Manhattan Associates, Inc. (NASDAQ:MANH) Receives $243.78 Consensus Price Target from Brokerages

Manhattan Associates, Inc. (NASDAQ:MANH) has been given an average rating of “Moderate Buy” by the ten analysts that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $243.78.

A number of research analysts recently weighed in on MANH shares. Citigroup decreased their target price on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. Robert W. Baird lowered their target price on Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 18th. Raymond James reduced their price target on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research report on Wednesday, January 29th. DA Davidson raised Manhattan Associates to a “strong-buy” rating in a research report on Monday, March 24th. Finally, Loop Capital dropped their price objective on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th.

Insider Buying and Selling at Manhattan Associates

In other news, 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 completion of the sale, the chief financial officer now owns 101,263 shares in the company, valued at $17,298,758.29. The trade was a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Institutional Trading of Manhattan Associates

Several hedge funds have recently added to or reduced their stakes in MANH. Massachusetts Financial Services Co. MA increased its position in 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 worth $452,321,000 after buying an additional 841,276 shares during the period. Norges Bank bought a new position in Manhattan Associates during the fourth quarter worth about $201,377,000. JPMorgan Chase & Co. raised its stake in Manhattan Associates by 213.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock worth $284,169,000 after purchasing an additional 687,933 shares in the last quarter. Franklin Resources Inc. boosted its holdings in 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 period. Finally, Lazard Asset Management LLC grew its position in shares of Manhattan Associates by 2,075.5% during the 4th quarter. Lazard Asset Management LLC now owns 399,066 shares of the software maker’s stock worth $107,842,000 after purchasing an additional 380,722 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Manhattan Associates Stock Down 0.8 %

Shares of MANH opened at $173.48 on Friday. Manhattan Associates has a twelve month low of $163.10 and a twelve month high of $312.60. The stock has a market capitalization of $10.60 billion, a P/E ratio of 49.42 and a beta of 1.47. The company has a 50 day moving average of $196.17 and a 200-day moving average of $251.68.

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.