Manhattan Associates (NASDAQ:MANH) Raised to Outperform at William Blair

Manhattan Associates (NASDAQ:MANH) was upgraded by William Blair from a “market perform” rating to an “outperform” rating in a research report issued on Thursday, MarketBeat reports.

Other analysts have also issued research reports about the stock. Loop Capital cut their price objective on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. DA Davidson cut their price objective on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Truist Financial dropped their price target on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $268.00 price target (down from $326.00) on shares of Manhattan Associates in a research report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $273.33.

Manhattan Associates Stock Up 1.5 %

Shares of MANH stock opened at $190.41 on Thursday. The company’s fifty day simple moving average is $259.20 and its 200-day simple moving average is $268.19. The firm has a market cap of $11.63 billion, a PE ratio of 54.25 and a beta of 1.50. Manhattan Associates has a 12 month low of $169.94 and a 12 month high of $312.60.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, 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 value of $1,202,379.50. Following the transaction, the senior vice president now directly owns 22,086 shares in the company, valued at $6,398,976.78. The trade was a 15.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 42,812 shares in the company, valued at approximately $12,334,137.20. This represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Manhattan Associates

Several institutional investors and hedge funds have recently modified their holdings of MANH. Cetera Investment Advisers grew its stake in shares of Manhattan Associates by 9.0% in the second quarter. Cetera Investment Advisers now owns 4,240 shares of the software maker’s stock valued at $1,046,000 after acquiring an additional 349 shares in the last quarter. CWM LLC grew its stake in shares of Manhattan Associates by 44.5% in the third quarter. CWM LLC now owns 3,648 shares of the software maker’s stock valued at $1,026,000 after acquiring an additional 1,124 shares in the last quarter. Creative Planning grew its stake in shares of Manhattan Associates by 10.4% in the third quarter. Creative Planning now owns 8,035 shares of the software maker’s stock valued at $2,261,000 after acquiring an additional 756 shares in the last quarter. Kowal Investment Group LLC acquired a new position in shares of Manhattan Associates in the third quarter valued at about $532,000. Finally, nVerses Capital LLC grew its stake in shares of Manhattan Associates by 17.9% in the third quarter. nVerses Capital LLC now owns 3,300 shares of the software maker’s stock valued at $929,000 after acquiring an additional 500 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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.