Manhattan Associates (NASDAQ:MANH) Sets New 1-Year Low After Insider Selling

Shares of Manhattan Associates, Inc. (NASDAQ:MANH) reached a new 52-week low during mid-day trading on Monday following insider selling activity. The company traded as low as $165.15 and last traded at $165.70, with a volume of 422328 shares trading hands. The stock had previously closed at $170.73.

Specifically, CFO Dennis B. Story sold 2,788 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $170.83, for a total value of $476,274.04. Following the completion of the transaction, the chief financial officer now owns 101,263 shares of the company’s stock, valued at approximately $17,298,758.29. This trade represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MANH. Citigroup lowered their price objective on shares of Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Loop Capital cut their price objective on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Truist Financial cut their target price on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, William Blair upgraded shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Manhattan Associates presently has an average rating of “Moderate Buy” and an average target price of $273.33.

Manhattan Associates Trading Down 3.0 %

The firm’s 50 day moving average is $223.64 and its two-hundred day moving average is $260.14. The stock has a market cap of $10.12 billion, a price-to-earnings ratio of 47.19 and a beta of 1.47.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Siemens Fonds Invest GmbH acquired a new position in shares of Manhattan Associates during the 4th quarter valued at about $379,000. Park Square Financial Group LLC purchased a new position in Manhattan Associates in the 4th quarter worth approximately $38,000. Menard Financial Group LLC boosted its stake in shares of Manhattan Associates by 28.7% during the 4th quarter. Menard Financial Group LLC now owns 3,115 shares of the software maker’s stock valued at $842,000 after buying an additional 694 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Manhattan Associates during the 4th quarter valued at approximately $11,599,000. Finally, Virtue Capital Management LLC purchased a new position in shares of Manhattan Associates during the 4th quarter valued at approximately $248,000. 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.