Manhattan Associates (NASDAQ:MANH) Sees Large Volume Increase – Still a Buy?

Manhattan Associates, Inc. (NASDAQ:MANH) saw unusually-high trading volume on Tuesday . Approximately 1,159,917 shares were traded during mid-day trading, an increase of 58% from the previous session’s volume of 733,117 shares.The stock last traded at $172.33 and had previously closed at $177.70.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MANH shares. Loop Capital cut their target price on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Piper Sandler reiterated an “overweight” rating and set a $268.00 price objective (down from $326.00) on shares of Manhattan Associates in a research note on Wednesday, January 29th. DA Davidson dropped their price target on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Truist Financial dropped their target price on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $273.33.

Manhattan Associates Price Performance

The stock has a 50-day moving average price of $268.55 and a 200 day moving average price of $270.39. The firm has a market cap of $10.75 billion, a price-to-earnings ratio of 50.33 and a beta of 1.50.

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total value of $1,001,147.50. Following the sale, the executive vice president now owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. This represents a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Bruce Richards sold 4,150 shares of the stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 22,086 shares in the company, valued at approximately $6,398,976.78. The trade was a 15.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Manhattan Associates

Several hedge funds have recently made changes to their positions in the business. American Century Companies Inc. boosted its position in shares of Manhattan Associates by 3.3% in the fourth quarter. American Century Companies Inc. now owns 859,054 shares of the software maker’s stock worth $232,151,000 after acquiring an additional 27,774 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Manhattan Associates in the 4th quarter valued at about $789,000. Independent Solutions Wealth Management LLC lifted its holdings in shares of Manhattan Associates by 3.8% during the 4th quarter. Independent Solutions Wealth Management LLC now owns 4,886 shares of the software maker’s stock valued at $1,320,000 after acquiring an additional 179 shares in the last quarter. Royal London Asset Management Ltd. acquired a new position in shares of Manhattan Associates during the fourth quarter worth about $919,000. Finally, Xponance Inc. lifted its position in Manhattan Associates by 4.0% during the 4th quarter. Xponance Inc. now owns 17,095 shares of the software maker’s stock worth $4,620,000 after acquiring an additional 657 shares in the last quarter. Institutional investors and hedge funds 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.