Manhattan Associates (NASDAQ:MANH) Upgraded by William Blair to “Outperform” Rating

William Blair upgraded shares of Manhattan Associates (NASDAQ:MANH) from a market perform rating to an outperform rating in a report published on Thursday, MarketBeat.com reports.

Several other brokerages have also commented on MANH. Piper Sandler restated an “overweight” rating and issued a $268.00 price objective (down from $326.00) on shares of Manhattan Associates in a report on Wednesday, January 29th. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Robert W. Baird raised their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Raymond James decreased their target price on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. Finally, Loop Capital lowered their price target on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Manhattan Associates presently has an average rating of “Moderate Buy” and a consensus price target of $273.33.

Manhattan Associates Stock Performance

MANH opened at $190.41 on Thursday. The stock has a market capitalization of $11.63 billion, a PE ratio of 54.25 and a beta of 1.50. The stock’s 50 day moving average price is $259.20 and its 200-day moving average price is $268.28. Manhattan Associates has a 52-week low of $169.94 and a 52-week high of $312.60.

Insider Transactions at Manhattan Associates

In other news, EVP James Stewart Gantt sold 3,475 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the sale, the executive vice president now directly owns 42,812 shares in the company, valued at $12,334,137.20. This trade represents a 7.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Bruce Richards sold 4,150 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the completion of the transaction, the senior vice president now directly owns 22,086 shares of the company’s stock, valued at $6,398,976.78. This represents a 15.82 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Manhattan Associates

Several large investors have recently made changes to their positions in the business. Caisse DE Depot ET Placement DU Quebec raised its stake in Manhattan Associates by 39.6% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 212,877 shares of the software maker’s stock valued at $57,528,000 after purchasing an additional 60,379 shares during the period. Freestone Grove Partners LP bought a new stake in shares of Manhattan Associates during the fourth quarter valued at approximately $598,000. Northern Trust Corp lifted its holdings in shares of Manhattan Associates by 26.5% in the fourth quarter. Northern Trust Corp now owns 761,820 shares of the software maker’s stock worth $205,874,000 after buying an additional 159,572 shares in the last quarter. Quarry LP bought a new position in shares of Manhattan Associates during the fourth quarter worth $189,000. Finally, Boothbay Fund Management LLC grew its stake in Manhattan Associates by 57.5% during the fourth quarter. Boothbay Fund Management LLC now owns 1,756 shares of the software maker’s stock valued at $475,000 after acquiring an additional 641 shares in the last quarter. 98.45% of the stock is currently owned by hedge funds and other 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.