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Manhattan Associates (NASDAQ:MANH) Hits New 52-Week High Following Analyst Upgrade

Defense World ·  Feb 4, 2023 01:21

Manhattan Associates, Inc. (NASDAQ:MANH – Get Rating)'s share price reached a new 52-week high during trading on Friday after Rosenblatt Securities raised their price target on the stock from $140.00 to $150.00. Rosenblatt Securities currently has a buy rating on the stock. Manhattan Associates traded as high as $158.61 and last traded at $151.00, with a volume of 33101 shares changing hands. The stock had previously closed at $138.73.

Several other research firms have also issued reports on MANH. Robert W. Baird upped their price target on Manhattan Associates from $161.00 to $168.00 in a research report on Friday. StockNews.com raised Manhattan Associates from a "hold" rating to a "buy" rating in a research report on Thursday, October 27th.

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Institutional Investors Weigh In On Manhattan Associates

Institutional investors and hedge funds have recently made changes to their positions in the company. Altshuler Shaham Ltd acquired a new stake in shares of Manhattan Associates during the 3rd quarter valued at approximately $32,000. Private Trust Co. NA acquired a new stake in Manhattan Associates in the second quarter worth $30,000. Whittier Trust Co. increased its position in Manhattan Associates by 101.4% in the third quarter. Whittier Trust Co. now owns 294 shares of the software maker's stock worth $39,000 after buying an additional 148 shares during the period. Castle Wealth Management LLC acquired a new stake in Manhattan Associates in the second quarter worth $35,000. Finally, Quadrant Capital Group LLC increased its position in Manhattan Associates by 168.4% in the second quarter. Quadrant Capital Group LLC now owns 314 shares of the software maker's stock worth $36,000 after buying an additional 197 shares during the period. 96.92% of the stock is owned by institutional investors and hedge funds.

Manhattan Associates Price Performance

The company has a 50-day simple moving average of $122.93 and a two-hundred day simple moving average of $129.28. The stock has a market capitalization of $9.35 billion, a price-to-earnings ratio of 85.12 and a beta of 1.64.

Manhattan Associates Company Profile

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Manhattan Associates, Inc engages in designing, building and delivering supply chain commerce solutions by converging front-end sales with back-end supply chain. It operates through the following geographical segments: The Americas, Europe, Middle East and Africa and Asia Pacific. The company was founded by Deepak Raghavan in October 1990 and is headquartered in Atlanta, GA.

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