Manhattan Associates (NASDAQ:MANH) Cut to “Neutral” at Redburn Atlantic

Redburn Atlantic downgraded shares of Manhattan Associates (NASDAQ:MANH) from a buy rating to a neutral rating in a research report released on Tuesday morning, MarketBeat.com reports. Redburn Atlantic currently has $200.00 price objective on the software maker’s stock, down from their prior price objective of $270.00.

A number of other research firms have also issued reports on MANH. William Blair upgraded Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Robert W. Baird set a $212.00 target price on Manhattan Associates and gave the company an “outperform” rating in a report on Wednesday, May 21st. Citigroup cut their price objective on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Truist Financial increased their price objective on Manhattan Associates from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, May 22nd. Finally, DA Davidson increased their price objective on Manhattan Associates from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, May 21st. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $208.88.

Manhattan Associates Stock Up 1.9%

MANH opened at $192.88 on Tuesday. The firm has a market cap of $11.71 billion, a PE ratio of 54.95 and a beta of 1.08. The business has a fifty day simple moving average of $179.65 and a 200-day simple moving average of $212.60. Manhattan Associates has a fifty-two week low of $140.81 and a fifty-two week high of $312.60.

Hedge Funds Weigh In On Manhattan Associates

Institutional investors have recently bought and sold shares of the stock. Twin Tree Management LP bought a new position in Manhattan Associates during the fourth quarter valued at about $25,000. Whipplewood Advisors LLC acquired a new stake in shares of Manhattan Associates in the fourth quarter valued at about $34,000. Central Pacific Bank Trust Division grew its position in shares of Manhattan Associates by 107.3% in the first quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker’s stock valued at $34,000 after purchasing an additional 103 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in shares of Manhattan Associates in the fourth quarter valued at about $38,000. Finally, Transce3nd LLC acquired a new stake in shares of Manhattan Associates in the fourth quarter valued at about $41,000. 98.45% of the stock is currently owned by 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.