DA Davidson Raises Manhattan Associates (NASDAQ:MANH) Price Target to $225.00

Manhattan Associates (NASDAQ:MANH) had its price objective raised by research analysts at DA Davidson from $200.00 to $225.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. DA Davidson’s price objective indicates a potential upside of 20.01% from the company’s current price.

Several other research analysts have also issued reports on the company. Raymond James reduced their target price on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. William Blair raised Manhattan Associates from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 13th. Truist Financial upped their target price on Manhattan Associates from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Piper Sandler reduced their target price on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, March 14th. Finally, Citigroup reduced their target price 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. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $210.14.

Manhattan Associates Trading Down 0.3%

MANH opened at $187.49 on Wednesday. The firm has a market cap of $11.38 billion, a price-to-earnings ratio of 53.42 and a beta of 1.13. Manhattan Associates has a 12 month low of $140.81 and a 12 month high of $312.60. The stock has a fifty day moving average price of $174.01 and a 200-day moving average price of $221.82.

Insider Buying and Selling at Manhattan Associates

In other news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $170.83, for a total transaction of $476,274.04. Following the sale, the chief financial officer now owns 101,263 shares in the company, valued at approximately $17,298,758.29. The trade was a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.88% of the stock is owned by insiders.

Hedge Funds Weigh In On Manhattan Associates

Several institutional investors have recently added to or reduced their stakes in the stock. Tokio Marine Asset Management Co. Ltd. purchased a new stake in shares of Manhattan Associates during the 4th quarter worth approximately $3,890,000. GDS Wealth Management boosted its stake in shares of Manhattan Associates by 281.4% during the 4th quarter. GDS Wealth Management now owns 6,347 shares of the software maker’s stock worth $1,715,000 after acquiring an additional 4,683 shares in the last quarter. AustralianSuper Pty Ltd boosted its stake in shares of Manhattan Associates by 968.0% during the 4th quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker’s stock worth $62,890,000 after acquiring an additional 210,929 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Manhattan Associates during the 4th quarter worth approximately $1,200,000. Finally, Smith Group Asset Management LLC boosted its stake in shares of 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 worth $25,195,000 after acquiring an additional 1,641 shares in the last quarter. Institutional investors and hedge funds 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.