Manhattan Associates, Inc. (NASDAQ:MANH) CFO Dennis B. Story Sells 2,788 Shares

Manhattan Associates, Inc. (NASDAQ:MANH) CFO Dennis B. Story sold 2,788 shares of the business’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 transaction of $476,274.04. Following the transaction, the chief financial officer now owns 101,263 shares of the company’s stock, valued at approximately $17,298,758.29. This trade represents a 2.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Manhattan Associates Stock Down 3.0 %

Shares of Manhattan Associates stock traded down $5.09 on Monday, reaching $165.64. 886,771 shares of the stock were exchanged, compared to its average volume of 495,830. Manhattan Associates, Inc. has a twelve month low of $164.66 and a twelve month high of $312.60. The business has a 50 day moving average price of $225.75 and a two-hundred day moving average price of $260.80. The firm has a market capitalization of $10.12 billion, a price-to-earnings ratio of 47.19 and a beta of 1.47.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on MANH shares. DA Davidson cut their price target on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Loop Capital decreased their price target on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Citigroup lowered their price target on Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Finally, Truist Financial cut their price objective on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $273.33.

Institutional Trading of Manhattan Associates

Hedge funds and other institutional investors have recently made changes to their positions in the business. Twin Tree Management LP acquired a new position in Manhattan Associates during the fourth quarter valued at $25,000. Capital Performance Advisors LLP acquired a new position in shares of Manhattan Associates in the 3rd quarter valued at about $34,000. Synergy Asset Management LLC acquired a new position in shares of Manhattan Associates in the 4th quarter valued at about $35,000. Whipplewood Advisors LLC purchased a new stake in shares of Manhattan Associates in the fourth quarter worth about $34,000. Finally, Park Square Financial Group LLC acquired a new stake in Manhattan Associates during the fourth quarter worth about $38,000. 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.