BNP Paribas Financial Markets Reduces Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

BNP Paribas Financial Markets trimmed its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 47.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,395 shares of the software maker's stock after selling 33,601 shares during the quarter. BNP Paribas Financial Markets owned 0.06% of Manhattan Associates worth $10,106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA increased its stake in shares of 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 worth $452,321,000 after purchasing an additional 841,276 shares in the last quarter. Norges Bank purchased a new stake in Manhattan Associates during the 4th quarter worth approximately $201,377,000. JPMorgan Chase & Co. raised its holdings in shares of Manhattan Associates by 213.7% during the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker's stock valued at $284,169,000 after acquiring an additional 687,933 shares during the last quarter. Franklin Resources Inc. boosted its stake 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 acquiring an additional 578,295 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of Manhattan Associates by 275.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 486,750 shares of the software maker's stock worth $131,539,000 after purchasing an additional 357,172 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the company's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $170.83, for a total transaction of $476,274.04. Following the completion of the transaction, the chief financial officer now owns 101,263 shares in the company, valued at approximately $17,298,758.29. This represents a 2.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.88% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on MANH shares. DA Davidson lifted their target price on shares of Manhattan Associates from $195.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Piper Sandler cut their target price on Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating for the company in a research note on Friday, March 14th. Robert W. Baird lowered 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. William Blair upgraded shares of Manhattan Associates from a "market perform" rating to an "outperform" rating in a research report on Thursday, February 13th. Finally, Citigroup lowered their target price on Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating for the company in a report on Friday, March 14th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $212.38.

Manhattan Associates Stock Down 0.2%

Manhattan Associates stock traded down $0.46 during midday trading on Tuesday, reaching $195.54. The company's stock had a trading volume of 581,208 shares, compared to its average volume of 580,270. The company has a market cap of $11.87 billion, a P/E ratio of 55.71 and a beta of 1.13. The business has a 50-day simple moving average of $170.81 and a 200-day simple moving average of $225.24. Manhattan Associates, Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $312.60.

Manhattan Associates 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.