Manhattan Associates (NASDAQ:MANH) Sets New 52-Week Low – Here’s What Happened

Manhattan Associates, Inc. (NASDAQ:MANH)’s stock price reached a new 52-week low on Monday . The company traded as low as $201.54 and last traded at $202.82, with a volume of 32494 shares changing hands. The stock had previously closed at $208.59.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Piper Sandler reissued an “overweight” rating and issued a $268.00 price objective (down from $326.00) on shares of Manhattan Associates in a research note on Wednesday, January 29th. Raymond James dropped their price objective on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. Loop Capital dropped their price objective on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Robert W. Baird boosted their price objective on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Finally, DA Davidson dropped their price objective on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $273.33.

Manhattan Associates Stock Performance

The firm’s 50-day moving average is $275.95 and its 200 day moving average is $271.59. The firm has a market capitalization of $12.00 billion, a PE ratio of 55.99 and a beta of 1.50.

Insider Buying and Selling

In related news, SVP Bruce Richards sold 4,150 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were 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 directly owns 22,086 shares in the company, valued at $6,398,976.78. The trade was a 15.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the transaction, the executive vice president now owns 42,812 shares in the company, valued at approximately $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. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Manhattan Associates

Several hedge funds have recently modified their holdings of the company. Advisor OS LLC boosted its stake in shares of Manhattan Associates by 89.3% during the 4th quarter. Advisor OS LLC now owns 2,461 shares of the software maker’s stock worth $665,000 after purchasing an additional 1,161 shares during the last quarter. Cavalier Investments LLC boosted its position in shares of Manhattan Associates by 4.2% in the fourth quarter. Cavalier Investments LLC now owns 2,367 shares of the software maker’s stock worth $640,000 after acquiring an additional 96 shares during the last quarter. Amalgamated Bank boosted its position in shares of Manhattan Associates by 0.7% in the fourth quarter. Amalgamated Bank now owns 30,273 shares of the software maker’s stock worth $8,181,000 after acquiring an additional 223 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Manhattan Associates in the fourth quarter worth approximately $1,200,000. Finally, South Dakota Investment Council boosted its position in shares of Manhattan Associates by 48.2% in the fourth quarter. South Dakota Investment Council now owns 11,969 shares of the software maker’s stock worth $3,235,000 after acquiring an additional 3,892 shares during the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

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.