Analysts Set Manhattan Associates, Inc. (NASDAQ:MANH) Target Price at $243.78

Shares of Manhattan Associates, Inc. (NASDAQ:MANH) have been given an average recommendation of “Moderate Buy” by the ten analysts that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $243.78.

Several equities analysts have weighed in on the company. William Blair raised Manhattan Associates from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 13th. Citigroup dropped their price objective on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. Truist Financial reduced their target price on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Raymond James lowered 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, January 29th. Finally, Robert W. Baird reduced their price objective on shares of Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 18th.

Manhattan Associates Price Performance

Shares of MANH opened at $179.55 on Friday. Manhattan Associates has a 1-year low of $163.10 and a 1-year high of $312.60. The stock has a market cap of $10.97 billion, a price-to-earnings ratio of 51.15 and a beta of 1.47. The firm has a 50 day simple moving average of $202.16 and a 200-day simple moving average of $253.38.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Twin Tree Management LP acquired a new position in shares of Manhattan Associates during the 4th quarter valued at $25,000. Synergy Asset Management LLC purchased a new position in Manhattan Associates in the fourth quarter valued at about $35,000. Whipplewood Advisors LLC acquired a new position in shares of Manhattan Associates during the fourth quarter worth about $34,000. Park Square Financial Group LLC purchased a new stake in shares of Manhattan Associates in the fourth quarter worth about $38,000. Finally, Transce3nd LLC acquired a new stake in shares of Manhattan Associates in the fourth quarter valued at 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.