Manhattan Associates (NASDAQ:MANH) Price Target Lowered to $184.00 at Citigroup

Manhattan Associates (NASDAQ:MANH) had its price target reduced by Citigroup from $244.00 to $184.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a neutral rating on the software maker’s stock.

A number of other equities analysts have also weighed in on the stock. Loop Capital cut their price objective on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Truist Financial cut their price objective on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Piper Sandler cut their price objective on shares of Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating for the company in a research report on Friday. Raymond James cut their price objective on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research report on Wednesday, January 29th. Finally, StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $252.56.

Manhattan Associates Trading Up 5.5 %

Shares of MANH opened at $172.50 on Friday. The stock has a market cap of $10.54 billion, a P/E ratio of 49.15 and a beta of 1.47. The company has a 50-day moving average of $215.40 and a two-hundred day moving average of $257.50. Manhattan Associates has a 12-month low of $163.10 and a 12-month high of $312.60.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.72% of the stock is owned by insiders.

Institutional Investors Weigh In On Manhattan Associates

Several institutional investors have recently bought and sold shares of the business. Ascent Group LLC grew its stake in Manhattan Associates by 4.8% during the third quarter. Ascent Group LLC now owns 896 shares of the software maker’s stock worth $252,000 after buying an additional 41 shares during the period. Huntington National Bank grew its stake in Manhattan Associates by 5.9% during the third quarter. Huntington National Bank now owns 879 shares of the software maker’s stock worth $247,000 after buying an additional 49 shares during the period. Metis Global Partners LLC grew its stake in Manhattan Associates by 7.0% during the fourth quarter. Metis Global Partners LLC now owns 837 shares of the software maker’s stock worth $226,000 after buying an additional 55 shares during the period. BOKF NA grew its stake in Manhattan Associates by 0.4% during the fourth quarter. BOKF NA now owns 13,271 shares of the software maker’s stock worth $3,522,000 after buying an additional 55 shares during the period. Finally, Kestra Investment Management LLC grew its stake in Manhattan Associates by 2.9% during the fourth quarter. Kestra Investment Management LLC now owns 2,055 shares of the software maker’s stock worth $555,000 after buying an additional 57 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

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.