Worldquant Millennium Advisors LLC Sells 6,832 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Worldquant Millennium Advisors LLC lowered its holdings in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 7.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,009 shares of the software maker's stock after selling 6,832 shares during the period. Worldquant Millennium Advisors LLC owned approximately 0.15% of Manhattan Associates worth $24,324,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Massachusetts Financial Services Co. MA raised its position in Manhattan Associates by 101.1% during the fourth 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 purchased a new position in Manhattan Associates during the 4th quarter valued at about $201,377,000. JPMorgan Chase & Co. increased its holdings in shares of Manhattan Associates by 213.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker's stock valued at $284,169,000 after purchasing an additional 687,933 shares during the period. Franklin Resources Inc. lifted its position in shares of 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 purchasing an additional 578,295 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its holdings 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 worth $107,842,000 after purchasing an additional 380,722 shares during the period. Hedge funds and other institutional investors own 98.45% of the company's stock.

Manhattan Associates Trading Down 1.2%

Manhattan Associates stock traded down $2.26 during mid-day trading on Monday, hitting $185.23. 692,253 shares of the company's stock were exchanged, compared to its average volume of 589,240. Manhattan Associates, Inc. has a 1-year low of $140.81 and a 1-year high of $312.60. The stock has a 50 day moving average of $174.25 and a two-hundred day moving average of $220.41. The stock has a market cap of $11.25 billion, a P/E ratio of 52.77 and a beta of 1.13.

Insider Transactions at Manhattan Associates

In related news, CFO Dennis B. Story sold 2,788 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $170.83, for a total value of $476,274.04. Following the completion of the sale, the chief financial officer now directly owns 101,263 shares in the company, valued at approximately $17,298,758.29. The trade was a 2.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.88% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. 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. Robert W. Baird set a $212.00 price target on shares of Manhattan Associates and gave the company an "outperform" rating in a report on Wednesday, May 21st. 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 report on Friday, March 14th. Raymond James reduced their price objective on Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating for the company in a research report on Wednesday, January 29th. Finally, 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 report on Thursday, April 10th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Manhattan Associates currently has an average rating of "Moderate Buy" and an average target price of $210.14.

Manhattan Associates Profile

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.