Asset Management One Co. Ltd. Sells 31,532 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Asset Management One Co. Ltd. lessened its stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 32.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 67,128 shares of the software maker's stock after selling 31,532 shares during the quarter. Asset Management One Co. Ltd. owned approximately 0.11% of Manhattan Associates worth $11,621,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of MANH. Massachusetts Financial Services Co. MA grew its position in shares of Manhattan Associates by 101.1% during the 4th 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 in the last quarter. Norges Bank purchased a new stake in Manhattan Associates in the fourth quarter worth about $201,377,000. Franklin Resources Inc. lifted its holdings in 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 during the period. Lazard Asset Management LLC increased its stake in shares of Manhattan Associates by 2,075.5% during the fourth quarter. Lazard Asset Management LLC now owns 399,066 shares of the software maker's stock valued at $107,842,000 after purchasing an additional 380,722 shares in the last quarter. Finally, FMR LLC increased its stake 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. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MANH shares. Redburn Atlantic cut shares of Manhattan Associates from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $270.00 to $200.00 in a report on Tuesday, June 10th. Loop Capital reiterated a "hold" rating and issued a $170.00 price target (down from $275.00) on shares of Manhattan Associates in a report on Thursday, April 10th. Piper Sandler reduced their price objective on Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating on the stock in a research note on Friday, March 14th. Citigroup dropped their target price on Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. Finally, Robert W. Baird set a $212.00 price target on Manhattan Associates and gave the company an "outperform" rating in a report on Wednesday, May 21st. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $208.88.

Manhattan Associates Trading Up 1.4%

Shares of MANH stock opened at $194.22 on Friday. The company has a market capitalization of $11.79 billion, a PE ratio of 55.49 and a beta of 1.08. The firm has a fifty day simple moving average of $186.08 and a 200-day simple moving average of $205.48. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month high of $312.60.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.