Citigroup Cuts Manhattan Associates (NASDAQ:MANH) Price Target to $184.00

Manhattan Associates (NASDAQ:MANH) had its price objective trimmed by Citigroup from $244.00 to $184.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has a neutral rating on the software maker’s stock.

A number of other analysts have also recently weighed in on the stock. William Blair upgraded shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 13th. Piper Sandler decreased their price target on shares of Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. DA Davidson decreased their price target on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Finally, Raymond James decreased their price target on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Manhattan Associates has an average rating of “Moderate Buy” and an average target price of $252.56.

Manhattan Associates Price Performance

Shares of NASDAQ:MANH opened at $172.50 on Friday. The stock has a market cap of $10.54 billion, a P/E ratio of 49.15 and a beta of 1.47. The firm has a fifty day moving average price of $215.40 and a 200 day moving average price of $257.50. Manhattan Associates has a 1-year low of $163.10 and a 1-year high of $312.60.

Insider Transactions at Manhattan Associates

In other news, CFO Dennis B. Story sold 2,788 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $170.83, for a total value of $476,274.04. Following the completion of the transaction, the chief financial officer now owns 101,263 shares in the company, valued at $17,298,758.29. This trade represents a 2.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Manhattan Associates

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Manhattan Associates by 0.8% in 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 purchasing an additional 50,538 shares in the last quarter. FMR LLC increased its holdings in shares of Manhattan Associates by 16.2% in the 4th 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. State Street Corp increased its holdings in shares of Manhattan Associates by 0.6% in the 3rd quarter. State Street Corp now owns 2,203,139 shares of the software maker’s stock valued at $619,918,000 after purchasing an additional 12,787 shares in the last quarter. Franklin Resources Inc. increased its holdings in Manhattan Associates by 43.2% during the 4th quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker’s stock valued at $517,917,000 after acquiring an additional 578,295 shares in the last quarter. Finally, Invesco Ltd. raised its position in Manhattan Associates by 3.1% during the fourth quarter. Invesco Ltd. now owns 1,861,160 shares of the software maker’s stock worth $502,960,000 after acquiring an additional 55,334 shares during the last quarter. Hedge funds and other institutional investors 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.