Massachusetts Financial Services Co. MA Cuts Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Massachusetts Financial Services Co. MA lowered its position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 78.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 356,208 shares of the software maker's stock after selling 1,317,568 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.59% of Manhattan Associates worth $61,638,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of MANH. Twin Tree Management LP purchased a new position in shares of Manhattan Associates in the 4th quarter worth approximately $25,000. Central Pacific Bank Trust Division grew its position in shares of Manhattan Associates by 107.3% in the 1st quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock worth $34,000 after buying an additional 103 shares during the last quarter. Park Square Financial Group LLC purchased a new position in shares of Manhattan Associates in the 4th quarter worth approximately $38,000. Transce3nd LLC purchased a new position in shares of Manhattan Associates in the 4th quarter worth approximately $41,000. Finally, Reyes Financial Architecture Inc. grew its position in shares of Manhattan Associates by 42.5% in the 1st quarter. Reyes Financial Architecture Inc. now owns 476 shares of the software maker's stock worth $82,000 after buying an additional 142 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Manhattan Associates Trading Down 0.9%

NASDAQ MANH traded down $1.85 on Friday, hitting $202.05. 337,736 shares of the company's stock traded hands, compared to its average volume of 636,287. Manhattan Associates, Inc. has a 1-year low of $140.81 and a 1-year high of $312.60. The firm's 50-day moving average price is $193.57 and its two-hundred day moving average price is $195.88. The firm has a market capitalization of $12.27 billion, a PE ratio of 57.73 and a beta of 1.08.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MANH. Loop Capital reaffirmed a "hold" rating and issued a $170.00 price objective (down previously from $275.00) on shares of Manhattan Associates in a research report on Thursday, April 10th. DA Davidson lifted their target price on shares of Manhattan Associates from $200.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Morgan Stanley started coverage on shares of Manhattan Associates in a research note on Monday. They issued an "underweight" rating and a $190.00 target price for the company. Citigroup reiterated a "neutral" rating and issued a $200.00 target price (up from $177.00) on shares of Manhattan Associates in a research note on Wednesday. Finally, 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, Manhattan Associates presently has an average rating of "Hold" and an average price target of $210.56.

Manhattan Associates Company 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.