Manhattan Associates (NASDAQ:MANH) Hits New 1-Year Low – Should You Sell?

Manhattan Associates, Inc. (NASDAQ:MANH)’s share price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $183.50 and last traded at $188.84, with a volume of 206603 shares changing hands. The stock had previously closed at $200.90.

Analysts Set New Price Targets

A number of brokerages have recently commented on MANH. Raymond James reduced their target price on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. Piper Sandler reissued an “overweight” rating and set a $268.00 price target (down previously from $326.00) on shares of Manhattan Associates in a research report on Wednesday, January 29th. Citigroup lowered their price objective on shares of Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Truist Financial reduced their price target on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, Robert W. Baird lifted their price objective on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $273.33.

Manhattan Associates Trading Down 10.5 %

The company has a market capitalization of $10.98 billion, a price-to-earnings ratio of 51.21 and a beta of 1.50. The company has a 50-day moving average of $270.72 and a 200-day moving average of $270.88.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Manhattan Associates

Several hedge funds have recently modified their holdings of MANH. Capital Performance Advisors LLP acquired a new stake in Manhattan Associates during the 3rd quarter worth $34,000. Whipplewood Advisors LLC purchased a new position in shares of Manhattan Associates in the fourth quarter worth about $34,000. Synergy Asset Management LLC acquired a new position in Manhattan Associates during the fourth quarter worth about $35,000. Ashton Thomas Securities LLC purchased a new stake in Manhattan Associates during the 3rd quarter valued at about $42,000. Finally, Carolina Wealth Advisors LLC purchased a new position in Manhattan Associates in the 3rd quarter worth approximately $50,000. 98.45% of the stock is 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.