Manhattan Associates (NASDAQ:MANH) Price Target Cut to $303.00 by Analysts at Citigroup

Manhattan Associates (NASDAQ:MANH) had its target price reduced by Citigroup from $306.00 to $303.00 in a research report released on Monday morning,Benzinga reports. They currently have a neutral rating on the software maker’s stock.

Other equities analysts also recently issued reports about the stock. Raymond James boosted their price target on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Piper Sandler began coverage on shares of Manhattan Associates in a report on Monday, November 25th. They issued an “overweight” rating and a $326.00 price target on the stock. DA Davidson boosted their price target on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Truist Financial boosted their price target on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Finally, Robert W. Baird boosted their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $292.56.

Manhattan Associates Price Performance

MANH opened at $288.23 on Monday. The company has a market capitalization of $17.61 billion, a price-to-earnings ratio of 81.88 and a beta of 1.52. The firm’s fifty day moving average price is $282.68 and its two-hundred day moving average price is $271.91. Manhattan Associates has a 1 year low of $205.12 and a 1 year high of $312.60.

Insider Buying and Selling at Manhattan Associates

In other news, EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was 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 directly owns 42,812 shares in the company, valued at $12,334,137.20. This represents a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Bruce Richards sold 4,150 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $289.73, for a total value of $1,202,379.50. Following the sale, the senior vice president now owns 22,086 shares in the company, valued at approximately $6,398,976.78. This represents a 15.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Manhattan Associates

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Silver Oak Securities Incorporated increased its position in shares of Manhattan Associates by 19.9% during the fourth quarter. Silver Oak Securities Incorporated now owns 2,695 shares of the software maker’s stock valued at $731,000 after buying an additional 448 shares during the period. Robertson Stephens Wealth Management LLC increased its position in shares of Manhattan Associates by 3.1% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 2,759 shares of the software maker’s stock valued at $746,000 after buying an additional 83 shares during the period. Calamos Advisors LLC increased its position in shares of Manhattan Associates by 23.7% during the fourth quarter. Calamos Advisors LLC now owns 5,367 shares of the software maker’s stock valued at $1,450,000 after buying an additional 1,027 shares during the period. abrdn plc increased its position in shares of Manhattan Associates by 2.1% in the fourth quarter. abrdn plc now owns 23,088 shares of the software maker’s stock worth $6,250,000 after purchasing an additional 476 shares during the last quarter. Finally, Trust Point Inc. increased its position in shares of Manhattan Associates by 29.0% in the fourth quarter. Trust Point Inc. now owns 1,787 shares of the software maker’s stock worth $483,000 after purchasing an additional 402 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

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.