Manhattan Associates (NASDAQ:MANH) Reaches New 1-Year Low – Should You Sell?

Manhattan Associates, Inc. (NASDAQ:MANH)’s share price hit a new 52-week low on Tuesday . The stock traded as low as $169.59 and last traded at $170.14, with a volume of 46673 shares. The stock had previously closed at $173.09.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MANH shares. Piper Sandler reissued an “overweight” rating and set a $268.00 price target (down previously from $326.00) on shares of Manhattan Associates in a research report on Wednesday, January 29th. Loop Capital decreased their price target on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. DA Davidson reduced 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 note on Wednesday, January 29th. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, William Blair raised Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Manhattan Associates has an average rating of “Moderate Buy” and an average target price of $273.33.

Manhattan Associates Price Performance

The company has a market capitalization of $10.54 billion, a price-to-earnings ratio of 49.12 and a beta of 1.50. The company’s 50-day moving average price is $234.45 and its two-hundred day moving average price is $263.27.

Institutional Trading of Manhattan Associates

Several hedge funds have recently modified their holdings of MANH. Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of Manhattan Associates in the 4th quarter valued at about $3,890,000. GDS Wealth Management increased its holdings in shares of Manhattan Associates by 281.4% during the fourth quarter. GDS Wealth Management now owns 6,347 shares of the software maker’s stock valued at $1,715,000 after acquiring an additional 4,683 shares in the last quarter. Oak Thistle LLC acquired a new position in shares of Manhattan Associates during the fourth quarter worth approximately $1,326,000. AustralianSuper Pty Ltd lifted its holdings in shares of Manhattan Associates by 968.0% in the 4th quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker’s stock worth $62,890,000 after purchasing an additional 210,929 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Manhattan Associates in the 4th quarter valued at $1,200,000. 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.