Manhattan Associates (NASDAQ:MANH) Given New $225.00 Price Target at Robert W. Baird

Manhattan Associates (NASDAQ:MANH) had its target price reduced by Robert W. Baird from $282.00 to $225.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an outperform rating on the software maker’s stock.

MANH has been the topic of several other research reports. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. William Blair upgraded shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 13th. DA Davidson cut their target price on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Truist Financial decreased their price target on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Finally, Citigroup dropped their price objective on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $243.78.

Manhattan Associates Stock Performance

Shares of MANH opened at $172.44 on Tuesday. Manhattan Associates has a one year low of $163.10 and a one year high of $312.60. The stock’s fifty day moving average is $207.62 and its 200-day moving average is $255.09. The firm has a market capitalization of $10.54 billion, a price-to-earnings ratio of 49.13 and a beta of 1.47.

Insider Activity

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $170.83, for a total transaction of $476,274.04. Following the sale, the chief financial officer now owns 101,263 shares in the company, valued at approximately $17,298,758.29. The trade was a 2.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its position in shares of Manhattan Associates by 101.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker’s stock worth $452,321,000 after buying an additional 841,276 shares during the period. Norges Bank purchased a new stake in Manhattan Associates in the 4th quarter worth about $201,377,000. JPMorgan Chase & Co. boosted its position in Manhattan Associates by 213.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock worth $284,169,000 after acquiring an additional 687,933 shares during the period. Franklin Resources Inc. grew its stake in Manhattan Associates by 43.2% during the 4th quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker’s stock valued at $517,917,000 after acquiring an additional 578,295 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in shares of Manhattan Associates by 2,075.5% in the 4th quarter. Lazard Asset Management LLC now owns 399,066 shares of the software maker’s stock valued at $107,842,000 after purchasing an additional 380,722 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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.