Manhattan Associates (NASDAQ:MANH) Given “Hold” Rating at Loop Capital

Loop Capital reissued their hold rating on shares of Manhattan Associates (NASDAQ:MANH) in a report published on Thursday, MarketBeat Ratings reports. The firm currently has a $170.00 target price on the software maker’s stock, down from their prior target price of $275.00.

Other equities analysts have also recently issued research reports about the company. Citigroup decreased their price target on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Robert W. Baird decreased their target price on shares of Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating for the company in a research note on Tuesday, March 18th. William Blair raised shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Piper Sandler dropped their target price on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, March 14th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $232.11.

Manhattan Associates Price Performance

Shares of MANH opened at $157.64 on Thursday. Manhattan Associates has a 12 month low of $140.81 and a 12 month high of $312.60. The stock’s 50-day moving average is $174.65 and its two-hundred day moving average is $243.25. The stock has a market cap of $9.64 billion, a PE ratio of 44.91 and a beta of 1.36.

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 101,263 shares in the company, valued at $17,298,758.29. This represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Manhattan Associates

A number of hedge funds have recently added to or reduced their stakes in MANH. Massachusetts Financial Services Co. MA lifted its position in shares of 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 worth $452,321,000 after buying an additional 841,276 shares during the last quarter. Norges Bank bought a new position in Manhattan Associates in the fourth quarter worth about $201,377,000. JPMorgan Chase & Co. boosted its stake in Manhattan Associates by 213.7% in the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock valued at $284,169,000 after acquiring an additional 687,933 shares during the period. Franklin Resources Inc. boosted its stake in Manhattan Associates by 43.2% in the fourth quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker’s stock valued at $517,917,000 after acquiring an additional 578,295 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in shares of Manhattan Associates by 2,075.5% during the fourth 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 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.