Truist Financial Cuts Manhattan Associates (NASDAQ:MANH) Price Target to $285.00

Manhattan Associates (NASDAQ:MANH) had its price objective dropped by research analysts at Truist Financial from $310.00 to $285.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. Truist Financial’s target price suggests a potential upside of 33.09% from the company’s previous close.

A number of other research analysts have also recently issued reports on the company. Raymond James boosted their target price on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Robert W. Baird increased their target price on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Piper Sandler initiated coverage on shares of Manhattan Associates in a report on Monday, November 25th. They issued an “overweight” rating and a $326.00 price target for the company. Finally, Citigroup dropped their price objective 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 investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Manhattan Associates presently has a consensus rating of “Moderate Buy” and an average price target of $273.33.

Manhattan Associates Stock Down 3.9 %

Shares of NASDAQ MANH opened at $214.14 on Wednesday. Manhattan Associates has a twelve month low of $205.12 and a twelve month high of $312.60. The stock has a market cap of $13.08 billion, a price-to-earnings ratio of 60.84 and a beta of 1.52. The company’s fifty day moving average is $281.04 and its 200-day moving average is $271.55.

Insider Buying and Selling

In related news, SVP Bruce Richards sold 4,150 shares of Manhattan Associates stock in a transaction dated 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. The trade was a 15.82 % 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. Also, EVP James Stewart Gantt sold 3,475 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 42,812 shares of the company’s stock, valued at $12,334,137.20. This trade represents a 7.51 % 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 made changes to their positions in MANH. Fidelis Capital Partners LLC grew its stake in shares of Manhattan Associates by 3.2% in the third quarter. Fidelis Capital Partners LLC now owns 1,279 shares of the software maker’s stock valued at $347,000 after buying an additional 40 shares in the last quarter. Ascent Group LLC grew its position in shares of Manhattan Associates by 4.8% in the 3rd quarter. Ascent Group LLC now owns 896 shares of the software maker’s stock valued at $252,000 after acquiring an additional 41 shares during the period. UMB Bank n.a. increased its stake in shares of Manhattan Associates by 16.7% during the 3rd quarter. UMB Bank n.a. now owns 301 shares of the software maker’s stock worth $85,000 after purchasing an additional 43 shares during the last quarter. Huntington National Bank raised its holdings in shares of Manhattan Associates by 5.9% in the 3rd quarter. Huntington National Bank now owns 879 shares of the software maker’s stock valued at $247,000 after purchasing an additional 49 shares during the period. Finally, CIBC Asset Management Inc lifted its stake in Manhattan Associates by 3.3% in the 3rd quarter. CIBC Asset Management Inc now owns 1,798 shares of the software maker’s stock valued at $506,000 after purchasing an additional 58 shares during the last quarter. 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.