Brokerages Set Manhattan Associates, Inc. (NASDAQ:MANH) Target Price at $234.86

Manhattan Associates, Inc. (NASDAQ:MANH) has received an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $234.86.

A number of equities research analysts recently commented on the company. DA Davidson raised Manhattan Associates from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $220.00 to $240.00 in a research note on Thursday, April 25th. Rosenblatt Securities reiterated a “neutral” rating and issued a $225.00 price target on shares of Manhattan Associates in a research report on Wednesday, April 24th. Truist Financial boosted their price objective on shares of Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. William Blair reiterated a “market perform” rating on shares of Manhattan Associates in a report on Wednesday, April 24th. Finally, Raymond James boosted their price target on shares of Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st.

Manhattan Associates Stock Performance

MANH opened at $210.76 on Thursday. The company has a fifty day moving average price of $240.00 and a two-hundred day moving average price of $227.03. The firm has a market capitalization of $12.98 billion, a PE ratio of 68.88 and a beta of 1.45. Manhattan Associates has a 52 week low of $166.82 and a 52 week high of $266.94.

Insider Buying and Selling

In related news, CEO Eddie Capel sold 10,897 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the completion of the sale, the chief executive officer now directly owns 242,153 shares of the company’s stock, valued at approximately $59,988,562.69. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Eddie Capel sold 10,897 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the completion of the transaction, the chief executive officer now directly owns 242,153 shares of the company’s stock, valued at approximately $59,988,562.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James Stewart Gantt sold 680 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total transaction of $169,211.20. Following the transaction, the executive vice president now directly owns 57,093 shares of the company’s stock, valued at $14,207,022.12. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

Hedge Funds Weigh In On Manhattan Associates

Several hedge funds have recently made changes to their positions in the business. Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new stake in shares of Manhattan Associates in the 3rd quarter valued at approximately $3,953,000. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Manhattan Associates by 629.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 85,728 shares of the software maker’s stock valued at $16,945,000 after buying an additional 73,975 shares during the last quarter. Xponance Inc. boosted its holdings in shares of Manhattan Associates by 2.0% in the 3rd quarter. Xponance Inc. now owns 14,670 shares of the software maker’s stock valued at $2,900,000 after buying an additional 281 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Manhattan Associates by 1.4% in the 3rd quarter. Raymond James & Associates now owns 203,448 shares of the software maker’s stock valued at $40,214,000 after buying an additional 2,762 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Manhattan Associates by 9.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 1,548 shares of the software maker’s stock valued at $306,000 after buying an additional 129 shares during the last quarter. 98.45% of the stock is owned by 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 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.