Loop Capital Has Lowered Expectations for Manhattan Associates (NASDAQ:MANH) Stock Price

Manhattan Associates (NASDAQ:MANH) had its price target lowered by Loop Capital from $310.00 to $275.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the software maker’s stock.

Several other research firms have also recently weighed in on MANH. Robert W. Baird increased their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Citigroup reduced their price objective on Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating for the company in a research report on Monday. DA Davidson cut their target price on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a research note on Wednesday. Raymond James reduced their target price on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Truist Financial lowered their price target on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Manhattan Associates presently has a consensus rating of “Moderate Buy” and a consensus price target of $273.33.

Manhattan Associates Price Performance

Shares of Manhattan Associates stock opened at $222.84 on Wednesday. The company has a market cap of $13.61 billion, a PE ratio of 63.31 and a beta of 1.52. The firm has a fifty day moving average price of $282.19 and a two-hundred day moving average price of $271.95. Manhattan Associates has a fifty-two week low of $205.12 and a fifty-two week high of $312.60.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 3,475 shares of the firm’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. This trade represents a 7.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $1,202,379.50. Following the transaction, the senior vice president now owns 22,086 shares in the company, valued at $6,398,976.78. The trade was a 15.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MANH. Oak Thistle LLC acquired a new stake in shares of Manhattan Associates in the 4th quarter valued at $1,326,000. GAMMA Investing LLC boosted its holdings in Manhattan Associates by 47.5% in the third quarter. GAMMA Investing LLC now owns 1,186 shares of the software maker’s stock valued at $334,000 after acquiring an additional 382 shares during the last quarter. Mediolanum International Funds Ltd increased its position in Manhattan Associates by 602.0% in the third quarter. Mediolanum International Funds Ltd now owns 20,042 shares of the software maker’s stock worth $5,607,000 after purchasing an additional 17,187 shares during the period. JPMorgan Chase & Co. raised its holdings in Manhattan Associates by 213.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock worth $284,169,000 after purchasing an additional 687,933 shares during the last quarter. Finally, Smith Group Asset Management LLC lifted its position in Manhattan Associates by 1.8% during the 4th quarter. Smith Group Asset Management LLC now owns 93,232 shares of the software maker’s stock valued at $25,195,000 after purchasing an additional 1,641 shares during the period. Institutional investors 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.