Manhattan Associates (NASDAQ:MANH) Price Target Cut to $185.00 by Analysts at Truist Financial

Manhattan Associates (NASDAQ:MANH) had its price target cut by stock analysts at Truist Financial from $285.00 to $185.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. Truist Financial’s price objective would indicate a potential upside of 12.56% from the company’s previous close.

A number of other brokerages have also commented on MANH. Robert W. Baird decreased their price target on shares of Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating on the stock in a report on Tuesday, March 18th. Citigroup lowered their price target on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Loop Capital reiterated a “hold” rating and issued a $170.00 price objective (down from $275.00) on shares of Manhattan Associates in a report on Thursday, April 10th. DA Davidson raised Manhattan Associates to a “strong-buy” rating in a report on Monday, March 24th. Finally, StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $212.67.

Manhattan Associates Stock Up 1.1 %

Manhattan Associates stock opened at $164.35 on Monday. The business has a 50-day simple moving average of $172.45 and a 200 day simple moving average of $240.73. Manhattan Associates has a 52 week low of $140.81 and a 52 week high of $312.60. The stock has a market cap of $9.98 billion, a price-to-earnings ratio of 46.82 and a beta of 1.36.

Insider Buying and Selling

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $170.83, for a total transaction of $476,274.04. Following the transaction, the chief financial officer now directly owns 101,263 shares of the company’s stock, valued at approximately $17,298,758.29. The trade was a 2.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Manhattan Associates

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Twin Tree Management LP purchased a new position in Manhattan Associates during the fourth quarter valued at $25,000. Whipplewood Advisors LLC purchased a new stake in Manhattan Associates during the 4th quarter valued at $34,000. Central Pacific Bank Trust Division increased its holdings in Manhattan Associates by 107.3% in the 1st quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker’s stock worth $34,000 after buying an additional 103 shares in the last quarter. Synergy Asset Management LLC bought a new stake in shares of Manhattan Associates in the fourth quarter worth approximately $35,000. Finally, Park Square Financial Group LLC purchased a new position in shares of Manhattan Associates during the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors 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.