Truist Financial Boosts Manhattan Associates (NASDAQ:MANH) Price Target to $210.00

Manhattan Associates (NASDAQ:MANH) had its price objective lifted by equities research analysts at Truist Financial from $190.00 to $210.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. Truist Financial’s target price would suggest a potential upside of 11.78% from the company’s previous close.

Several other research analysts have also weighed in on the company. DA Davidson upped their price target on Manhattan Associates from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday. Loop Capital reiterated a “hold” rating and issued a $170.00 target price (down previously from $275.00) on shares of Manhattan Associates in a report on Thursday, April 10th. Robert W. Baird raised their price target on shares of Manhattan Associates from $197.00 to $212.00 and gave the stock an “outperform” rating in a report on Wednesday. Raymond James dropped their price objective 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, Piper Sandler lowered their price target on shares of Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday, March 14th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Manhattan Associates presently has an average rating of “Moderate Buy” and an average target price of $210.14.

Manhattan Associates Stock Down 2.1%

Shares of NASDAQ:MANH opened at $187.86 on Thursday. The company’s fifty day moving average is $173.77 and its two-hundred day moving average is $222.37. The company has a market cap of $11.41 billion, a P/E ratio of 53.50 and a beta of 1.13. Manhattan Associates has a 12-month low of $140.81 and a 12-month high of $312.60.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $170.83, for a total transaction of $476,274.04. Following the transaction, the chief financial officer now directly owns 101,263 shares of the company’s stock, valued at $17,298,758.29. This represents a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.88% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Tokio Marine Asset Management Co. Ltd. acquired a new position in Manhattan Associates during the fourth quarter valued at approximately $3,890,000. GDS Wealth Management grew its stake in Manhattan Associates by 281.4% in the 4th quarter. GDS Wealth Management now owns 6,347 shares of the software maker’s stock valued at $1,715,000 after buying an additional 4,683 shares during the last quarter. AustralianSuper Pty Ltd lifted its position in Manhattan Associates by 968.0% during the 4th quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker’s stock worth $62,890,000 after acquiring an additional 210,929 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Manhattan Associates during the fourth quarter valued at about $1,200,000. Finally, Smith Group Asset Management LLC grew its position in shares of Manhattan Associates by 1.8% in the fourth quarter. Smith Group Asset Management LLC now owns 93,232 shares of the software maker’s stock valued at $25,195,000 after purchasing an additional 1,641 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

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.