Manhattan Associates (NASDAQ:MANH) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of Manhattan Associates (NASDAQ:MANHGet Rating) in a research report report published on Thursday morning. The firm issued a buy rating on the software maker’s stock.

Other analysts have also issued research reports about the stock. DA Davidson assumed coverage on shares of Manhattan Associates in a research report on Tuesday, February 21st. They issued a neutral rating and a $145.00 price target on the stock. Robert W. Baird boosted their price target on shares of Manhattan Associates from $161.00 to $168.00 in a research report on Friday, February 3rd. Finally, Rosenblatt Securities boosted their price target on shares of Manhattan Associates from $140.00 to $150.00 and gave the company a buy rating in a research report on Friday, February 3rd.

Manhattan Associates Stock Performance

MANH traded down $0.03 during midday trading on Thursday, reaching $143.46. The company had a trading volume of 441,314 shares, compared to its average volume of 224,882. The stock has a market cap of $8.97 billion, a PE ratio of 70.32 and a beta of 1.57. Manhattan Associates has a 12-month low of $106.02 and a 12-month high of $158.61. The business has a 50-day moving average price of $136.82 and a two-hundred day moving average price of $130.02.

Insider Buying and Selling

In related news, Director John J. Huntz, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $143.65, for a total transaction of $143,650.00. Following the sale, the director now owns 65,887 shares of the company’s stock, valued at approximately $9,464,667.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director John J. Huntz, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $143.65, for a total transaction of $143,650.00. Following the sale, the director now owns 65,887 shares of the company’s stock, valued at approximately $9,464,667.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eddie Capel sold 42,678 shares of the company’s stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $144.04, for a total transaction of $6,147,339.12. Following the sale, the chief executive officer now directly owns 207,422 shares in the company, valued at approximately $29,877,064.88. The disclosure for this sale can be found here. 0.78% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Manhattan Associates

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Raleigh Capital Management Inc. grew its stake in Manhattan Associates by 97.1% in the 4th quarter. Raleigh Capital Management Inc. now owns 207 shares of the software maker’s stock worth $25,000 after buying an additional 102 shares in the last quarter. ST Germain D J Co. Inc. purchased a new position in Manhattan Associates in the 4th quarter worth approximately $27,000. Altshuler Shaham Ltd purchased a new position in Manhattan Associates in the 3rd quarter worth approximately $32,000. Private Trust Co. NA purchased a new position in Manhattan Associates in the 2nd quarter worth approximately $30,000. Finally, Belpointe Asset Management LLC purchased a new position in Manhattan Associates in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 96.92% of the company’s stock.

Manhattan Associates Company Profile

(Get Rating)

Manhattan Associates, Inc engages in developing, selling, deploying, servicing, and maintaining software solutions. Its solutions focus on supply chains, inventory, and omnichannel for retailers, wholesalers, manufacturers, logistics providers and other organizations. It operates through the following geographical segments: The Americas, Europe, Middle East and Africa, and Asia Pacific.

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