Manhattan Associates (NASDAQ:MANH) Upgraded to “Strong-Buy” at DA Davidson

Manhattan Associates (NASDAQ:MANH) was upgraded by stock analysts at DA Davidson to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

MANH has been the topic of several other research reports. Loop Capital cut their target price on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research report 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 on the stock in a report on Friday, March 14th. William Blair upgraded shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Raymond James cut 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. Finally, StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $243.78.

Manhattan Associates Trading Up 0.9 %

Shares of MANH stock opened at $179.55 on Monday. The company has a market cap of $10.97 billion, a P/E ratio of 51.15 and a beta of 1.47. The firm has a fifty day moving average price of $202.16 and a 200 day moving average price of $253.38. Manhattan Associates has a 12 month low of $163.10 and a 12 month high of $312.60.

Insider Transactions at Manhattan Associates

In related news, CFO Dennis B. Story sold 2,788 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $170.83, for a total transaction of $476,274.04. Following the completion of the sale, the chief financial officer now directly owns 101,263 shares of the company’s stock, valued at $17,298,758.29. This trade represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Manhattan Associates

Several institutional investors and hedge funds have recently added to or reduced their stakes in MANH. Twin Tree Management LP acquired a new stake in shares of Manhattan Associates in the 4th quarter valued at approximately $25,000. Synergy Asset Management LLC acquired a new stake in shares of Manhattan Associates during the 4th quarter valued at approximately $35,000. Whipplewood Advisors LLC purchased a new stake in Manhattan Associates during the fourth quarter worth $34,000. Park Square Financial Group LLC purchased a new stake in shares of Manhattan Associates in the 4th quarter worth about $38,000. Finally, Transce3nd LLC purchased a new stake in shares of Manhattan Associates in the fourth quarter valued at about $41,000. 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.