Envestnet Portfolio Solutions Inc. cut its holdings in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 22.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 5,339 shares of the software maker's stock after selling 1,509 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Manhattan Associates were worth $924,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of MANH. Massachusetts Financial Services Co. MA boosted its holdings in shares of Manhattan Associates by 101.1% in 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 buying an additional 841,276 shares during the period. Norges Bank acquired a new position in shares of Manhattan Associates in the 4th quarter valued at about $201,377,000. Franklin Resources Inc. boosted its holdings in shares of Manhattan Associates by 43.2% in the 4th quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker's stock valued at $517,917,000 after buying an additional 578,295 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of Manhattan Associates by 2,075.5% in the 4th quarter. Lazard Asset Management LLC now owns 399,066 shares of the software maker's stock valued at $107,842,000 after buying an additional 380,722 shares during the period. Finally, FMR LLC boosted its holdings in shares of Manhattan Associates by 16.2% in the 4th quarter. FMR LLC now owns 2,227,669 shares of the software maker's stock valued at $602,005,000 after buying an additional 310,257 shares during the period. 98.45% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms have recently commented on MANH. 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 report on Friday, March 14th. Truist Financial boosted their target price on shares of Manhattan Associates from $190.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Robert W. Baird set a $212.00 target price on shares of Manhattan Associates and gave the company an "outperform" rating in a research note on Wednesday, May 21st. DA Davidson boosted their target price on shares of Manhattan Associates from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. Finally, Redburn Atlantic lowered shares of Manhattan Associates from a "buy" rating to a "neutral" rating and reduced their target price for the company from $270.00 to $200.00 in a research note on Tuesday, June 10th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $208.88.
Read Our Latest Research Report on MANH
Manhattan Associates Stock Performance
Shares of MANH stock traded up $3.03 during midday trading on Friday, reaching $197.25. 1,127,435 shares of the company were exchanged, compared to its average volume of 635,467. Manhattan Associates, Inc. has a 12 month low of $140.81 and a 12 month high of $312.60. The company has a market cap of $11.98 billion, a P/E ratio of 56.36 and a beta of 1.08. The company's 50 day moving average price is $186.76 and its two-hundred day moving average price is $203.39.
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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