Manhattan Associates (NASDAQ:MANH) Price Target Cut to $225.00 by Analysts at Robert W. Baird

Manhattan Associates (NASDAQ:MANH) had its price target decreased by Robert W. Baird from $282.00 to $225.00 in a report issued on Tuesday,Benzinga reports. Robert W. Baird currently has an outperform rating on the software maker’s stock.

Several other research analysts have also issued reports on the stock. Loop Capital lowered their price target on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Piper Sandler lowered their price objective on shares of Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, March 14th. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. DA Davidson lowered their price objective 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. Finally, William Blair upgraded shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Manhattan Associates currently has a consensus rating of “Moderate Buy” and an average price target of $243.78.

Manhattan Associates Price Performance

Shares of NASDAQ MANH opened at $172.78 on Tuesday. The company has a 50 day simple moving average of $211.58 and a 200 day simple moving average of $256.24. The firm has a market cap of $10.56 billion, a PE ratio of 49.23 and a beta of 1.47. Manhattan Associates has a 1 year low of $163.10 and a 1 year high of $312.60.

Insider Activity

In other news, CFO Dennis B. Story sold 2,788 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was 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 approximately $17,298,758.29. The trade was a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. 111 Capital purchased a new position in shares of Manhattan Associates during the fourth quarter worth about $215,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Manhattan Associates by 10.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,792 shares of the software maker’s stock valued at $755,000 after buying an additional 257 shares during the last quarter. Siemens Fonds Invest GmbH purchased a new stake in shares of Manhattan Associates during the 4th quarter worth approximately $379,000. Park Square Financial Group LLC bought a new position in shares of Manhattan Associates during the 4th quarter valued at approximately $38,000. Finally, Menard Financial Group LLC grew its position 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 worth $842,000 after buying an additional 694 shares in the last quarter. 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.