Citigroup Reiterates “Neutral” Rating for Manhattan Associates (NASDAQ:MANH)

Manhattan Associates (NASDAQ:MANH)‘s stock had its “neutral” rating reissued by equities researchers at Citigroup in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. They presently have a $200.00 target price on the software maker’s stock, up from their previous target price of $177.00. Citigroup’s price target would indicate a potential downside of 1.91% from the company’s current price.

Several other research firms have also recently commented on MANH. Robert W. Baird boosted their price objective on shares of Manhattan Associates from $212.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday. Loop Capital reaffirmed a “hold” rating and issued a $170.00 target price (down from $275.00) on shares of Manhattan Associates in a report on Thursday, April 10th. Truist Financial upped their target price on shares of Manhattan Associates from $190.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, May 22nd. Redburn Atlantic lowered shares of Manhattan Associates from a “buy” rating to a “neutral” rating and decreased their price target for the company from $270.00 to $200.00 in a research note on Tuesday, June 10th. Finally, DA Davidson increased their target price on shares of Manhattan Associates from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $210.56.

Manhattan Associates Price Performance

MANH stock opened at $203.90 on Wednesday. The company has a 50 day moving average price of $193.22 and a 200 day moving average price of $196.35. Manhattan Associates has a fifty-two week low of $140.81 and a fifty-two week high of $312.60. The stock has a market capitalization of $12.38 billion, a PE ratio of 58.26 and a beta of 1.08.

Institutional Trading of Manhattan Associates

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Manhattan Associates by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 6,702,557 shares of the software maker’s stock valued at $1,811,299,000 after acquiring an additional 50,538 shares during the last quarter. FMR LLC lifted its holdings in Manhattan Associates by 16.2% during the fourth quarter. FMR LLC now owns 2,227,669 shares of the software maker’s stock valued at $602,005,000 after purchasing an additional 310,257 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Manhattan Associates by 43.2% during the fourth quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker’s stock valued at $517,917,000 after buying an additional 578,295 shares during the last quarter. Invesco Ltd. raised its position in shares of Manhattan Associates by 3.1% during the fourth quarter. Invesco Ltd. now owns 1,861,160 shares of the software maker’s stock valued at $502,960,000 after buying an additional 55,334 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Manhattan Associates by 101.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker’s stock valued at $452,321,000 after buying an additional 841,276 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

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.