Principal Financial Group Inc. Cuts Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Principal Financial Group Inc. lessened its stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 5.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 239,181 shares of the software maker's stock after selling 13,969 shares during the quarter. Principal Financial Group Inc. owned 0.39% of Manhattan Associates worth $41,388,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. DAVENPORT & Co LLC purchased a new position in Manhattan Associates during the 1st quarter valued at about $214,000. Vontobel Holding Ltd. grew its holdings in shares of Manhattan Associates by 27.4% during the first quarter. Vontobel Holding Ltd. now owns 6,423 shares of the software maker's stock worth $1,111,000 after buying an additional 1,382 shares in the last quarter. Rovin Capital UT ADV purchased a new stake in shares of Manhattan Associates during the first quarter worth about $233,000. Hixon Zuercher LLC grew its holdings in shares of Manhattan Associates by 24.9% during the first quarter. Hixon Zuercher LLC now owns 8,347 shares of the software maker's stock worth $1,444,000 after buying an additional 1,665 shares in the last quarter. Finally, Hills Bank & Trust Co grew its holdings in shares of Manhattan Associates by 34.9% during the first quarter. Hills Bank & Trust Co now owns 2,194 shares of the software maker's stock worth $380,000 after buying an additional 568 shares in the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on MANH shares. Piper Sandler lowered their price target on shares of Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, March 14th. DA Davidson lifted their price target on shares of Manhattan Associates from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. Redburn Atlantic downgraded shares of Manhattan Associates from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $270.00 to $200.00 in a report on Tuesday, June 10th. Truist Financial lifted their price target on shares of Manhattan Associates from $190.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Finally, Loop Capital reiterated a "hold" rating and set a $170.00 price target (down from $275.00) on shares of Manhattan Associates in a report on Thursday, April 10th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $208.88.

Manhattan Associates Stock Performance

MANH opened at $199.88 on Monday. The company's 50 day simple moving average is $189.77 and its 200 day simple moving average is $200.14. Manhattan Associates, Inc. has a 1 year low of $140.81 and a 1 year high of $312.60. The stock has a market capitalization of $12.14 billion, a PE ratio of 57.11 and a beta of 1.08.

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.

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