Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP decreased its stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 89.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,316 shares of the software maker's stock after selling 101,490 shares during the period. Wellington Management Group LLP's holdings in Manhattan Associates were worth $3,328,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Twin Tree Management LP acquired a new stake in Manhattan Associates in the 4th quarter valued at about $25,000. Whipplewood Advisors LLC acquired a new position in Manhattan Associates during the fourth quarter worth about $34,000. Park Square Financial Group LLC purchased a new stake in shares of Manhattan Associates in the fourth quarter valued at about $38,000. Transce3nd LLC acquired a new stake in shares of Manhattan Associates in the fourth quarter valued at approximately $41,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of Manhattan Associates during the 4th quarter worth approximately $72,000. Institutional investors and hedge funds own 98.45% of the company's stock.

Manhattan Associates Stock Performance

Shares of NASDAQ:MANH traded up $2.60 during trading on Friday, reaching $192.78. 625,138 shares of the stock were exchanged, compared to its average volume of 621,293. The firm's 50-day moving average price is $176.69 and its 200 day moving average price is $215.52. The firm has a market cap of $11.70 billion, a price-to-earnings ratio of 54.92 and a beta of 1.08. Manhattan Associates, Inc. has a 12-month low of $140.81 and a 12-month high of $312.60.

Analyst Ratings Changes

A number of research analysts have issued reports on MANH shares. Truist Financial upped their target price on shares of Manhattan Associates from $190.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. DA Davidson upped their price objective 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. William Blair upgraded shares of Manhattan Associates from a "market perform" rating to an "outperform" rating in a research report on Thursday, February 13th. Loop Capital reaffirmed a "hold" rating and issued a $170.00 target price (down from $275.00) on shares of Manhattan Associates in a research note on Thursday, April 10th. Finally, Robert W. Baird set a $212.00 price target on Manhattan Associates and gave the stock an "outperform" rating in a research note on Wednesday, May 21st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Manhattan Associates has an average rating of "Moderate Buy" and an average price target of $210.14.

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.