Piper Sandler Reaffirms “Overweight” Rating for Manhattan Associates (NASDAQ:MANH)

Piper Sandler reissued their overweight rating on shares of Manhattan Associates (NASDAQ:MANH) in a research report report published on Wednesday,Benzinga reports. The firm currently has a $268.00 target price on the software maker’s stock, down from their previous target price of $326.00.

A number of other equities research analysts also recently weighed in on the company. Truist Financial cut their target price on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Raymond James lifted their target price on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. DA Davidson upped their price target on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Citigroup lowered their price objective on shares of Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $273.33.

Manhattan Associates Trading Down 2.6 %

Shares of NASDAQ:MANH opened at $208.59 on Wednesday. The company has a 50 day moving average of $279.60 and a 200-day moving average of $271.32. The firm has a market cap of $12.74 billion, a P/E ratio of 59.43 and a beta of 1.52. Manhattan Associates has a twelve month low of $205.12 and a twelve month high of $312.60.

Insider Activity

In other Manhattan Associates news, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Bruce Richards sold 4,150 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $289.73, for a total value of $1,202,379.50. Following the completion of the sale, the senior vice president now owns 22,086 shares of the company’s stock, valued at $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 owned by company insiders.

Hedge Funds Weigh In On Manhattan Associates

Several institutional investors and hedge funds have recently bought and sold shares of MANH. Fidelis Capital Partners LLC boosted its holdings in shares of Manhattan Associates by 3.2% during the third quarter. Fidelis Capital Partners LLC now owns 1,279 shares of the software maker’s stock worth $347,000 after purchasing an additional 40 shares during the period. Ascent Group LLC boosted its stake in shares of Manhattan Associates by 4.8% during the 3rd quarter. Ascent Group LLC now owns 896 shares of the software maker’s stock valued at $252,000 after buying an additional 41 shares during the period. UMB Bank n.a. grew its holdings in shares of Manhattan Associates by 16.7% during the 3rd quarter. UMB Bank n.a. now owns 301 shares of the software maker’s stock valued at $85,000 after acquiring an additional 43 shares in the last quarter. Huntington National Bank increased its stake in shares of Manhattan Associates by 5.9% in the third quarter. Huntington National Bank now owns 879 shares of the software maker’s stock worth $247,000 after acquiring an additional 49 shares during the last quarter. Finally, Kestra Investment Management LLC raised its holdings in shares of 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 acquiring an additional 57 shares in the last quarter. Hedge funds and other 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.