Brokerages Set Manhattan Associates, Inc. (NASDAQ:MANH) Target Price at $273.33

Manhattan Associates, Inc. (NASDAQ:MANH) has received a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $273.33.

MANH has been the subject of several research reports. Citigroup reduced their price objective 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, January 27th. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Piper Sandler reaffirmed an “overweight” rating and issued a $268.00 target price (down from $326.00) on shares of Manhattan Associates in a research report on Wednesday, January 29th. Robert W. Baird lifted their price target on Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Finally, Raymond James lowered their price objective 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.

Manhattan Associates Stock Performance

Shares of NASDAQ:MANH opened at $200.28 on Friday. The stock has a market capitalization of $12.23 billion, a price-to-earnings ratio of 57.06 and a beta of 1.50. Manhattan Associates has a 1-year low of $199.35 and a 1-year high of $312.60. The company’s fifty day moving average is $277.80 and its two-hundred day moving average is $271.75.

Insider Transactions at Manhattan Associates

In other news, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates 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 completion of the sale, the executive vice president now owns 42,812 shares in the company, valued at approximately $12,334,137.20. This trade represents a 7.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Bruce Richards sold 4,150 shares of Manhattan Associates 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 of the company’s stock, valued at approximately $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 Trading of Manhattan Associates

A number of hedge funds have recently bought and sold shares of MANH. Massachusetts Financial Services Co. MA purchased a new position in shares of Manhattan Associates during the third quarter valued at approximately $234,249,000. JPMorgan Chase & Co. increased its position in Manhattan Associates by 213.7% in the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock worth $284,169,000 after buying an additional 687,933 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Manhattan Associates by 275.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 486,750 shares of the software maker’s stock worth $131,539,000 after purchasing an additional 357,172 shares in the last quarter. Swedbank AB grew its holdings in Manhattan Associates by 1,840.3% during the 4th quarter. Swedbank AB now owns 369,019 shares of the software maker’s stock valued at $99,724,000 after buying an additional 350,000 shares in the last quarter. Finally, AustralianSuper Pty Ltd grew its holdings in Manhattan Associates by 968.0% during the 4th quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker’s stock valued at $62,890,000 after buying an additional 210,929 shares in 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.