JPMorgan Chase & Co. Has $192.35 Million Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

JPMorgan Chase & Co. decreased its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 29.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 711,777 shares of the software maker’s stock after selling 298,136 shares during the period. JPMorgan Chase & Co. owned 1.17% of Manhattan Associates worth $192,351,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Twin Tree Management LP bought a new position in shares of Manhattan Associates in the fourth quarter worth about $25,000. Whipplewood Advisors LLC bought a new position in Manhattan Associates in the 4th quarter worth approximately $34,000. Synergy Asset Management LLC acquired a new position in shares of Manhattan Associates during the fourth quarter worth approximately $35,000. Bank of Jackson Hole Trust bought a new stake in shares of Manhattan Associates in the fourth quarter valued at approximately $72,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Manhattan Associates by 144.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 308 shares of the software maker’s stock worth $83,000 after acquiring an additional 182 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MANH. Piper Sandler reduced their price target on shares of Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, March 14th. William Blair upgraded shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 13th. Robert W. Baird decreased their target price on Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 18th. StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, Raymond James decreased their price objective on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.78.

Manhattan Associates Price Performance

Shares of NASDAQ:MANH opened at $173.04 on Tuesday. The business’s fifty day moving average price is $194.16 and its two-hundred day moving average price is $250.92. Manhattan Associates, Inc. has a fifty-two week low of $163.10 and a fifty-two week high of $312.60. The stock has a market capitalization of $10.58 billion, a price-to-earnings ratio of 49.30 and a beta of 1.47.

Insider Activity

In other Manhattan Associates 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 value of $476,274.04. Following the transaction, the chief financial officer now directly owns 101,263 shares in the company, valued at $17,298,758.29. The trade was a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is owned by corporate insiders.

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.