Manhattan Associates (NASDAQ:MANH) Given New $184.00 Price Target at Citigroup

Manhattan Associates (NASDAQ:MANH) had its target price trimmed by Citigroup from $244.00 to $184.00 in a research report released on Friday,Benzinga reports. The firm currently has a neutral rating on the software maker’s stock.

A number of other brokerages have also weighed in on MANH. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Truist Financial dropped their target price on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Piper Sandler dropped their target price on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday. Loop Capital dropped their target price on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Finally, Raymond James lowered their price target on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $252.56.

Manhattan Associates Price Performance

Shares of NASDAQ:MANH opened at $172.50 on Friday. The business’s 50-day moving average is $217.41 and its 200 day moving average is $258.16. Manhattan Associates has a 1 year low of $163.10 and a 1 year high of $312.60. The firm has a market capitalization of $10.54 billion, a P/E ratio of 49.15 and a beta of 1.47.

Insider Activity

In other news, CFO Dennis B. Story sold 2,788 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $170.83, for a total value of $476,274.04. Following the transaction, the chief financial officer now owns 101,263 shares in the company, 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 SEC, which is available through this link. Company insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Manhattan Associates

Several hedge funds and other institutional investors have recently made changes to their positions in MANH. Twin Tree Management LP purchased a new position in shares of Manhattan Associates in the fourth quarter valued at approximately $25,000. Whipplewood Advisors LLC purchased a new position in shares of Manhattan Associates in the fourth quarter valued at approximately $34,000. Synergy Asset Management LLC purchased a new position in shares of Manhattan Associates in the fourth quarter valued at approximately $35,000. Park Square Financial Group LLC purchased a new position in Manhattan Associates during the fourth quarter worth approximately $38,000. Finally, Transce3nd LLC acquired a new position in Manhattan Associates during the fourth quarter worth $41,000. Hedge funds and other institutional investors 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.