Loop Capital Cuts Manhattan Associates (NASDAQ:MANH) Price Target to $275.00

Manhattan Associates (NASDAQ:MANH) had its price target decreased by equities research analysts at Loop Capital from $310.00 to $275.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. Loop Capital’s price target would indicate a potential upside of 23.41% from the stock’s current price.

Several other research firms have also recently weighed in on MANH. DA Davidson dropped their price objective on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a research report on Wednesday. Raymond James cut their price target on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research note on Wednesday. Piper Sandler reiterated an “overweight” rating and issued a $268.00 price target (down previously from $326.00) on shares of Manhattan Associates in a report on Wednesday. Citigroup dropped their price objective on Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating for the company in a report on Monday. Finally, Truist Financial reduced 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. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $273.33.

Manhattan Associates Stock Performance

MANH traded down $72.26 during midday trading on Wednesday, hitting $222.84. The company had a trading volume of 3,269,808 shares, compared to its average volume of 522,502. Manhattan Associates has a twelve month low of $205.12 and a twelve month high of $312.60. The company has a market capitalization of $13.61 billion, a PE ratio of 63.31 and a beta of 1.52. The firm’s 50-day simple moving average is $283.17 and its 200-day simple moving average is $272.29.

Insider Buying and Selling at Manhattan Associates

In related news, EVP James Stewart Gantt sold 3,475 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the sale, the executive vice president now directly owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. This represents a 7.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Bruce Richards sold 4,150 shares of Manhattan Associates stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the completion of the transaction, the senior vice president now directly owns 22,086 shares in the company, valued at approximately $6,398,976.78. The trade was a 15.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Manhattan Associates

Large investors have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of Manhattan Associates in the third quarter worth $34,000. Synergy Asset Management LLC acquired a new stake in Manhattan Associates in the 4th quarter valued at $35,000. Ashton Thomas Securities LLC bought a new stake in Manhattan Associates during the 3rd quarter worth about $42,000. Carolina Wealth Advisors LLC acquired a new position in shares of Manhattan Associates during the 3rd quarter worth about $50,000. Finally, Brooklyn Investment Group bought a new position in shares of Manhattan Associates in the 3rd quarter valued at about $58,000. 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.