Truist Financial Cuts Manhattan Associates (NASDAQ:MANH) Price Target to $185.00

Manhattan Associates (NASDAQ:MANH) had its price objective decreased by Truist Financial from $285.00 to $185.00 in a research note published on Monday,Benzinga reports. Truist Financial currently has a buy rating on the software maker’s stock.

Several other equities research analysts have also recently weighed in on MANH. Citigroup reduced their target price on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. Robert W. Baird reduced their price objective on Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating for the company in a research report on Tuesday, March 18th. StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. DA Davidson raised Manhattan Associates to a “strong-buy” rating in a research report on Monday, March 24th. Finally, Raymond James lowered their price target on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Manhattan Associates currently has an average rating of “Moderate Buy” and a consensus price target of $212.67.

Manhattan Associates Price Performance

NASDAQ:MANH opened at $161.09 on Monday. Manhattan Associates has a one year low of $140.81 and a one year high of $312.60. The company has a fifty day moving average price of $171.66 and a 200 day moving average price of $240.18. The stock has a market cap of $9.78 billion, a P/E ratio of 45.89 and a beta of 1.36.

Insider Activity at Manhattan Associates

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

Institutional Investors Weigh In On Manhattan Associates

A number of large investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC boosted its stake in Manhattan Associates by 177.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,749 shares of the software maker’s stock worth $1,341,000 after purchasing an additional 4,957 shares in the last quarter. Azzad Asset Management Inc. ADV acquired a new position in Manhattan Associates during the 1st quarter worth about $315,000. Union Bancaire Privee UBP SA bought a new stake in Manhattan Associates during the 1st quarter worth about $407,000. Greenwood Capital Associates LLC increased its position in Manhattan Associates by 28.5% in the 1st quarter. Greenwood Capital Associates LLC now owns 3,426 shares of the software maker’s stock valued at $593,000 after acquiring an additional 759 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of Manhattan Associates by 14.6% in the first quarter. Fifth Third Bancorp now owns 691 shares of the software maker’s stock worth $120,000 after acquiring an additional 88 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

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.