Manhattan Associates (NASDAQ:MANH) Price Target Raised to $190.00 at Truist Financial

Manhattan Associates (NASDAQ:MANH) had its price objective raised by Truist Financial from $180.00 to $190.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the software maker’s stock.

MANH has been the subject of a number of other reports. Citigroup dropped their price target on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. DA Davidson lifted their price objective on shares of Manhattan Associates from $195.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday. Robert W. Baird reduced their target price on shares of Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 18th. Finally, Piper Sandler dropped their price objective on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday, March 14th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $213.78.

Manhattan Associates Trading Up 5.9 %

MANH opened at $171.82 on Wednesday. The firm has a market cap of $10.43 billion, a P/E ratio of 48.95 and a beta of 1.36. Manhattan Associates has a 12 month low of $140.81 and a 12 month high of $312.60. The stock has a 50-day moving average of $169.77 and a 200 day moving average of $236.24.

Insider Activity

In related news, CFO Dennis B. Story sold 2,788 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $170.83, for a total value of $476,274.04. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Institutional Trading of Manhattan Associates

Hedge funds and other institutional investors have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. lifted its holdings in shares of Manhattan Associates by 1.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 11,978 shares of the software maker’s stock valued at $2,073,000 after buying an additional 225 shares during the period. Sawgrass Asset Management LLC purchased a new stake in Manhattan Associates during the first quarter worth $6,169,000. Davidson Capital Management Inc. purchased a new position in Manhattan Associates in the first quarter valued at $2,028,000. State of Alaska Department of Revenue raised its position in shares of Manhattan Associates by 16.9% in the first quarter. State of Alaska Department of Revenue now owns 24,649 shares of the software maker’s stock worth $4,264,000 after acquiring an additional 3,560 shares during the period. Finally, Strategic Advisors LLC grew its position in shares of Manhattan Associates by 116.4% during the 1st quarter. Strategic Advisors LLC now owns 3,454 shares of the software maker’s stock valued at $598,000 after acquiring an additional 1,858 shares during the period. 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.