Analysts Set Manhattan Associates, Inc. (NASDAQ:MANH) Price Target at $234.86

Manhattan Associates, Inc. (NASDAQ:MANH) has been assigned an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $234.86.

A number of equities analysts have recently weighed in on MANH shares. Rosenblatt Securities reaffirmed a “neutral” rating and set a $225.00 target price on shares of Manhattan Associates in a research report on Wednesday, April 24th. Raymond James increased their price target on Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Truist Financial increased their price target on Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. William Blair reissued a “market perform” rating on shares of Manhattan Associates in a research report on Wednesday, April 24th. Finally, Citigroup lowered their price target on Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, April 24th.

Insider Activity

In other news, EVP James Stewart Gantt sold 680 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total transaction of $169,211.20. Following the completion of the sale, the executive vice president now directly owns 57,093 shares of the company’s stock, valued at approximately $14,207,022.12. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP James Stewart Gantt sold 680 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total transaction of $169,211.20. Following the transaction, the executive vice president now owns 57,093 shares of the company’s stock, valued at approximately $14,207,022.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eddie Capel sold 10,897 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total value of $2,699,513.81. Following the transaction, the chief executive officer now directly owns 242,153 shares in the company, valued at approximately $59,988,562.69. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. FMR LLC lifted its position in shares of Manhattan Associates by 2.1% during the 3rd quarter. FMR LLC now owns 1,628,850 shares of the software maker’s stock valued at $321,958,000 after buying an additional 33,549 shares during the last quarter. Morgan Stanley raised its stake in shares of Manhattan Associates by 0.9% during the 3rd quarter. Morgan Stanley now owns 1,522,444 shares of the software maker’s stock valued at $300,927,000 after purchasing an additional 13,303 shares during the period. Franklin Resources Inc. raised its stake in shares of Manhattan Associates by 16.8% during the 4th quarter. Franklin Resources Inc. now owns 872,966 shares of the software maker’s stock valued at $187,967,000 after purchasing an additional 125,541 shares during the period. Norges Bank bought a new stake in shares of Manhattan Associates during the 4th quarter valued at $146,984,000. Finally, Northern Trust Corp raised its stake in shares of Manhattan Associates by 10.5% during the 3rd quarter. Northern Trust Corp now owns 645,187 shares of the software maker’s stock valued at $127,528,000 after purchasing an additional 61,437 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Up 0.9 %

Shares of NASDAQ:MANH opened at $210.76 on Thursday. Manhattan Associates has a twelve month low of $166.82 and a twelve month high of $266.94. The stock’s 50 day moving average is $240.00 and its 200-day moving average is $227.03. The firm has a market capitalization of $12.98 billion, a price-to-earnings ratio of 68.88 and a beta of 1.45.

Manhattan Associates Company Profile

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.