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

Manhattan Associates, Inc. (NASDAQ:MANH) has received a consensus rating of “Moderate Buy” from the ten brokerages that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $273.33.

A number of equities research analysts have issued reports on MANH shares. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Raymond James reduced their price objective on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. DA Davidson lowered their price target on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Loop Capital cut their price objective on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $268.00 price target (down from $326.00) on shares of Manhattan Associates in a research note on Wednesday, January 29th.

Manhattan Associates Stock Up 2.1 %

MANH opened at $200.72 on Friday. The firm has a market cap of $12.26 billion, a P/E ratio of 57.19 and a beta of 1.50. The business has a fifty day simple moving average of $274.21 and a 200-day simple moving average of $271.10. Manhattan Associates has a 52 week low of $196.04 and a 52 week high of $312.60.

Insider Activity

In related 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 transaction of $1,202,379.50. Following the completion of the sale, the senior vice president now directly owns 22,086 shares in the company, valued at approximately $6,398,976.78. This trade represents a 15.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total value of $1,001,147.50. Following the sale, the executive vice president now directly owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. The trade was a 7.51 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA acquired a new position in shares of Manhattan Associates during the third quarter worth approximately $234,249,000. JPMorgan Chase & Co. raised its stake in shares of Manhattan Associates by 213.7% in the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock valued at $284,169,000 after acquiring an additional 687,933 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Manhattan Associates by 275.6% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 486,750 shares of the software maker’s stock worth $131,539,000 after purchasing an additional 357,172 shares in the last quarter. Swedbank AB grew its holdings in Manhattan Associates by 1,840.3% during the 4th quarter. Swedbank AB now owns 369,019 shares of the software maker’s stock worth $99,724,000 after acquiring an additional 350,000 shares during the last quarter. Finally, AustralianSuper Pty Ltd increased its stake in shares of Manhattan Associates by 968.0% in the 4th quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker’s stock valued at $62,890,000 after buying an additional 210,929 shares during the period. Institutional investors and hedge funds 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.