Manhattan Associates (NASDAQ:MANH) Upgraded to Strong-Buy at DA Davidson

DA Davidson upgraded shares of Manhattan Associates (NASDAQ:MANH) to a strong-buy rating in a research note issued to investors on Monday,Zacks.com reports.

MANH has been the topic of several other research reports. Raymond James lowered their target price 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 target price on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Truist Financial decreased their price target on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Robert W. Baird dropped their price objective on Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 18th. Finally, Citigroup decreased their target price on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $243.78.

Manhattan Associates Stock Performance

MANH stock opened at $177.97 on Monday. Manhattan Associates has a 1 year low of $163.10 and a 1 year high of $312.60. The stock’s fifty day moving average is $203.99 and its two-hundred day moving average is $253.88. The stock has a market capitalization of $10.88 billion, a price-to-earnings ratio of 50.70 and a beta of 1.47.

Insider Transactions at Manhattan Associates

In other news, CFO Dennis B. Story sold 2,788 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $170.83, for a total value of $476,274.04. Following the transaction, the chief financial officer now owns 101,263 shares in the company, valued at $17,298,758.29. This represents a 2.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Manhattan Associates

A number of institutional investors have recently modified their holdings of MANH. Massachusetts Financial Services Co. MA lifted its holdings in shares of Manhattan Associates by 101.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker’s stock valued at $452,321,000 after buying an additional 841,276 shares during the last quarter. Norges Bank acquired a new position in shares of Manhattan Associates during the 4th quarter worth $201,377,000. JPMorgan Chase & Co. raised its holdings in shares of Manhattan Associates by 213.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock valued at $284,169,000 after purchasing an additional 687,933 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Manhattan Associates by 43.2% in the 4th quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker’s stock valued at $517,917,000 after purchasing an additional 578,295 shares during the last quarter. Finally, Lazard Asset Management LLC increased its position in Manhattan Associates by 2,075.5% during the fourth quarter. Lazard Asset Management LLC now owns 399,066 shares of the software maker’s stock worth $107,842,000 after buying an additional 380,722 shares during the last quarter. Institutional investors and hedge funds 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.