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

Manhattan Associates (NASDAQ:MANH) had its price target lowered by Truist Financial from $310.00 to $285.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the software maker’s stock.

Other analysts also recently issued research reports about the stock. Raymond James lifted their price target on shares of Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Citigroup decreased their target price on shares of Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Robert W. Baird raised their price target 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. DA Davidson boosted their price objective on Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Manhattan Associates has an average rating of “Moderate Buy” and an average price target of $273.33.

Manhattan Associates Stock Performance

Shares of NASDAQ:MANH opened at $208.59 on Wednesday. Manhattan Associates has a 52-week low of $205.12 and a 52-week high of $312.60. The business’s 50 day simple moving average is $279.60 and its two-hundred day simple moving average is $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.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 3,475 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total value of $1,001,147.50. Following the completion of the sale, the executive vice president now directly owns 42,812 shares of the company’s stock, valued at $12,334,137.20. This trade represents a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Bruce Richards sold 4,150 shares of the company’s 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 transaction, the senior vice president now directly owns 22,086 shares in the company, valued at $6,398,976.78. This represents a 15.82 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Institutional Trading of Manhattan Associates

A number of institutional investors have recently modified their holdings of MANH. Fidelis Capital Partners LLC raised its holdings in Manhattan Associates by 3.2% during the 3rd quarter. Fidelis Capital Partners LLC now owns 1,279 shares of the software maker’s stock valued at $347,000 after acquiring an additional 40 shares during the period. Ascent Group LLC boosted its stake in Manhattan Associates by 4.8% in the 3rd quarter. Ascent Group LLC now owns 896 shares of the software maker’s stock worth $252,000 after purchasing an additional 41 shares during the period. UMB Bank n.a. grew its holdings in 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 buying an additional 43 shares in the last quarter. Huntington National Bank increased its position in shares of Manhattan Associates by 5.9% during the third quarter. Huntington National Bank now owns 879 shares of the software maker’s stock valued at $247,000 after buying an additional 49 shares during the period. Finally, Kestra Investment Management LLC increased its position 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 valued at $555,000 after buying an additional 57 shares during the period. 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.