Piper Sandler Reiterates “Overweight” Rating for Manhattan Associates (NASDAQ:MANH)

Manhattan Associates (NASDAQ:MANH)‘s stock had its “overweight” rating reiterated by equities researchers at Piper Sandler in a research note issued on Wednesday,Benzinga reports. They presently have a $268.00 price objective on the software maker’s stock, down from their prior price objective of $326.00. Piper Sandler’s price target would indicate a potential upside of 18.06% from the stock’s current price.

MANH has been the subject of several other research reports. Truist Financial cut their target price on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday. Citigroup reduced their target price on Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating on the stock in a report on Monday. Robert W. Baird boosted 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. Raymond James upped their price target on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Manhattan Associates has an average rating of “Moderate Buy” and an average target price of $283.33.

Manhattan Associates Trading Down 23.1 %

Shares of MANH traded down $68.09 during midday trading on Wednesday, reaching $227.01. 678,577 shares of the company were exchanged, compared to its average volume of 350,916. The company has a market cap of $13.87 billion, a price-to-earnings ratio of 64.56 and a beta of 1.52. Manhattan Associates has a 1-year low of $205.12 and a 1-year high of $312.60. The stock has a 50-day moving average price of $283.17 and a 200-day moving average price of $272.29.

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, SVP Bruce Richards sold 4,150 shares of Manhattan Associates stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 22,086 shares in the company, valued at approximately $6,398,976.78. The trade was a 15.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP James Stewart Gantt sold 3,475 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total value of $1,001,147.50. Following the completion of the sale, 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 position. 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

A number of hedge funds have recently modified their holdings of MANH. Capital Performance Advisors LLP bought a new stake in shares of Manhattan Associates in the 3rd quarter valued at approximately $34,000. Synergy Asset Management LLC bought a new position in shares of Manhattan Associates in the 4th quarter valued at approximately $35,000. Ashton Thomas Securities LLC acquired a new stake in Manhattan Associates in the 3rd quarter worth approximately $42,000. Carolina Wealth Advisors LLC bought a new stake in Manhattan Associates during the third quarter worth approximately $50,000. Finally, Brooklyn Investment Group bought a new stake in shares of Manhattan Associates during the 3rd quarter worth $58,000. 98.45% of the stock is 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.