Manhattan Associates, Inc. (NASDAQ:MANH) Receives Consensus Rating of “Moderate Buy” from Brokerages

Manhattan Associates, Inc. (NASDAQ:MANH) has earned a consensus rating of “Moderate Buy” from the ten analysts that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $243.78.

A number of research analysts recently commented on MANH shares. Piper Sandler reduced their target price on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday, March 14th. DA Davidson upgraded Manhattan Associates to a “strong-buy” rating in a research report on Monday. Loop Capital dropped their target price on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. 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, William Blair upgraded shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th.

Manhattan Associates Price Performance

MANH stock opened at $174.82 on Friday. The firm has a 50 day simple moving average of $198.17 and a two-hundred day simple moving average of $252.30. The stock has a market cap of $10.69 billion, a PE ratio of 49.81 and a beta of 1.47. Manhattan Associates has a one year low of $163.10 and a one year high of $312.60.

Insider Activity at Manhattan Associates

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 shares were sold at an average price of $170.83, for a total value of $476,274.04. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is currently owned by company insiders.

Institutional Trading of Manhattan Associates

A number of institutional investors have recently modified their holdings of MANH. Tokio Marine Asset Management Co. Ltd. purchased a new stake in Manhattan Associates in the 4th quarter worth approximately $3,890,000. GDS Wealth Management increased its stake in shares of Manhattan Associates by 281.4% during the fourth quarter. GDS Wealth Management now owns 6,347 shares of the software maker’s stock valued at $1,715,000 after buying an additional 4,683 shares during the period. Oak Thistle LLC bought a new position in shares of Manhattan Associates during the fourth quarter valued at approximately $1,326,000. AustralianSuper Pty Ltd lifted its stake in Manhattan Associates by 968.0% in the fourth quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker’s stock worth $62,890,000 after acquiring an additional 210,929 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in Manhattan Associates in the fourth quarter valued at $1,200,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

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.