Stifel Nicolaus Cuts Manhattan Associates (NASDAQ:MANH) Price Target to $225.00

Manhattan Associates (NASDAQ:MANH) had its price objective cut by Stifel Nicolaus from $240.00 to $225.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a buy rating on the software maker’s stock.

MANH has been the subject of several other research reports. Raymond James Financial lowered their target price on shares of Manhattan Associates from $250.00 to $240.00 and set an “outperform” rating for the company in a report on Wednesday, October 22nd. Citigroup upgraded Manhattan Associates from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $200.00 to $208.00 in a research note on Thursday, January 15th. DA Davidson set a $250.00 target price on Manhattan Associates in a report on Wednesday, October 22nd. UBS Group set a $240.00 price target on Manhattan Associates in a report on Wednesday, October 22nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Manhattan Associates in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Manhattan Associates currently has a consensus rating of “Moderate Buy” and a consensus target price of $219.58.

Manhattan Associates Trading Up 2.2%

MANH opened at $174.02 on Friday. Manhattan Associates has a 1-year low of $140.81 and a 1-year high of $299.27. The company has a market cap of $10.49 billion, a price-to-earnings ratio of 49.58 and a beta of 1.02. The company’s fifty day moving average price is $173.77 and its two-hundred day moving average price is $193.78.

Institutional Trading of Manhattan Associates

Hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC grew its stake in shares of Manhattan Associates by 181.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,928,053 shares of the software maker’s stock worth $380,733,000 after acquiring an additional 1,243,390 shares during the period. Norges Bank purchased a new stake in Manhattan Associates during the second quarter valued at about $162,545,000. Alliancebernstein L.P. boosted its position in Manhattan Associates by 22.7% during the third quarter. Alliancebernstein L.P. now owns 2,801,901 shares of the software maker’s stock worth $574,334,000 after purchasing an additional 518,321 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Manhattan Associates by 88.8% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 667,728 shares of the software maker’s stock worth $136,871,000 after purchasing an additional 314,112 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Manhattan Associates by 86.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 676,034 shares of the software maker’s stock valued at $138,573,000 after purchasing an additional 312,858 shares during the period. 98.45% of the stock is currently owned by institutional investors.

Manhattan Associates Company Profile

Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.