Truist Financial Lowers Manhattan Associates (NASDAQ:MANH) Price Target to $285.00

Manhattan Associates (NASDAQ:MANH) had its price objective reduced by research analysts at Truist Financial from $310.00 to $285.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. Truist Financial’s price objective suggests a potential downside of 3.42% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Citigroup dropped their target price on shares of Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating on the stock in a report on Monday. Piper Sandler assumed coverage on shares of Manhattan Associates in a research note on Monday, November 25th. They set an “overweight” rating and a $326.00 target price for the company. Robert W. Baird increased 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. Finally, DA Davidson lifted their price objective on Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $289.78.

Manhattan Associates Price Performance

Shares of Manhattan Associates stock opened at $295.10 on Wednesday. The stock has a market cap of $18.02 billion, a price-to-earnings ratio of 83.84 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 firm’s 50-day moving average is $283.17 and its 200 day moving average is $272.29.

Insider Buying and Selling at Manhattan Associates

In related news, SVP Bruce Richards sold 4,150 shares of Manhattan Associates stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the sale, the senior vice president now owns 22,086 shares of the company’s stock, valued at approximately $6,398,976.78. This trade represents a 15.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James Stewart Gantt sold 3,475 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the transaction, the executive vice president now directly owns 42,812 shares of the company’s stock, valued at $12,334,137.20. The trade was 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 currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital Performance Advisors LLP purchased a new stake in Manhattan Associates during the third quarter valued at $34,000. Synergy Asset Management LLC bought a new stake in shares of Manhattan Associates in the 4th quarter worth about $35,000. Ashton Thomas Securities LLC purchased a new stake in shares of Manhattan Associates during the 3rd quarter valued at about $42,000. Carolina Wealth Advisors LLC bought a new position in shares of Manhattan Associates in the 3rd quarter valued at about $50,000. Finally, Brooklyn Investment Group purchased a new position in Manhattan Associates in the third quarter worth about $58,000. 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.