Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. lowered its holdings in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 6.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 23,000 shares of the software maker's stock after selling 1,700 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Manhattan Associates were worth $3,980,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MANH. Massachusetts Financial Services Co. MA boosted its holdings in Manhattan Associates by 101.1% in 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 purchasing an additional 841,276 shares in the last quarter. Norges Bank acquired a new position in shares of Manhattan Associates in the 4th quarter valued at $201,377,000. Franklin Resources Inc. grew its position in shares of Manhattan Associates by 43.2% in the 4th quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker's stock valued at $517,917,000 after buying an additional 578,295 shares during the last quarter. Lazard Asset Management LLC raised its stake in Manhattan Associates by 2,075.5% during the 4th quarter. Lazard Asset Management LLC now owns 399,066 shares of the software maker's stock worth $107,842,000 after acquiring an additional 380,722 shares in the last quarter. Finally, FMR LLC lifted its position in Manhattan Associates by 16.2% in the fourth quarter. FMR LLC now owns 2,227,669 shares of the software maker's stock valued at $602,005,000 after acquiring an additional 310,257 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MANH. Loop Capital reaffirmed a "hold" rating and set a $170.00 price objective (down previously from $275.00) on shares of Manhattan Associates in a report on Thursday, April 10th. Piper Sandler decreased 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. Truist Financial raised their target price on shares of Manhattan Associates from $190.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Redburn Atlantic cut shares of Manhattan Associates from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $270.00 to $200.00 in a research note on Tuesday, June 10th. Finally, Citigroup lowered their price objective on shares of Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating on the stock in a research report on Friday, March 14th. Four 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 presently has a consensus rating of "Moderate Buy" and an average price target of $208.88.

Manhattan Associates Stock Performance

MANH traded down $3.02 during trading on Wednesday, hitting $188.50. The stock had a trading volume of 709,659 shares, compared to its average volume of 632,192. The firm has a market capitalization of $11.45 billion, a P/E ratio of 53.86 and a beta of 1.08. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month high of $312.60. The company's 50-day moving average price is $182.04 and its 200 day moving average price is $210.07.

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.