Manhattan Associates (NASDAQ:MANH) Sets New 12-Month Low – Should You Sell?

Manhattan Associates, Inc. (NASDAQ:MANH) shares hit a new 52-week low on Thursday . The company traded as low as $162.00 and last traded at $162.83, with a volume of 142771 shares traded. The stock had previously closed at $178.89.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MANH. William Blair raised shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 13th. Raymond James cut 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. Citigroup lowered their price target on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Loop Capital cut their price objective on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, Piper Sandler decreased their target price on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday, March 14th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $243.78.

Manhattan Associates Trading Down 6.0 %

The stock has a market capitalization of $9.29 billion, a P/E ratio of 43.32 and a beta of 1.47. The business has a 50-day moving average price of $184.74 and a two-hundred day moving average price of $248.36.

Insiders Place Their Bets

In related news, CFO Dennis B. Story sold 2,788 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now directly owns 101,263 shares in the company, valued at $17,298,758.29. This represents a 2.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Manhattan Associates by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 6,702,557 shares of the software maker’s stock valued at $1,811,299,000 after purchasing an additional 50,538 shares during the last quarter. FMR LLC grew its stake in shares of Manhattan Associates by 16.2% during the fourth quarter. FMR LLC now owns 2,227,669 shares of the software maker’s stock worth $602,005,000 after buying an additional 310,257 shares during the last quarter. State Street Corp grew its stake in shares of Manhattan Associates by 0.6% during the third quarter. State Street Corp now owns 2,203,139 shares of the software maker’s stock worth $619,918,000 after buying an additional 12,787 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Manhattan Associates by 43.2% during the fourth quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker’s stock worth $517,917,000 after buying an additional 578,295 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Manhattan Associates by 3.1% in the 4th quarter. Invesco Ltd. now owns 1,861,160 shares of the software maker’s stock valued at $502,960,000 after acquiring an additional 55,334 shares during the last quarter. 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.