Manhattan Associates (NASDAQ:MANH) Price Target Cut to $275.00 by Analysts at Loop Capital

Manhattan Associates (NASDAQ:MANH) had its price target cut by Loop Capital from $310.00 to $275.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the software maker’s stock.

MANH has been the topic of a number of other research reports. Raymond James cut their price target on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research note on Wednesday. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. DA Davidson decreased their price objective on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday. Truist Financial decreased their price objective on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Piper Sandler restated an “overweight” rating and issued a $268.00 price target (down from $326.00) on shares of Manhattan Associates in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $273.33.

Manhattan Associates Trading Down 2.6 %

NASDAQ:MANH opened at $208.59 on Wednesday. The business’s 50-day moving average price is $279.60 and its two-hundred day moving average price is $271.32. Manhattan Associates has a 1-year low of $205.12 and a 1-year high of $312.60. The firm has a market capitalization of $12.74 billion, a price-to-earnings ratio of 59.43 and a beta of 1.52.

Insider Buying and Selling at Manhattan Associates

In related news, EVP James Stewart Gantt sold 3,475 shares of the stock in a transaction 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 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 at the SEC website. Also, SVP Bruce Richards sold 4,150 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the sale, the senior vice president now owns 22,086 shares in the company, valued at approximately $6,398,976.78. The trade was a 15.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MANH. Massachusetts Financial Services Co. MA purchased a new stake in shares of Manhattan Associates during the third quarter valued at $234,249,000. JPMorgan Chase & Co. increased its holdings in shares of Manhattan Associates by 213.7% during the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock valued at $284,169,000 after acquiring an additional 687,933 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Manhattan Associates by 275.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 486,750 shares of the software maker’s stock valued at $131,539,000 after acquiring an additional 357,172 shares in the last quarter. Swedbank AB increased its holdings in shares of Manhattan Associates by 1,840.3% during the fourth quarter. Swedbank AB now owns 369,019 shares of the software maker’s stock valued at $99,724,000 after acquiring an additional 350,000 shares in the last quarter. Finally, AustralianSuper Pty Ltd boosted its position in Manhattan Associates by 968.0% in the fourth quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker’s stock valued at $62,890,000 after buying an additional 210,929 shares during the last quarter. 98.45% of the stock is 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.