Truist Financial Cuts Manhattan Associates (NASDAQ:MANH) Price Target to $285.00

Manhattan Associates (NASDAQ:MANH) had its price objective cut by Truist Financial from $310.00 to $285.00 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the software maker’s stock.

Other equities research analysts have also recently issued research reports about the stock. DA Davidson upped their price objective on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Robert W. Baird lifted their price objective on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Raymond James upped their target price on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Citigroup decreased their price target on Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Manhattan Associates has a consensus rating of “Moderate Buy” and a consensus price target of $273.33.

Manhattan Associates Stock Performance

NASDAQ:MANH opened at $208.59 on Wednesday. The company has a market cap of $12.74 billion, a price-to-earnings ratio of 59.43 and a beta of 1.52. Manhattan Associates has a fifty-two week low of $205.12 and a fifty-two week high of $312.60. The stock has a fifty day moving average price of $279.60 and a 200-day moving average price of $271.32.

Insider Buying and Selling

In other Manhattan Associates news, EVP James Stewart Gantt sold 3,475 shares of the business’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 transaction of $1,001,147.50. Following the sale, the executive vice president now directly owns 42,812 shares of the company’s stock, valued at $12,334,137.20. The trade was a 7.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Bruce Richards sold 4,150 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were 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 directly owns 22,086 shares of the company’s stock, valued at $6,398,976.78. The trade was a 15.82 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Manhattan Associates

A number of institutional investors have recently made changes to their positions in MANH. Massachusetts Financial Services Co. MA acquired a new position in shares of Manhattan Associates in the third quarter worth approximately $234,249,000. JPMorgan Chase & Co. increased its position in 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 during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in Manhattan Associates by 275.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 486,750 shares of the software maker’s stock worth $131,539,000 after purchasing an additional 357,172 shares during the last quarter. Swedbank AB lifted its position in shares of Manhattan Associates by 1,840.3% in the 4th quarter. Swedbank AB now owns 369,019 shares of the software maker’s stock worth $99,724,000 after purchasing an additional 350,000 shares during the period. Finally, AustralianSuper Pty Ltd boosted its stake in shares of Manhattan Associates by 968.0% in the 4th quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker’s stock valued at $62,890,000 after purchasing an additional 210,929 shares during the last quarter. 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.