Envestnet Asset Management Inc. Sells 13,304 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Envestnet Asset Management Inc. lessened its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 8.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 147,415 shares of the software maker’s stock after selling 13,304 shares during the period. Envestnet Asset Management Inc. owned 0.24% of Manhattan Associates worth $39,838,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Twin Tree Management LP bought a new position in shares of Manhattan Associates in the fourth quarter worth $25,000. Synergy Asset Management LLC acquired a new stake in Manhattan Associates during the fourth quarter worth about $35,000. Whipplewood Advisors LLC bought a new position in Manhattan Associates in the 4th quarter valued at about $34,000. Bank of Jackson Hole Trust acquired a new position in shares of Manhattan Associates in the 4th quarter valued at approximately $72,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Manhattan Associates by 144.4% during the 4th 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 period. 98.45% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Dennis B. Story sold 2,788 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $170.83, for a total value of $476,274.04. Following the sale, the chief financial officer now owns 101,263 shares of the company’s stock, valued at $17,298,758.29. The trade was a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MANH. DA Davidson raised shares of Manhattan Associates to a “strong-buy” rating in a research note on Monday, March 24th. Loop Capital reiterated a “hold” rating and issued a $170.00 price target (down previously from $275.00) on shares of Manhattan Associates in a research note on Thursday. William Blair upgraded Manhattan Associates from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 13th. StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Citigroup dropped their target price on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Manhattan Associates has a consensus rating of “Moderate Buy” and a consensus price target of $232.11.

Manhattan Associates Price Performance

Shares of NASDAQ MANH opened at $158.67 on Friday. The company has a 50 day simple moving average of $173.89 and a 200 day simple moving average of $242.38. Manhattan Associates, Inc. has a 1 year low of $140.81 and a 1 year high of $312.60. The firm has a market cap of $9.63 billion, a PE ratio of 45.21 and a beta of 1.36.

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.