Manhattan Associates, Inc. (NASDAQ:MANH) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Manhattan Associates, Inc. (NASDAQ:MANH) have been assigned a consensus rating of “Moderate Buy” from the five analysts that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $211.33.

A number of research analysts have recently issued reports on the company. Raymond James increased their target price on Manhattan Associates from $165.00 to $214.00 and gave the company an “outperform” rating in a research report on Wednesday, July 26th. Truist Financial lifted their price objective on Manhattan Associates from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. Rosenblatt Securities increased their target price on Manhattan Associates from $196.00 to $200.00 and gave the company a “neutral” rating in a report on Wednesday, October 25th. DA Davidson lifted their price target on Manhattan Associates from $160.00 to $175.00 in a research note on Wednesday, July 26th. Finally, StockNews.com assumed coverage on Manhattan Associates in a research report on Thursday, October 5th. They set a “buy” rating for the company.

Manhattan Associates Stock Performance

Shares of NASDAQ MANH opened at $200.89 on Friday. The company has a market capitalization of $12.37 billion, a PE ratio of 76.09 and a beta of 1.51. The company’s fifty day moving average price is $198.74 and its 200 day moving average price is $188.91. Manhattan Associates has a 1 year low of $107.18 and a 1 year high of $211.81.

Insider Buying and Selling

In other Manhattan Associates news, Director John J. Huntz, Jr. sold 11,815 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $202.95, for a total value of $2,397,854.25. Following the sale, the director now owns 53,096 shares of the company’s stock, valued at $10,775,833.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Deepak Raghavan sold 2,179 shares of Manhattan Associates stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $201.88, for a total value of $439,896.52. Following the completion of the transaction, the director now owns 20,551 shares in the company, valued at $4,148,835.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John J. Huntz, Jr. sold 11,815 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $202.95, for a total transaction of $2,397,854.25. Following the sale, the director now owns 53,096 shares in the company, valued at $10,775,833.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,794 shares of company stock valued at $3,179,751. Company insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Manhattan Associates

Several institutional investors have recently modified their holdings of MANH. Convergence Investment Partners LLC increased its holdings in Manhattan Associates by 6.9% in the third quarter. Convergence Investment Partners LLC now owns 1,826 shares of the software maker’s stock valued at $361,000 after buying an additional 118 shares during the last quarter. California Public Employees Retirement System raised its position in shares of Manhattan Associates by 184.3% during the 3rd quarter. California Public Employees Retirement System now owns 352,665 shares of the software maker’s stock worth $69,708,000 after acquiring an additional 228,618 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Manhattan Associates by 140.0% during the third quarter. Nisa Investment Advisors LLC now owns 16,294 shares of the software maker’s stock worth $3,221,000 after purchasing an additional 9,506 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in Manhattan Associates in the third quarter valued at approximately $791,000. Finally, Elite Wealth Management Inc. increased its stake in Manhattan Associates by 39.2% in the third quarter. Elite Wealth Management Inc. now owns 12,691 shares of the software maker’s stock valued at $2,509,000 after purchasing an additional 3,574 shares during the last quarter. 97.85% of the stock is owned by hedge funds and other institutional investors.

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 Manhattan SCALE, a portfolio of logistics execution solutions that provide trading partner management, yard management, optimization, warehouse management, and transportation execution services; and Manhattan Active, a set of enterprise and omnichannel solution, which include enterprise solutions and omnichannel solutions for store.