Manhattan Associates, Inc. (NASDAQ:MANH) Given Consensus Rating of “Moderate Buy” by Analysts

Manhattan Associates, Inc. (NASDAQ:MANH) has received an average rating of “Moderate Buy” from the nine ratings firms that are covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $208.88.

Several equities analysts recently weighed in on the stock. William Blair upgraded shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Loop Capital restated a “hold” rating and set a $170.00 price objective (down previously from $275.00) on shares of Manhattan Associates in a research note on Thursday, April 10th. Robert W. Baird set a $212.00 target price on Manhattan Associates and gave the company an “outperform” rating in a research note on Wednesday, May 21st. 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 report on Friday, March 14th. Finally, DA Davidson upped their price target on Manhattan Associates from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, May 21st.

Manhattan Associates Stock Up 1.9%

Shares of MANH stock opened at $192.88 on Friday. Manhattan Associates has a fifty-two week low of $140.81 and a fifty-two week high of $312.60. The firm’s 50 day moving average price is $179.65 and its two-hundred day moving average price is $212.60. The stock has a market cap of $11.71 billion, a price-to-earnings ratio of 54.95 and a beta of 1.08.

Institutional Investors Weigh In On Manhattan Associates

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Manhattan Associates by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 6,702,557 shares of the software maker’s stock valued at $1,811,299,000 after purchasing an additional 50,538 shares in the last quarter. FMR LLC raised its holdings in Manhattan Associates by 16.2% in the fourth quarter. FMR LLC now owns 2,227,669 shares of the software maker’s stock valued at $602,005,000 after acquiring an additional 310,257 shares in the last quarter. Franklin Resources Inc. raised its holdings 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 in the last quarter. Invesco Ltd. boosted its stake in Manhattan Associates by 3.1% during the 4th quarter. Invesco Ltd. now owns 1,861,160 shares of the software maker’s stock valued at $502,960,000 after acquiring an additional 55,334 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Manhattan Associates by 101.1% during 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 acquiring an additional 841,276 shares in 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.