Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Blair William & Co. IL

Blair William & Co. IL lowered its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 33.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,015 shares of the software maker’s stock after selling 3,013 shares during the quarter. Blair William & Co. IL’s holdings in Manhattan Associates were worth $1,625,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Twin Tree Management LP purchased a new position in shares of Manhattan Associates in the 4th quarter worth about $25,000. Whipplewood Advisors LLC purchased a new position in Manhattan Associates in the fourth quarter valued at approximately $34,000. Synergy Asset Management LLC acquired a new position in Manhattan Associates during the fourth quarter valued at approximately $35,000. Bank of Jackson Hole Trust purchased a new stake in Manhattan Associates during the fourth quarter worth approximately $72,000. Finally, EverSource Wealth Advisors LLC increased its position 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 in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Citigroup decreased their price target on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. William Blair upgraded Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Robert W. Baird decreased their price target on Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating for the company in a report on Tuesday, March 18th. Piper Sandler dropped their price objective on shares of Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday, March 14th. Finally, Loop Capital decreased their target price on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Manhattan Associates has an average rating of “Moderate Buy” and a consensus target price of $243.78.

Insider Activity

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the firm’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 owns 101,263 shares of the company’s stock, valued at $17,298,758.29. This trade represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.72% of the company’s stock.

Manhattan Associates Price Performance

MANH stock opened at $174.76 on Wednesday. The firm has a market cap of $10.68 billion, a price-to-earnings ratio of 49.79 and a beta of 1.47. Manhattan Associates, Inc. has a 1-year low of $163.10 and a 1-year high of $312.60. The firm has a fifty day moving average price of $192.01 and a two-hundred day moving average price of $250.29.

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.