Manhattan Associates (NASDAQ:MANH) Price Target Cut to $303.00 by Analysts at Citigroup

Manhattan Associates (NASDAQ:MANH) had its price objective lowered by stock analysts at Citigroup from $306.00 to $303.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the software maker’s stock. Citigroup’s price target suggests a potential upside of 6.95% from the company’s current price.

A number of other analysts also recently issued reports on MANH. DA Davidson lifted their price objective on Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Truist Financial upped their price target on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, October 11th. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Raymond James upped their target price on shares of Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Robert W. Baird boosted their price objective on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Manhattan Associates currently has a consensus rating of “Moderate Buy” and an average target price of $292.56.

Manhattan Associates Stock Down 0.6 %

Shares of Manhattan Associates stock opened at $283.31 on Monday. Manhattan Associates has a twelve month low of $205.12 and a twelve month high of $312.60. The business has a 50-day moving average price of $282.35 and a 200-day moving average price of $271.58. The firm has a market cap of $17.30 billion, a price-to-earnings ratio of 80.47 and a beta of 1.52.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total value of $1,001,147.50. Following the transaction, the executive vice president now directly owns 42,812 shares in the company, valued at $12,334,137.20. This represents a 7.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Bruce Richards sold 4,150 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 22,086 shares of the company’s stock, valued at $6,398,976.78. The trade was a 15.82 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

Institutional Investors Weigh In On Manhattan Associates

A number of institutional investors and hedge funds have recently bought and sold shares of MANH. State Street Corp increased its stake in shares of Manhattan Associates by 0.6% during the third quarter. State Street Corp now owns 2,203,139 shares of the software maker’s stock valued at $619,918,000 after buying an additional 12,787 shares during the period. FMR LLC raised its holdings in shares of Manhattan Associates by 7.3% in the third quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock valued at $539,521,000 after acquiring an additional 130,817 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Manhattan Associates by 5.8% in the third quarter. Geode Capital Management LLC now owns 1,514,941 shares of the software maker’s stock valued at $426,308,000 after acquiring an additional 82,995 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Manhattan Associates by 213.7% in the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock valued at $284,169,000 after acquiring an additional 687,933 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Manhattan Associates in the third quarter valued at about $234,249,000. 98.45% of the stock is owned by institutional investors.

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.