Raymond James Cuts Manhattan Associates (NASDAQ:MANH) Price Target to $270.00

Manhattan Associates (NASDAQ:MANH) had its price objective reduced by stock analysts at Raymond James from $305.00 to $270.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the software maker’s stock. Raymond James’ target price suggests a potential upside of 26.09% from the stock’s current price.

MANH has been the subject of a number of other reports. Piper Sandler reissued an “overweight” rating and issued a $268.00 price objective (down from $326.00) on shares of Manhattan Associates in a research note on Wednesday. Truist Financial dropped their price target on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday. Robert W. Baird upped their price objective on Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, Citigroup decreased their price target on Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating on the stock in a report on Monday. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $273.33.

Manhattan Associates Stock Performance

NASDAQ MANH opened at $214.14 on Wednesday. The stock has a 50 day moving average price of $281.04 and a 200-day moving average price of $271.55. Manhattan Associates has a one year low of $205.12 and a one year high of $312.60. The company has a market capitalization of $13.08 billion, a P/E ratio of 60.84 and a beta of 1.52.

Insider Activity at Manhattan Associates

In other news, SVP Bruce Richards sold 4,150 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $6,398,976.78. This represents a 15.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates stock in a transaction dated 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 sale, the executive vice president now owns 42,812 shares of the company’s stock, valued at $12,334,137.20. The trade was a 7.51 % 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

A number of large investors have recently modified their holdings of MANH. Capital Performance Advisors LLP bought a new stake in Manhattan Associates during the 3rd quarter valued at $34,000. Synergy Asset Management LLC purchased a new position in shares of Manhattan Associates during the fourth quarter valued at $35,000. Ashton Thomas Securities LLC bought a new stake in shares of Manhattan Associates in the third quarter valued at about $42,000. Carolina Wealth Advisors LLC purchased a new stake in Manhattan Associates in the third quarter worth about $50,000. Finally, Brooklyn Investment Group bought a new position in Manhattan Associates during the 3rd quarter worth about $58,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

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.