Manhattan Associates, Inc. (NASDAQ:MANH) Receives Consensus Rating of “Moderate Buy” from Analysts

Manhattan Associates, Inc. (NASDAQ:MANH) has been given an average rating of “Moderate Buy” by the ten research firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $243.78.

A number of research analysts recently commented on the stock. Raymond James decreased their price target on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. Citigroup cut their price objective on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a report on Friday, March 14th. William Blair raised shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. DA Davidson cut their price objective on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, Loop Capital cut their price objective on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a report on Wednesday, January 29th.

Manhattan Associates Stock Performance

Shares of MANH opened at $171.08 on Friday. Manhattan Associates has a 52 week low of $163.10 and a 52 week high of $312.60. The firm has a market cap of $10.46 billion, a P/E ratio of 48.74 and a beta of 1.47. The firm’s 50-day simple moving average is $205.73 and its 200 day simple moving average is $254.43.

Insider Transactions at Manhattan Associates

In related news, CFO Dennis B. Story sold 2,788 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $17,298,758.29. This represents a 2.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Manhattan Associates

Several institutional investors and hedge funds have recently added to or reduced their stakes in MANH. Massachusetts Financial Services Co. MA lifted its stake in Manhattan Associates by 101.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker’s stock valued at $452,321,000 after purchasing an additional 841,276 shares during the last quarter. Norges Bank bought a new position in Manhattan Associates in the 4th quarter valued at approximately $201,377,000. JPMorgan Chase & Co. lifted its stake in Manhattan Associates by 213.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock valued at $284,169,000 after purchasing an additional 687,933 shares during the last quarter. Franklin Resources Inc. lifted its stake in Manhattan Associates by 43.2% in the 4th quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker’s stock valued at $517,917,000 after purchasing an additional 578,295 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its stake in Manhattan Associates by 2,075.5% in the 4th quarter. Lazard Asset Management LLC now owns 399,066 shares of the software maker’s stock valued at $107,842,000 after purchasing an additional 380,722 shares during the last quarter. 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.