Manhattan Associates (NASDAQ:MANH) Shares Gap Down Following Analyst Downgrade

Manhattan Associates, Inc. (NASDAQ:MANH)’s stock price gapped down before the market opened on Wednesday after Loop Capital lowered their price target on the stock from $310.00 to $275.00. The stock had previously closed at $295.10, but opened at $222.80. Loop Capital currently has a buy rating on the stock. Manhattan Associates shares last traded at $225.89, with a volume of 678,577 shares trading hands.

A number of other brokerages also recently issued reports on MANH. DA Davidson lowered their price target on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday. Piper Sandler reissued an “overweight” rating and issued a $268.00 price target (down from $326.00) on shares of Manhattan Associates in a report on Wednesday. Citigroup reduced their price target on shares of Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating for the company in a research report on Monday. Raymond James lowered their price objective on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $273.33.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the transaction, the executive vice president now directly owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. This trade represents a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Bruce Richards sold 4,150 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the completion of the sale, the senior vice president now directly owns 22,086 shares of the company’s stock, valued at $6,398,976.78. This trade represents a 15.82 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Capital Performance Advisors LLP bought a new position in Manhattan Associates during the 3rd quarter worth approximately $34,000. Synergy Asset Management LLC purchased a new stake in shares of Manhattan Associates during the fourth quarter valued at approximately $35,000. Ashton Thomas Securities LLC bought a new position in shares of Manhattan Associates in the third quarter worth approximately $42,000. Carolina Wealth Advisors LLC purchased a new position in shares of Manhattan Associates in the third quarter worth $50,000. Finally, Brooklyn Investment Group bought a new stake in Manhattan Associates during the 3rd quarter valued at $58,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

The firm has a market cap of $13.61 billion, a PE ratio of 63.31 and a beta of 1.52. The company’s 50-day simple moving average is $282.19 and its two-hundred day simple moving average is $271.95.

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.