Manhattan Associates (NASDAQ:MANH) Upgraded at William Blair

William Blair upgraded shares of Manhattan Associates (NASDAQ:MANH) from a market perform rating to an outperform rating in a research report report published on Thursday morning, Marketbeat Ratings reports.

MANH has been the subject of a number of other reports. DA Davidson cut their price target on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Raymond James cut their target price 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. Citigroup decreased their price target 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. Piper Sandler restated an “overweight” rating and issued a $268.00 price objective (down from $326.00) on shares of Manhattan Associates in a research report on Wednesday, January 29th. Finally, StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Manhattan Associates currently has an average rating of “Moderate Buy” and an average price target of $273.33.

Manhattan Associates Trading Up 1.5 %

Shares of MANH stock opened at $190.41 on Thursday. The firm’s 50 day moving average is $259.20 and its 200 day moving average is $268.28. The stock has a market capitalization of $11.63 billion, a P/E 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

In related news, EVP James Stewart Gantt sold 3,475 shares of the business’s stock in a transaction that occurred 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 owns 42,812 shares in the company, valued at $12,334,137.20. The trade was a 7.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Bruce Richards sold 4,150 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the senior vice president now directly owns 22,086 shares of the company’s stock, valued at approximately $6,398,976.78. This represents 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 Trading of Manhattan Associates

Hedge funds have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA lifted its stake in shares of Manhattan Associates by 101.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker’s stock valued at $452,321,000 after acquiring an additional 841,276 shares during the last quarter. Norges Bank bought a new stake in Manhattan Associates in the fourth quarter valued at approximately $201,377,000. JPMorgan Chase & Co. boosted its stake in shares of Manhattan Associates by 213.7% during the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock valued at $284,169,000 after purchasing an additional 687,933 shares during the period. Franklin Resources Inc. grew its holdings in shares of Manhattan Associates by 43.2% in the fourth quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker’s stock worth $517,917,000 after purchasing an additional 578,295 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Manhattan Associates by 275.6% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 486,750 shares of the software maker’s stock worth $131,539,000 after buying an additional 357,172 shares during the period. 98.45% of the stock is owned by institutional investors.

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.