Manhattan Associates (NASDAQ:MANH) Stock Rating Upgraded by DA Davidson

Manhattan Associates (NASDAQ:MANH) was upgraded by equities research analysts at DA Davidson to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Several other equities research analysts have also issued reports on the company. Piper Sandler lowered their price objective on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, March 14th. Raymond James reduced their price target on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research report on Wednesday, January 29th. Robert W. Baird lowered their price target on Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating for the company in a report on Tuesday, March 18th. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Citigroup dropped their target price on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Manhattan Associates currently has an average rating of “Moderate Buy” and an average target price of $243.78.

Manhattan Associates Stock Performance

MANH opened at $177.97 on Monday. The firm’s fifty day moving average is $203.99 and its 200 day moving average is $253.88. Manhattan Associates has a fifty-two week low of $163.10 and a fifty-two week high of $312.60. The stock has a market cap of $10.88 billion, a price-to-earnings ratio of 50.70 and a beta of 1.47.

Insider Buying and Selling

In related news, CFO Dennis B. Story sold 2,788 shares of the stock in a transaction 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 sale, the chief financial officer now owns 101,263 shares of the company’s stock, valued at $17,298,758.29. This trade represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Manhattan Associates

A number of institutional investors have recently bought and sold shares of the stock. Twin Tree Management LP acquired a new position in shares of Manhattan Associates during the fourth quarter worth $25,000. Whipplewood Advisors LLC acquired a new position in shares of Manhattan Associates in the 4th quarter worth approximately $34,000. Synergy Asset Management LLC acquired a new stake in shares of Manhattan Associates during the 4th quarter valued at approximately $35,000. Park Square Financial Group LLC bought a new position in Manhattan Associates during the fourth quarter worth $38,000. Finally, Transce3nd LLC bought a new stake in Manhattan Associates during the fourth quarter valued at $41,000. 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.