Ameriprise Financial Inc. lessened its stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 180,939 shares of the software maker's stock after selling 5,953 shares during the quarter. Ameriprise Financial Inc. owned 0.30% of Manhattan Associates worth $48,897,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in MANH. Vanguard Group Inc. increased its position in Manhattan Associates by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 6,702,557 shares of the software maker's stock valued at $1,811,299,000 after acquiring an additional 50,538 shares during the last quarter. FMR LLC grew its position in shares of Manhattan Associates by 16.2% during the fourth quarter. FMR LLC now owns 2,227,669 shares of the software maker's stock valued at $602,005,000 after purchasing an additional 310,257 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Manhattan Associates by 43.2% in the fourth quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker's stock worth $517,917,000 after buying an additional 578,295 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Manhattan Associates by 3.1% during the 4th quarter. Invesco Ltd. now owns 1,861,160 shares of the software maker's stock worth $502,960,000 after acquiring an additional 55,334 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in 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 valued at $452,321,000 after purchasing an additional 841,276 shares during the last quarter. Institutional investors own 98.45% of the company's stock.
Insider Buying and Selling
In related news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 101,263 shares in the company, valued at $17,298,758.29. This trade represents a 2.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.88% of the stock is owned by company insiders.
Manhattan Associates Price Performance
Manhattan Associates stock traded down $1.34 during trading hours on Wednesday, reaching $194.20. The stock had a trading volume of 887,319 shares, compared to its average volume of 582,527. The company has a market cap of $11.79 billion, a price-to-earnings ratio of 55.33 and a beta of 1.13. The business's 50 day moving average price is $170.81 and its 200-day moving average price is $225.24. Manhattan Associates, Inc. has a 52 week low of $140.81 and a 52 week high of $312.60.
Analyst Ratings Changes
MANH has been the topic of several recent analyst reports. William Blair upgraded Manhattan Associates from a "market perform" rating to an "outperform" rating in a report on Thursday, February 13th. Robert W. Baird cut their price target on shares of Manhattan Associates from $282.00 to $225.00 and set an "outperform" rating on the stock in a report on Tuesday, March 18th. Piper Sandler decreased their price objective 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. 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 note on Friday, March 14th. Finally, Raymond James dropped their price objective on Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating on the stock in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $212.38.
Check Out Our Latest Analysis on Manhattan Associates
Manhattan Associates Company Profile
(
Free Report)
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.
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