Piper Sandler Lowers Manhattan Associates (NASDAQ:MANH) Price Target to $200.00

Manhattan Associates (NASDAQ:MANH) had its price target reduced by Piper Sandler from $268.00 to $200.00 in a research note published on Friday,Benzinga reports. They currently have an overweight rating on the software maker’s stock.

A number of other research firms have also recently commented on MANH. DA Davidson cut their target price 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. Truist Financial cut their target price on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. William Blair raised shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 13th. Finally, Citigroup cut their target price on shares of Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $252.56.

Manhattan Associates Stock Up 5.5 %

MANH stock opened at $172.50 on Friday. The stock has a market capitalization of $10.54 billion, a P/E ratio of 49.15 and a beta of 1.47. The firm has a 50-day simple moving average of $215.40 and a 200-day simple moving average of $257.50. Manhattan Associates has a 52 week low of $163.10 and a 52 week high of $312.60.

Insider Buying and Selling

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the business’s 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 transaction, the chief financial officer now directly owns 101,263 shares in the company, valued at $17,298,758.29. The trade was a 2.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.72% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Manhattan Associates

Institutional investors and hedge funds have recently bought and sold shares of the company. Twin Tree Management LP acquired a new position in Manhattan Associates in the 4th quarter valued at about $25,000. Synergy Asset Management LLC acquired a new position in Manhattan Associates in the 4th quarter valued at about $35,000. Whipplewood Advisors LLC purchased a new stake in shares of Manhattan Associates in the 4th quarter valued at approximately $34,000. Park Square Financial Group LLC purchased a new stake in shares of Manhattan Associates in the 4th quarter valued at approximately $38,000. Finally, Transce3nd LLC purchased a new stake in shares of Manhattan Associates in the 4th quarter valued at approximately $41,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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.