Envestnet Asset Management Inc. Decreases Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Envestnet Asset Management Inc. cut its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 21.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 115,382 shares of the software maker's stock after selling 32,033 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.19% of Manhattan Associates worth $19,966,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Twin Tree Management LP bought a new position in shares of Manhattan Associates during the fourth quarter valued at about $25,000. Central Pacific Bank Trust Division lifted its position in shares of Manhattan Associates by 107.3% during the first quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock valued at $34,000 after purchasing an additional 103 shares in the last quarter. Park Square Financial Group LLC bought a new position in shares of Manhattan Associates during the fourth quarter valued at about $38,000. Transce3nd LLC bought a new position in shares of Manhattan Associates during the fourth quarter valued at about $41,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Manhattan Associates by 144.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 308 shares of the software maker's stock valued at $83,000 after purchasing an additional 182 shares in the last quarter. 98.45% of the stock is owned by institutional investors.

Manhattan Associates Price Performance

MANH stock traded up $3.91 during midday trading on Thursday, reaching $203.90. The company had a trading volume of 558,513 shares, compared to its average volume of 637,569. Manhattan Associates, Inc. has a 1 year low of $140.81 and a 1 year high of $312.60. The company has a market capitalization of $12.38 billion, a P/E ratio of 58.26 and a beta of 1.08. The firm has a 50-day moving average price of $192.88 and a 200-day moving average price of $196.82.

Wall Street Analyst Weigh In

MANH has been the topic of a number of recent analyst reports. Truist Financial raised their price target on shares of Manhattan Associates from $190.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Citigroup restated a "neutral" rating and set a $200.00 price objective (up previously from $177.00) on shares of Manhattan Associates in a report on Wednesday. Robert W. Baird lifted their target price on shares of Manhattan Associates from $212.00 to $230.00 and gave the stock an "outperform" rating in a research note on Wednesday. Redburn Atlantic downgraded shares of Manhattan Associates from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $270.00 to $200.00 in a research note on Tuesday, June 10th. Finally, Morgan Stanley initiated coverage on shares of Manhattan Associates in a research report on Monday. They issued an "underweight" rating and a $190.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $210.56.

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.