Truist Financial Issues Pessimistic Forecast for Manhattan Associates (NASDAQ:MANH) Stock Price

Manhattan Associates (NASDAQ:MANH) had its price objective cut by analysts at Truist Financial from $310.00 to $285.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. Truist Financial’s target price suggests a potential downside of 3.42% from the stock’s current price.

A number of other equities research analysts have also commented on MANH. DA Davidson upped their price target on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Robert W. Baird increased their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Raymond James increased their price objective on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Piper Sandler assumed coverage on shares of Manhattan Associates in a report on Monday, November 25th. They issued an “overweight” rating and a $326.00 target price on the stock. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Manhattan Associates has a consensus rating of “Moderate Buy” and a consensus price target of $289.78.

Manhattan Associates Price Performance

Shares of NASDAQ MANH opened at $295.10 on Wednesday. Manhattan Associates has a 1 year low of $205.12 and a 1 year high of $312.60. The firm has a market cap of $18.02 billion, a PE ratio of 83.84 and a beta of 1.52. The company has a 50 day simple moving average of $283.17 and a 200 day simple moving average of $272.29.

Insider Buying and Selling

In other Manhattan Associates news, SVP Bruce Richards sold 4,150 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $289.73, for a total value of $1,202,379.50. Following the transaction, the senior vice president now owns 22,086 shares of the company’s stock, valued at approximately $6,398,976.78. The trade was a 15.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James Stewart Gantt sold 3,475 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the sale, the executive vice president now directly owns 42,812 shares in the company, valued at approximately $12,334,137.20. This trade represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MANH. State Street Corp raised its position in Manhattan Associates by 0.6% during the 3rd quarter. State Street Corp now owns 2,203,139 shares of the software maker’s stock valued at $619,918,000 after purchasing an additional 12,787 shares during the last quarter. FMR LLC increased its stake in shares of Manhattan Associates by 7.3% during the third quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock valued at $539,521,000 after buying an additional 130,817 shares during the period. Geode Capital Management LLC raised its holdings in shares of Manhattan Associates by 5.8% during the third quarter. Geode Capital Management LLC now owns 1,514,941 shares of the software maker’s stock valued at $426,308,000 after acquiring an additional 82,995 shares in the last quarter. JPMorgan Chase & Co. lifted its stake 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 worth $284,169,000 after acquiring an additional 687,933 shares during the period. Finally, Massachusetts Financial Services Co. MA bought a new stake in Manhattan Associates in the third quarter valued at $234,249,000. Institutional investors 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.