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

Piper Sandler restated their overweight rating on shares of Manhattan Associates (NASDAQ:MANH) in a research report released on Wednesday morning,Benzinga reports. They currently have a $268.00 target price on the software maker’s stock, down from their previous target price of $326.00.

Other research analysts have also recently issued research reports about the stock. DA Davidson raised their target price on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Raymond James upped their price objective on shares of Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Truist Financial cut their target price on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Citigroup lowered their price target on Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating for the company in a research report on Monday. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Manhattan Associates presently has a consensus rating of “Moderate Buy” and an average price target of $273.33.

Manhattan Associates Price Performance

Shares of MANH stock opened at $222.84 on Wednesday. The business has a 50-day moving average of $282.19 and a 200 day moving average of $271.95. The stock has a market capitalization of $13.61 billion, a PE ratio of 63.31 and a beta of 1.52. Manhattan Associates has a 1-year low of $205.12 and a 1-year high of $312.60.

Insider Transactions at Manhattan Associates

In related news, EVP James Stewart Gantt sold 3,475 shares of the company’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 sale, the executive vice president now directly owns 42,812 shares of the company’s stock, valued at $12,334,137.20. This represents a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Bruce Richards sold 4,150 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now directly owns 22,086 shares of the company’s stock, valued at $6,398,976.78. This represents a 15.82 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Manhattan Associates

Hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Performance Advisors LLP bought a new stake in shares of Manhattan Associates in the 3rd quarter worth approximately $34,000. Synergy Asset Management LLC purchased a new position in Manhattan Associates during the fourth quarter valued at $35,000. Ashton Thomas Securities LLC bought a new stake in Manhattan Associates in the third quarter worth $42,000. Carolina Wealth Advisors LLC bought a new stake in Manhattan Associates in the third quarter worth $50,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Manhattan Associates in the third quarter worth $58,000. Hedge funds and other 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.