Manhattan Associates (NASDAQ:MANH) Price Target Cut to $270.00 by Analysts at Raymond James

Manhattan Associates (NASDAQ:MANH) had its price target decreased by Raymond James from $305.00 to $270.00 in a research note issued to investors on Wednesday,Benzinga reports. Raymond James currently has an outperform rating on the software maker’s stock.

Several other equities analysts have also recently weighed in on the company. Piper Sandler restated an “overweight” rating and set a $268.00 price target (down previously from $326.00) on shares of Manhattan Associates in a report on Wednesday. Truist Financial cut their target price on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday. DA Davidson upped their price target on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Citigroup reduced their target price on shares of Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating on the stock in a report on Monday. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $273.33.

Manhattan Associates Stock Down 24.5 %

MANH opened at $222.84 on Wednesday. The company has a market capitalization of $13.61 billion, a PE ratio of 63.31 and a beta of 1.52. The firm has a 50-day simple moving average of $282.19 and a two-hundred day simple moving average of $271.95. Manhattan Associates has a 52 week low of $205.12 and a 52 week high of $312.60.

Insider Buying and Selling

In other Manhattan Associates news, EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total value of $1,001,147.50. Following the transaction, the executive vice president now owns 42,812 shares of the company’s stock, valued at $12,334,137.20. This represents a 7.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Bruce Richards sold 4,150 shares of Manhattan Associates stock in a transaction on Friday, November 29th. The stock was sold at an average price of $289.73, for a total value of $1,202,379.50. Following the sale, the senior vice president now 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 disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MANH. Massachusetts Financial Services Co. MA purchased a new stake in Manhattan Associates in the 3rd quarter valued at about $234,249,000. JPMorgan Chase & Co. boosted its holdings 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 purchasing an additional 687,933 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of 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 valued at $131,539,000 after purchasing an additional 357,172 shares during the period. Swedbank AB grew its stake in Manhattan Associates by 1,840.3% in the fourth quarter. Swedbank AB now owns 369,019 shares of the software maker’s stock worth $99,724,000 after purchasing an additional 350,000 shares in the last quarter. Finally, FMR LLC increased its holdings in Manhattan Associates by 7.3% during the 3rd quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock worth $539,521,000 after purchasing an additional 130,817 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

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.