Manhattan Associates (NASDAQ:MANH) Price Target Cut to $275.00 by Analysts at Loop Capital

Manhattan Associates (NASDAQ:MANH) had its target price decreased by Loop Capital from $310.00 to $275.00 in a research note issued to investors on Wednesday,Benzinga reports. Loop Capital currently has a buy rating on the software maker’s stock.

A number of other equities analysts have also issued reports on the stock. Robert W. Baird increased their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Truist Financial dropped their target price on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday. DA Davidson decreased their price target on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Piper Sandler reissued an “overweight” rating and issued a $268.00 price objective (down previously from $326.00) on shares of Manhattan Associates in a research note on Wednesday. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Manhattan Associates presently has an average rating of “Moderate Buy” and an average target price of $273.33.

Manhattan Associates Stock Performance

Shares of MANH stock opened at $222.84 on Wednesday. Manhattan Associates has a 1 year low of $205.12 and a 1 year high of $312.60. The firm has a market capitalization of $13.61 billion, a PE ratio of 63.31 and a beta of 1.52. The stock has a fifty day moving average of $282.19 and a two-hundred day moving average of $271.95.

Insider Activity at Manhattan Associates

In related news, EVP James Stewart Gantt sold 3,475 shares of the firm’s 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 completion of the transaction, the executive vice president now owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. This trade represents a 7.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Bruce Richards sold 4,150 shares of Manhattan Associates stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following 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 ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Manhattan Associates

Several institutional investors and hedge funds have recently bought and sold shares of MANH. Capital Performance Advisors LLP purchased a new stake in Manhattan Associates in the 3rd quarter worth approximately $34,000. Synergy Asset Management LLC bought a new stake in Manhattan Associates in the fourth quarter worth approximately $35,000. Ashton Thomas Securities LLC acquired a new position in shares of Manhattan Associates during the 3rd quarter worth $42,000. Carolina Wealth Advisors LLC bought a new position in shares of Manhattan Associates during the 3rd quarter valued at $50,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Manhattan Associates in the 3rd quarter valued at $58,000. 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.