Manhattan Associates (NASDAQ:MANH – Get Free Report) had its price target reduced by analysts at Raymond James from $305.00 to $270.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the software maker’s stock. Raymond James’ target price points to a potential upside of 26.09% from the company’s current price.
MANH has been the topic of several other research reports. Piper Sandler restated an “overweight” rating and set a $268.00 target price (down previously from $326.00) on shares of Manhattan Associates in a research note on Wednesday. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. DA Davidson lifted their target price on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Robert W. Baird increased their price target on Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Finally, Truist Financial cut their price objective on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $273.33.
Check Out Our Latest Report on Manhattan Associates
Manhattan Associates Price Performance
Insider Buying and Selling at Manhattan Associates
In related news, EVP James Stewart Gantt sold 3,475 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the transaction, the executive vice president now directly owns 42,812 shares in the company, valued at approximately $12,334,137.20. The trade was a 7.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Bruce Richards sold 4,150 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the sale, the senior vice president now owns 22,086 shares in the company, valued at approximately $6,398,976.78. The trade was a 15.82 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. State Street Corp lifted its position in shares of Manhattan Associates by 0.6% in the third quarter. State Street Corp now owns 2,203,139 shares of the software maker’s stock valued at $619,918,000 after acquiring an additional 12,787 shares in the last quarter. FMR LLC raised its stake in Manhattan Associates by 7.3% during the 3rd quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock valued at $539,521,000 after purchasing an additional 130,817 shares during the period. Geode Capital Management LLC lifted its holdings in Manhattan Associates by 5.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,514,941 shares of the software maker’s stock worth $426,308,000 after purchasing an additional 82,995 shares in the last quarter. JPMorgan Chase & Co. boosted 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 during the period. Finally, Massachusetts Financial Services Co. MA purchased a new stake in Manhattan Associates during the 3rd quarter valued at approximately $234,249,000. Institutional investors 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.
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