Manhattan Associates, Inc. (NASDAQ:MANH) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Manhattan Associates, Inc. (NASDAQ:MANH) have earned a consensus recommendation of “Moderate Buy” from the ten brokerages that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $273.33.

Several equities research analysts have recently commented on the company. Raymond James reduced their price objective on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. Robert W. Baird upped their price target on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Citigroup lowered their price objective on Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating on the stock 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 report on Monday, January 13th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $268.00 price target (down previously from $326.00) on shares of Manhattan Associates in a report on Wednesday, January 29th.

Insider Buying and Selling

In other news, SVP Bruce Richards sold 4,150 shares of Manhattan Associates stock in a transaction dated Friday, November 29th. The stock was 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 directly owns 22,086 shares of the company’s stock, valued at approximately $6,398,976.78. The trade was a 15.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP James Stewart Gantt sold 3,475 shares of the business’s stock in a transaction dated 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 owns 42,812 shares in the company, valued at $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. 0.72% of the stock is owned by company insiders.

Institutional Trading of Manhattan Associates

Large investors have recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Manhattan Associates by 0.6% in the third quarter. State Street Corp now owns 2,203,139 shares of the software maker’s stock valued at $619,918,000 after purchasing an additional 12,787 shares in the last quarter. FMR LLC lifted its position in Manhattan Associates by 7.3% during the third quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock valued at $539,521,000 after purchasing an additional 130,817 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Manhattan Associates by 5.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,514,941 shares of the software maker’s stock worth $426,308,000 after buying an additional 82,995 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Manhattan Associates by 213.7% in the 3rd 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 during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in shares of Manhattan Associates during the 3rd quarter valued at about $234,249,000. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Trading Up 1.4 %

Shares of NASDAQ MANH opened at $200.90 on Friday. Manhattan Associates has a 12-month low of $196.04 and a 12-month high of $312.60. The firm has a market capitalization of $12.27 billion, a price-to-earnings ratio of 57.24 and a beta of 1.50. The firm has a 50 day moving average of $270.72 and a 200 day moving average of $270.42.

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.