Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 252,291 shares of the software maker’s stock after selling 9,001 shares during the quarter. New York State Common Retirement Fund owned approximately 0.41% of Manhattan Associates worth $68,179,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Creative Planning raised its stake in Manhattan Associates by 10.4% during the 3rd quarter. Creative Planning now owns 8,035 shares of the software maker’s stock worth $2,261,000 after acquiring an additional 756 shares in the last quarter. Blue Trust Inc. raised its stake in Manhattan Associates by 153.7% during the 3rd quarter. Blue Trust Inc. now owns 1,408 shares of the software maker’s stock worth $396,000 after acquiring an additional 853 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Manhattan Associates by 118.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 173,644 shares of the software maker’s stock worth $48,860,000 after acquiring an additional 94,283 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in Manhattan Associates during the 3rd quarter worth $63,000. Finally, Raleigh Capital Management Inc. raised its stake in Manhattan Associates by 78.9% during the 3rd quarter. Raleigh Capital Management Inc. now owns 442 shares of the software maker’s stock worth $124,000 after acquiring an additional 195 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Raymond James cut their price target on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. Piper Sandler restated an “overweight” rating and issued a $268.00 price objective (down from $326.00) on shares of Manhattan Associates in a research note on Wednesday, January 29th. Loop Capital dropped their price objective on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. DA Davidson dropped their price objective on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, Truist Financial dropped their price objective on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $273.33.

Insider Activity

In related news, 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 transaction of $1,001,147.50. Following the sale, the executive vice president now owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. The trade was a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $1,202,379.50. Following the sale, the senior vice president now directly owns 22,086 shares in the company, valued at approximately $6,398,976.78. This represents a 15.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Manhattan Associates Stock Down 2.3 %

Shares of NASDAQ:MANH opened at $183.21 on Thursday. The company has a market cap of $11.20 billion, a price-to-earnings ratio of 52.20 and a beta of 1.50. The firm’s 50-day simple moving average is $252.47 and its 200-day simple moving average is $266.96. Manhattan Associates, Inc. has a fifty-two week low of $169.94 and a fifty-two week high of $312.60.

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.