Robert W. Baird Issues Pessimistic Forecast for Manhattan Associates (NASDAQ:MANH) Stock Price

Manhattan Associates (NASDAQ:MANH) had its target price cut by equities researchers at Robert W. Baird from $282.00 to $225.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the software maker’s stock. Robert W. Baird’s target price indicates a potential upside of 28.10% from the company’s previous close.

A number of other brokerages have also recently weighed in on MANH. DA Davidson decreased their price target on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. William Blair raised Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Raymond James reduced their price objective on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. Loop Capital lowered their target price on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, Citigroup cut their price target on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a research note on Friday. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $243.78.

Manhattan Associates Stock Up 1.8 %

MANH opened at $175.65 on Tuesday. The firm has a market cap of $10.74 billion, a price-to-earnings ratio of 50.04 and a beta of 1.47. Manhattan Associates has a 52 week low of $163.10 and a 52 week high of $312.60. The business’s 50 day moving average is $213.49 and its two-hundred day moving average is $256.88.

Insider Buying and Selling at Manhattan Associates

In other news, CFO Dennis B. Story sold 2,788 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $170.83, for a total value of $476,274.04. Following the completion of the transaction, the chief financial officer now owns 101,263 shares in the company, valued at $17,298,758.29. This trade represents a 2.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MANH. Massachusetts Financial Services Co. MA grew its holdings in shares of Manhattan Associates by 101.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker’s stock worth $452,321,000 after acquiring an additional 841,276 shares during the period. Norges Bank purchased a new stake in Manhattan Associates during the fourth quarter worth $201,377,000. JPMorgan Chase & Co. grew its holdings in Manhattan Associates by 213.7% in the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock valued at $284,169,000 after purchasing an additional 687,933 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Manhattan Associates by 43.2% in the fourth quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker’s stock valued at $517,917,000 after buying an additional 578,295 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in shares of Manhattan Associates by 2,075.5% during the 4th quarter. Lazard Asset Management LLC now owns 399,066 shares of the software maker’s stock worth $107,842,000 after buying an additional 380,722 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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.