Manhattan Associates (NASDAQ:MANH) Reaches New 12-Month Low – Here’s What Happened

Shares of Manhattan Associates, Inc. (NASDAQ:MANH) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $183.50 and last traded at $188.84, with a volume of 206603 shares. The stock had previously closed at $200.90.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MANH shares. Piper Sandler reissued an “overweight” rating and issued a $268.00 price target (down from $326.00) on shares of Manhattan Associates in a report on Wednesday, January 29th. DA Davidson cut 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, January 29th. Truist Financial decreased their target price on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Raymond James cut their price target on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. Finally, Loop Capital decreased their price objective on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Manhattan Associates presently has an average rating of “Moderate Buy” and an average price target of $273.33.

Manhattan Associates Trading Up 0.4 %

The company has a 50 day moving average of $266.18 and a 200 day moving average of $269.83. The firm has a market cap of $10.89 billion, a price-to-earnings ratio of 50.81 and a beta of 1.50.

Insider Activity

In other Manhattan Associates news, 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 completion of the transaction, the senior vice president now 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP James Stewart Gantt sold 3,475 shares of the 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 sale, the executive vice president now owns 42,812 shares in the company, valued at $12,334,137.20. The trade was a 7.51 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MANH. Tokio Marine Asset Management Co. Ltd. bought a new position in shares of Manhattan Associates in the fourth quarter worth about $3,890,000. GDS Wealth Management increased its holdings in shares of Manhattan Associates by 281.4% in the fourth quarter. GDS Wealth Management now owns 6,347 shares of the software maker’s stock valued at $1,715,000 after purchasing an additional 4,683 shares in the last quarter. Oak Thistle LLC bought a new position in Manhattan Associates in the 4th quarter worth approximately $1,326,000. Smith Group Asset Management LLC lifted its holdings in Manhattan Associates by 1.8% during the 4th quarter. Smith Group Asset Management LLC now owns 93,232 shares of the software maker’s stock worth $25,195,000 after buying an additional 1,641 shares in the last quarter. Finally, Dock Street Asset Management Inc. boosted its position in Manhattan Associates by 6.1% in the 4th quarter. Dock Street Asset Management Inc. now owns 72,031 shares of the software maker’s stock valued at $19,466,000 after buying an additional 4,137 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.