Millennium Management LLC Reduces Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Millennium Management LLC decreased its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 39.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 106,827 shares of the software maker's stock after selling 69,837 shares during the period. Millennium Management LLC owned 0.17% of Manhattan Associates worth $28,869,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Manhattan Associates by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 6,702,557 shares of the software maker's stock valued at $1,811,299,000 after acquiring an additional 50,538 shares during the period. FMR LLC grew its stake 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 purchasing an additional 310,257 shares during the last quarter. Franklin Resources Inc. increased its holdings 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 valued at $517,917,000 after purchasing an additional 578,295 shares during the period. Invesco Ltd. raised its stake in shares of Manhattan Associates by 3.1% during the fourth quarter. Invesco Ltd. now owns 1,861,160 shares of the software maker's stock worth $502,960,000 after purchasing an additional 55,334 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of 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 worth $452,321,000 after purchasing an additional 841,276 shares during the period. Institutional investors and hedge funds own 98.45% of the company's stock.

Analysts Set New Price Targets

MANH has been the topic of several recent research reports. Truist Financial boosted their price objective on shares of Manhattan Associates from $190.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday. Raymond James lowered their target price on shares of Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating on the stock in a report on Wednesday, January 29th. Citigroup cut 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. 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 report on Thursday, April 10th. Finally, DA Davidson increased their target price on Manhattan Associates from $200.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Manhattan Associates currently has a consensus rating of "Moderate Buy" and a consensus target price of $210.14.

Insider Buying and Selling at Manhattan Associates

In other 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 transaction of $476,274.04. Following the sale, the chief financial officer now owns 101,263 shares of the company's stock, valued at $17,298,758.29. The trade was a 2.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.88% of the stock is currently owned by corporate insiders.

Manhattan Associates Stock Performance

MANH stock traded down $0.48 during trading on Thursday, reaching $187.49. 556,655 shares of the company were exchanged, compared to its average volume of 586,326. The company has a market cap of $11.38 billion, a P/E ratio of 53.42 and a beta of 1.13. Manhattan Associates, Inc. has a 52-week low of $140.81 and a 52-week high of $312.60. The stock's 50 day moving average price is $173.77 and its 200 day moving average price is $222.37.

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.