Manhattan Associates (NASDAQ:MANH) Sets New 52-Week Low – Time to Sell?

Manhattan Associates, Inc. (NASDAQ:MANH) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $162.00 and last traded at $162.83, with a volume of 142771 shares. The stock had previously closed at $178.89.

Analyst Upgrades and Downgrades

MANH has been the subject of a number of recent analyst reports. Robert W. Baird cut their price objective on shares of Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating for the company in a report on Tuesday, March 18th. Truist Financial cut their price target on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. William Blair raised Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Finally, Citigroup reduced their target price on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $243.78.

Manhattan Associates Stock Down 9.3 %

The firm has a market capitalization of $9.91 billion, a price-to-earnings ratio of 46.21 and a beta of 1.47. The stock’s 50-day moving average price is $189.95 and its 200 day moving average price is $249.79.

Insider Activity

In other news, CFO Dennis B. Story sold 2,788 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $170.83, for a total transaction of $476,274.04. Following the transaction, the chief financial officer now owns 101,263 shares of the company’s stock, valued at approximately $17,298,758.29. The trade was a 2.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.72% of the company’s stock.

Institutional Trading of Manhattan Associates

Several institutional investors have recently made changes to their positions in MANH. Ascent Group LLC boosted its position in shares of Manhattan Associates by 4.8% during the 3rd quarter. Ascent Group LLC now owns 896 shares of the software maker’s stock worth $252,000 after purchasing an additional 41 shares during the period. Metis Global Partners LLC increased its position in shares of Manhattan Associates by 7.0% during the fourth quarter. Metis Global Partners LLC now owns 837 shares of the software maker’s stock worth $226,000 after acquiring an additional 55 shares during the period. BOKF NA boosted its holdings in Manhattan Associates by 0.4% in the fourth quarter. BOKF NA now owns 13,271 shares of the software maker’s stock valued at $3,522,000 after purchasing an additional 55 shares during the period. Kestra Investment Management LLC grew its stake in Manhattan Associates by 2.9% during the 4th quarter. Kestra Investment Management LLC now owns 2,055 shares of the software maker’s stock worth $555,000 after purchasing an additional 57 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. raised its position in Manhattan Associates by 8.3% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 813 shares of the software maker’s stock valued at $220,000 after purchasing an additional 62 shares in the last quarter. Hedge funds and other institutional investors 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.