Manhattan Associates (NASDAQ:MANH) Upgraded to “Outperform” 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, Marketbeat.com reports.

MANH has been the topic of a number of other research reports. Truist Financial lowered their target price on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Robert W. Baird upped their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Raymond James reduced their price target on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. Finally, DA Davidson reduced their price target on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $273.33.

Manhattan Associates Stock Up 3.1 %

NASDAQ MANH opened at $187.58 on Thursday. The stock has a market cap of $11.46 billion, a P/E ratio of 53.44 and a beta of 1.50. The company’s 50-day simple moving average is $261.45 and its 200 day simple moving average is $268.65. Manhattan Associates has a twelve month low of $169.94 and a twelve month high of $312.60.

Insider Activity

In other Manhattan Associates news, SVP Bruce Richards sold 4,150 shares of the firm’s stock in a transaction that occurred 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 approximately $6,398,976.78. This trade represents a 15.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James Stewart Gantt sold 3,475 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 42,812 shares in the company, valued at approximately $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 owned by insiders.

Hedge Funds Weigh In On Manhattan Associates

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Manhattan Associates by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 6,702,557 shares of the software maker’s stock valued at $1,811,299,000 after acquiring an additional 50,538 shares during the last quarter. FMR LLC raised its holdings in Manhattan Associates by 16.2% in the fourth quarter. FMR LLC now owns 2,227,669 shares of the software maker’s stock worth $602,005,000 after purchasing an additional 310,257 shares during the period. State Street Corp raised its holdings in Manhattan Associates by 0.6% in the third quarter. State Street Corp now owns 2,203,139 shares of the software maker’s stock worth $619,918,000 after purchasing an additional 12,787 shares during the period. Franklin Resources Inc. raised its holdings in 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 period. Finally, Invesco Ltd. raised its holdings in Manhattan Associates by 3.1% in the fourth quarter. Invesco Ltd. now owns 1,861,160 shares of the software maker’s stock worth $502,960,000 after purchasing an additional 55,334 shares during the period. 98.45% of the stock is owned by institutional investors.

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.