financial officer now directly owns 101,263 shares of the company’s stock, valued at $17,298,758.29. This trade 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 the SEC website. Company insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Manhattan Associates

Hedge funds have recently added to or reduced their stakes in the company. Quest Partners LLC lifted its position in Manhattan Associates by 74,900.0% in the 3rd quarter. Quest Partners LLC now owns 750 shares of the software maker’s stock worth $211,000 after buying an additional 749 shares during the last quarter. Pathstone Holdings LLC lifted its holdings in shares of 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 acquiring an additional 192 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Manhattan Associates by 50.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 4,751 shares of the software maker’s stock worth $1,337,000 after acquiring an additional 1,591 shares during the last quarter. Advisors Asset Management Inc. purchased a new stake in shares of Manhattan Associates in the 3rd quarter valued at $747,000. Finally, Raymond James Trust N.A. grew its holdings in shares of Manhattan Associates by 10.0% during the 3rd quarter. Raymond James Trust N.A. now owns 2,239 shares of the software maker’s stock valued at $630,000 after purchasing an additional 204 shares during the last quarter. 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.