California State Teachers Retirement System lowered its position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 3.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 82,466 shares of the software maker's stock after selling 3,129 shares during the period. California State Teachers Retirement System owned 0.13% of Manhattan Associates worth $22,286,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its holdings 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 worth $452,321,000 after acquiring an additional 841,276 shares during the period. Norges Bank purchased a new position in shares of Manhattan Associates during the 4th quarter worth $201,377,000. JPMorgan Chase & Co. raised its holdings in shares of Manhattan Associates by 213.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker's stock worth $284,169,000 after acquiring an additional 687,933 shares during the period. Franklin Resources Inc. raised its holdings in shares of Manhattan Associates by 43.2% during the 4th 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 period. Finally, Lazard Asset Management LLC raised its holdings in shares of Manhattan Associates by 2,075.5% during the 4th quarter. Lazard Asset Management LLC now owns 399,066 shares of the software maker's stock worth $107,842,000 after acquiring an additional 380,722 shares during the period. Hedge funds and other institutional investors own 98.45% of the company's stock.
Insider Buying and Selling at Manhattan Associates
In other news, CFO Dennis B. Story sold 2,788 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was 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 directly owns 101,263 shares of the company's stock, valued at approximately $17,298,758.29. The trade was a 2.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.88% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
MANH has been the topic of several analyst reports. Loop Capital reiterated a "hold" rating and set a $170.00 price target (down previously from $275.00) on shares of Manhattan Associates in a report on Thursday, April 10th. DA Davidson lifted their price target on Manhattan Associates from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. Citigroup cut their price objective 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. William Blair raised Manhattan Associates from a "market perform" rating to an "outperform" rating in a research report on Thursday, February 13th. Finally, Piper Sandler cut their price objective on Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating for the company in a research report on Friday, March 14th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $210.14.
Check Out Our Latest Stock Report on Manhattan Associates
Manhattan Associates Stock Down 2.5%
NASDAQ MANH traded down $4.72 during trading on Monday, hitting $184.07. The stock had a trading volume of 505,128 shares, compared to its average volume of 883,689. The company has a market capitalization of $11.18 billion, a PE ratio of 52.44 and a beta of 1.13. The firm has a 50 day moving average price of $175.58 and a 200 day moving average price of $217.08. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month high of $312.60.
About Manhattan Associates
(
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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