Manhattan Associates (NASDAQ:MANH) Price Target Lowered to $200.00 at Piper Sandler

Manhattan Associates (NASDAQ:MANH) had its price objective lowered by equities research analysts at Piper Sandler from $268.00 to $200.00 in a report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the software maker’s stock. Piper Sandler’s target price suggests a potential upside of 15.94% from the company’s previous close.

A number of other analysts have also recently weighed in on the company. Raymond James cut their price target on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. Truist Financial decreased their target price on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Citigroup reduced their price objective on shares of Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Finally, Loop Capital cut their price target on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research note 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 data from MarketBeat.com, Manhattan Associates has a consensus rating of “Moderate Buy” and an average target price of $252.56.

Manhattan Associates Trading Up 5.5 %

Shares of MANH opened at $172.50 on Friday. The firm has a market capitalization of $10.54 billion, a price-to-earnings ratio of 49.15 and a beta of 1.47. The firm’s fifty day simple moving average is $215.40 and its 200-day simple moving average is $257.51. Manhattan Associates has a twelve month low of $163.10 and a twelve month high of $312.60.

Insider Buying and Selling

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the company’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 directly owns 101,263 shares of the company’s stock, valued at $17,298,758.29. This represents a 2.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of MANH. Siemens Fonds Invest GmbH purchased a new position in Manhattan Associates in the 4th quarter valued at $379,000. Park Square Financial Group LLC acquired a new stake in shares of Manhattan Associates in the 4th quarter worth $38,000. Menard Financial Group LLC boosted its holdings in shares of Manhattan Associates by 28.7% in the fourth quarter. Menard Financial Group LLC now owns 3,115 shares of the software maker’s stock valued at $842,000 after acquiring an additional 694 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Manhattan Associates during the fourth quarter worth about $11,599,000. Finally, Virtue Capital Management LLC purchased a new position in Manhattan Associates during the fourth quarter worth about $248,000. 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.