Manhattan Associates (NASDAQ:MANH) Given New $303.00 Price Target at Citigroup

Manhattan Associates (NASDAQ:MANHFree Report) had its price objective reduced by Citigroup from $306.00 to $303.00 in a research note issued to investors on Monday,Benzinga reports. Citigroup currently has a neutral rating on the software maker’s stock.

Other research analysts also recently issued research reports about the stock. Piper Sandler initiated coverage on shares of Manhattan Associates in a research report on Monday, November 25th. They issued an “overweight” rating and a $326.00 price target on the stock. DA Davidson boosted their price target on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Raymond James boosted their price target on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Robert W. Baird boosted their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Finally, StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $292.56.

Read Our Latest Stock Analysis on MANH

Manhattan Associates Price Performance

NASDAQ:MANH opened at $288.23 on Monday. The firm’s 50 day simple moving average is $282.68 and its 200 day simple moving average is $271.91. Manhattan Associates has a one year low of $205.12 and a one year high of $312.60. The company has a market cap of $17.61 billion, a PE ratio of 81.88 and a beta of 1.52.

Insider Activity

In other Manhattan Associates news, EVP James Stewart Gantt sold 3,475 shares of the business’s stock in a transaction 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 completion of the sale, the executive vice president now 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Bruce Richards sold 4,150 shares of the business’s stock in a transaction on Friday, November 29th. The shares were 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 of the company’s stock, valued at $6,398,976.78. This trade represents a 15.82 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

Institutional Trading of Manhattan Associates

A number of hedge funds and other institutional investors have recently bought and sold shares of MANH. Bank of Montreal Can increased its stake in Manhattan Associates by 7.5% during the 2nd quarter. Bank of Montreal Can now owns 19,594 shares of the software maker’s stock valued at $4,845,000 after purchasing an additional 1,359 shares in the last quarter. Toronto Dominion Bank boosted its holdings in Manhattan Associates by 2.1% during the 2nd quarter. Toronto Dominion Bank now owns 5,992 shares of the software maker’s stock worth $1,478,000 after acquiring an additional 121 shares during the last quarter. APG Asset Management N.V. boosted its holdings in Manhattan Associates by 19.0% during the 2nd quarter. APG Asset Management N.V. now owns 31,543 shares of the software maker’s stock worth $7,260,000 after acquiring an additional 5,027 shares during the last quarter. MBB Public Markets I LLC purchased a new position in Manhattan Associates during the 2nd quarter worth $1,121,000. Finally, Mackenzie Financial Corp boosted its holdings in Manhattan Associates by 4.9% during the 2nd quarter. Mackenzie Financial Corp now owns 35,860 shares of the software maker’s stock worth $8,846,000 after acquiring an additional 1,676 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Company Profile

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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.

Further Reading

Analyst Recommendations for Manhattan Associates (NASDAQ:MANH)

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