Manhattan Associates (NASDAQ:MANH) Price Target Cut to $303.00 by Analysts at Citigroup

Manhattan Associates (NASDAQ:MANH) had its price target cut by research analysts at Citigroup from $306.00 to $303.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the software maker’s stock. Citigroup’s price target would indicate a potential upside of 6.95% from the company’s previous close.

A number of other brokerages also recently commented on MANH. Robert W. Baird boosted their target price 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. Truist Financial boosted their target price on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Raymond James upped their price objective on shares of Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Piper Sandler began coverage on shares of Manhattan Associates in a report on Monday, November 25th. They set an “overweight” rating and a $326.00 price objective on the stock. Finally, DA Davidson upped their price objective on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $292.56.

Manhattan Associates Stock Performance

Shares of Manhattan Associates stock opened at $283.31 on Monday. The company has a market capitalization of $17.30 billion, a PE ratio of 80.47 and a beta of 1.52. The company has a 50-day simple moving average of $282.35 and a two-hundred day simple moving average of $271.58. Manhattan Associates has a one year low of $205.12 and a one year high of $312.60.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, SVP Bruce Richards sold 4,150 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $289.73, for a total value of $1,202,379.50. Following the sale, the senior vice president now owns 22,086 shares in the company, valued at approximately $6,398,976.78. This represents a 15.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was 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. This represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Institutional Investors Weigh In On Manhattan Associates

Several hedge funds have recently bought and sold shares of MANH. Oak Thistle LLC purchased a new position in shares of Manhattan Associates during the 4th quarter valued at approximately $1,326,000. GAMMA Investing LLC lifted its position in shares of Manhattan Associates by 47.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,186 shares of the software maker’s stock valued at $334,000 after buying an additional 382 shares in the last quarter. Mediolanum International Funds Ltd lifted its position in shares of Manhattan Associates by 602.0% during the 3rd quarter. Mediolanum International Funds Ltd now owns 20,042 shares of the software maker’s stock valued at $5,607,000 after buying an additional 17,187 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Manhattan Associates by 213.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock valued at $284,169,000 after buying an additional 687,933 shares in the last quarter. Finally, Chartwell Investment Partners LLC lifted its position in shares of Manhattan Associates by 31.1% during the 3rd quarter. Chartwell Investment Partners LLC now owns 21,557 shares of the software maker’s stock valued at $6,065,000 after buying an additional 5,119 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.