Manhattan Associates (NASDAQ:MANH) Sees Large Volume Increase – Time to Buy?

Manhattan Associates, Inc. (NASDAQ:MANH) saw strong trading volume on Tuesday . 1,159,917 shares traded hands during mid-day trading, an increase of 58% from the previous session’s volume of 733,117 shares.The stock last traded at $172.33 and had previously closed at $177.70.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MANH shares. Piper Sandler reiterated an “overweight” rating and issued a $268.00 price objective (down previously from $326.00) on shares of Manhattan Associates in a research report on Wednesday, January 29th. Raymond James lowered their target price 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, January 29th. Truist Financial lowered their target price on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Robert W. Baird boosted their price objective on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $273.33.

Manhattan Associates Trading Down 1.0 %

The firm’s 50-day moving average price is $268.55 and its 200-day moving average price is $270.39. The stock has a market capitalization of $10.75 billion, a PE ratio of 50.33 and a beta of 1.50.

Insiders Place Their Bets

In other news, EVP James Stewart Gantt sold 3,475 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total value 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Bruce Richards sold 4,150 shares of the business’s stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 22,086 shares of the company’s stock, valued at $6,398,976.78. This represents a 15.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Cetera Investment Advisers increased its stake in Manhattan Associates by 9.0% during the 2nd quarter. Cetera Investment Advisers now owns 4,240 shares of the software maker’s stock valued at $1,046,000 after purchasing an additional 349 shares in the last quarter. CWM LLC increased its holdings in shares of Manhattan Associates by 44.5% in the third quarter. CWM LLC now owns 3,648 shares of the software maker’s stock valued at $1,026,000 after purchasing an additional 1,124 shares during the period. UMB Bank n.a. increased its holdings in Manhattan Associates by 16.7% in the 3rd quarter. UMB Bank n.a. now owns 301 shares of the software maker’s stock worth $85,000 after buying an additional 43 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Manhattan Associates by 247.9% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 421 shares of the software maker’s stock worth $118,000 after buying an additional 300 shares during the period. Finally, Redhawk Wealth Advisors Inc. increased its stake in shares of Manhattan Associates by 8.3% in the third quarter. Redhawk Wealth Advisors Inc. now owns 5,075 shares of the software maker’s stock worth $1,428,000 after acquiring an additional 388 shares during the period. 98.45% of the stock is owned by institutional investors and hedge funds.

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.