Short Interest in Manhattan Associates, Inc. (NASDAQ:MANH) Decreases By 35.3%

Manhattan Associates, Inc. (NASDAQ:MANH) saw a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 1,120,000 shares, a decrease of 35.3% from the January 15th total of 1,730,000 shares. Based on an average daily volume of 574,300 shares, the short-interest ratio is currently 2.0 days. Approximately 1.9% of the company’s stock are short sold.

Analysts Set New Price Targets

MANH has been the topic of a number of research reports. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. William Blair upgraded shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday. Truist Financial reduced their price objective on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Piper Sandler reissued an “overweight” rating and set a $268.00 target price (down from $326.00) on shares of Manhattan Associates in a research report on Wednesday, January 29th. Finally, Raymond James reduced their price target on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $273.33.

Manhattan Associates Price Performance

MANH stock opened at $187.58 on Friday. The company has a 50-day moving average of $261.45 and a two-hundred day moving average of $268.65. The stock has a market capitalization of $11.46 billion, a price-to-earnings ratio of 53.44 and a beta of 1.50. Manhattan Associates has a 52-week low of $169.94 and a 52-week high of $312.60.

Insider Activity

In related news, SVP Bruce Richards sold 4,150 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the completion of the sale, the senior vice president now directly owns 22,086 shares in the company, valued at approximately $6,398,976.78. This trade represents a 15.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James Stewart Gantt sold 3,475 shares of the business’s stock in a transaction dated 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 owns 42,812 shares in the company, valued at $12,334,137.20. This trade represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

Institutional Trading of Manhattan Associates

Several hedge funds have recently added to or reduced their stakes in MANH. Massachusetts Financial Services Co. MA lifted its holdings in shares of Manhattan Associates by 101.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker’s stock worth $452,321,000 after buying an additional 841,276 shares during the last quarter. Norges Bank bought a new position in Manhattan Associates during the fourth quarter worth $201,377,000. JPMorgan Chase & Co. raised its stake in Manhattan Associates by 213.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock valued at $284,169,000 after purchasing an additional 687,933 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Manhattan Associates by 43.2% in the 4th quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker’s stock valued at $517,917,000 after purchasing an additional 578,295 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in Manhattan Associates by 275.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 486,750 shares of the software maker’s stock worth $131,539,000 after purchasing an additional 357,172 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

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.