Piper Sandler Cuts Manhattan Associates (NASDAQ:MANH) Price Target to $200.00

Manhattan Associates (NASDAQ:MANH) had its target price lowered by Piper Sandler from $268.00 to $200.00 in a report released on Friday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the software maker’s stock.

MANH has been the subject of several other reports. William Blair upgraded shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 13th. Raymond James lowered their target price on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. Truist Financial lowered their target price on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Loop Capital lowered their target price on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Finally, DA Davidson lowered their target price on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $252.56.

Manhattan Associates Stock Performance

NASDAQ MANH opened at $172.50 on Friday. The firm’s 50 day moving average price is $215.40 and its 200-day moving average price is $257.50. Manhattan Associates has a 52-week low of $163.10 and a 52-week high of $312.60. The company has a market cap of $10.54 billion, a PE ratio of 49.15 and a beta of 1.47.

Insider Buying and Selling

In related news, CFO Dennis B. Story sold 2,788 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $170.83, for a total transaction 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 $17,298,758.29. This trade represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Twin Tree Management LP purchased a new position in shares of Manhattan Associates during the fourth quarter worth $25,000. Synergy Asset Management LLC purchased a new position in Manhattan Associates in the fourth quarter valued at $35,000. Whipplewood Advisors LLC purchased a new position in Manhattan Associates in the fourth quarter valued at $34,000. Park Square Financial Group LLC purchased a new position in Manhattan Associates in the fourth quarter valued at $38,000. Finally, Transce3nd LLC purchased a new position in Manhattan Associates in the fourth quarter valued at $41,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

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.