Manhattan Associates (NASDAQ:MANH) Earns Hold Rating from Loop Capital

Loop Capital reiterated their hold rating on shares of Manhattan Associates (NASDAQ:MANH) in a research report released on Thursday, MarketBeat Ratings reports. Loop Capital currently has a $170.00 price target on the software maker’s stock, down from their prior price target of $275.00.

A number of other brokerages also recently issued reports on MANH. 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 report on Wednesday, January 29th. DA Davidson raised Manhattan Associates to a “strong-buy” rating in a report on Monday, March 24th. Raymond James dropped their price target 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. Citigroup decreased their price objective on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Finally, Piper Sandler dropped their target price on shares of Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating for the company in a research report on Friday, March 14th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $232.11.

Manhattan Associates Trading Up 0.7 %

Manhattan Associates stock opened at $158.67 on Thursday. Manhattan Associates has a 1-year low of $140.81 and a 1-year high of $312.60. The firm has a market capitalization of $9.63 billion, a PE ratio of 45.21 and a beta of 1.36. The firm’s 50 day simple moving average is $173.89 and its 200 day simple moving average is $242.38.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $170.83, for a total transaction of $476,274.04. Following the completion of the sale, the chief financial officer now directly owns 101,263 shares in the company, valued at $17,298,758.29. This represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MANH. Vanguard Group Inc. grew its position in Manhattan Associates by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 6,702,557 shares of the software maker’s stock worth $1,811,299,000 after acquiring an additional 50,538 shares during the last quarter. FMR LLC boosted its stake in shares of Manhattan Associates by 16.2% during the fourth quarter. FMR LLC now owns 2,227,669 shares of the software maker’s stock valued at $602,005,000 after purchasing an additional 310,257 shares during the period. Franklin Resources Inc. grew its holdings in shares of Manhattan Associates by 43.2% in the fourth quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker’s stock worth $517,917,000 after purchasing an additional 578,295 shares during the last quarter. Invesco Ltd. increased its stake in shares of Manhattan Associates by 3.1% in the fourth quarter. Invesco Ltd. now owns 1,861,160 shares of the software maker’s stock worth $502,960,000 after buying an additional 55,334 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in Manhattan Associates by 101.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker’s stock valued at $452,321,000 after buying an additional 841,276 shares during the last quarter. 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.