Manhattan Associates (NASDAQ:MANH) Upgraded to Outperform at William Blair

Manhattan Associates (NASDAQ:MANH) was upgraded by stock analysts at William Blair from a “market perform” rating to an “outperform” rating in a report released on Thursday,Briefing.com Automated Import reports.

Several other research analysts have also recently weighed in on the company. Truist Financial reduced their price objective on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Loop Capital cut their price target on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Piper Sandler restated an “overweight” rating and issued a $268.00 price objective (down previously from $326.00) on shares of Manhattan Associates in a report on Wednesday, January 29th. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Robert W. Baird upped their price objective on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Manhattan Associates presently has a consensus rating of “Moderate Buy” and a consensus price target of $273.33.

Manhattan Associates Trading Up 2.0 %

MANH opened at $181.95 on Thursday. The stock has a market capitalization of $11.11 billion, a P/E ratio of 51.84 and a beta of 1.50. Manhattan Associates has a 12 month low of $169.94 and a 12 month high of $312.60. The firm’s fifty day simple moving average is $263.75 and its 200 day simple moving average is $269.21.

Insider Activity at Manhattan Associates

In related news, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, November 26th. The stock was 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 of the company’s stock, valued at approximately $12,334,137.20. This trade represents a 7.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Bruce Richards sold 4,150 shares of the 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 in the company, 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.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Aviva PLC boosted its stake in shares of Manhattan Associates by 813.9% in the fourth quarter. Aviva PLC now owns 36,730 shares of the software maker’s stock valued at $9,926,000 after buying an additional 32,711 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Manhattan Associates in the 4th quarter valued at $1,433,000. Resona Asset Management Co. Ltd. bought a new stake in shares of Manhattan Associates during the 4th quarter valued at $5,084,000. Prudential PLC grew its holdings in shares of Manhattan Associates by 40.0% during the 4th quarter. Prudential PLC now owns 23,936 shares of the software maker’s stock worth $6,468,000 after purchasing an additional 6,835 shares in the last quarter. Finally, Arete Wealth Advisors LLC grew its holdings in shares of Manhattan Associates by 32.9% during the 4th quarter. Arete Wealth Advisors LLC now owns 985 shares of the software maker’s stock worth $266,000 after purchasing an additional 244 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Company Profile

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.